582 Results from /crime
Stu Bradley Sr. VP of Risk, Fraud and Compliance Solutions at SAS
‘Twas the night before 2023, when all through the digiverse, Fraudsters were stirring, planning their next curse. Digital programs are launched, we think with great care. Then chaos ensues, and we count our losses in despair. We needn’t look too far into the rearview mirror for examples of how criminals twist chaos and disruption into lucrative opp...
20 December 2022 /crime /predictions Artificial Intelligence and Financial Services
Chiara Gelmini Industry Principal Director - Customer Risk & DD at Pegasystems
As we observe the global financial pressures, rapid changes in geo-political situation, ESG, and the Web 3.0 (with NFTs, DeFi, AI, the Metaverse, crypto and open blockchain) continue to morph and evolve, big shifts and new opportunities are shaping the financial services industry. Here are the 5 tech essentials that leading brands in financial serv...
19 December 2022 /crime Banking Strategy, Digital and Transformation
Stan Cowan
New fraud cases and scams are increasing faster than ever. Over 70% of finance professionals reported that their institution suffered from payment attacks in 2021. Consumers alone lost $5.8 billion to scams. As a result, financial institutions (FIs) have found themselves facing new anti-fraud legislation and imposing stricter controls. The probl...
15 December 2022 /payments /crime Financial Risk Management
Retired Member
We have been applying analytics, artificial intelligence (AI) and machine learning (ML) to fraud prevention solutions for over 20 years. Over this time, the financial services sector has completely transformed, with firms seeking to move away from siloed and disjointed datasets, rapidly digitising and turning to the cloud. But how has this impac...
14 December 2022 /security /crime Artificial Intelligence and Financial Services
Claus Christensen CEO at Know Your Customer
Following a seminal ruling from the EU Court of Justice in November, the journey towards greater corporate transparency recently encountered a stumbling block. As further developments remain uncertain, what options are available to compliance teams and members of the public looking to access official beneficial ownership information across jurisdi...
14 December 2022 /regulation /crime RegTech
Gabriel Hopkins Chief Product Officer at Ripjar
There’s no shortage of articles in the press this week and last about the start of the prosecution of Wirecard executives for fraud, but how is it possible that such a large-scale fraud took so long to emerge? I first came across Wirecard in 2002. As has been detailed in Dan McCrum’s excellent book – they were an intriguing set of individuals. I ...
13 December 2022 /payments /crime Exposing Financial Crime
APIs provide rapid and scalable applications for banking, payments, and other businesses that require identity verification for AML and KYC compliance. In most countries, some firms are obliged by law to comply with AML and KYC. When such firms authenticate their consumers, APIs may provide a faster, simpler, and less expensive way to comply while ...
13 December 2022 /identity /crime Biometrics
Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions
In his ET WEALTH column entitled If it seems too good to be true, it probably is, Dhirendra Kumar describes the following asymmetry between victims and perpetrators of cybercrime: "Individual victims - even when they are well-off and educated - are poorly equipped to detect fraud. The fraudsters are invariably well-experienced at what they're...
01 December 2022 /payments /crime
Risk-based credit pricing can be a great way to expand community-based financial institutions’ loan portfolios while providing the communities they serve with a way to repair credit and obtain needed funding without having to engage with predatory lenders. But it must be done carefully to ensure the financial institution is not unnecessarily expos...
01 December 2022 /identity /crime Financial Risk Management
Liam Chennells CEO & Founder at Detected
It should come as no surprise to anyone that the UK has a fraud problem. Bosses at UK Finance, HSBC and NatWest have recently called out Companies House for, once again, facilitating business fraud. While Companies House has long been an easy target for fraudsters, the main aim of the online register has been to reduce fraud by requiring specific c...
30 November 2022 /regulation /crime
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