582 Results from /crime
Retired Member
MSB services have come to the rescue of many, who can’t access banks immediately and want to transfer money or carry out trade exchanges. So, it surely provides time and place convenience. We all know MSB services include cash acceptance for a transaction or currency exchange, global remittance services, check cashing outlets, and facilitating paym...
30 November 2022 /security /crime Online Banking
Stan Cowan
Changes in the financial regulatory environment always bring upheaval, but recent initiatives by United States Senators to reduce P2P transaction fraud could add significant challenges for smaller banks, credit unions, and other financial institutions (FI). A proposed amendment to the Electronic Fund Transfer Act (EFTA) to cover authorized payments...
27 November 2022 /payments /crime Peer-To-Peer
Sara Costantini Regional Director for the UK and Ireland at CRIF
At this time of year, many of us will be out getting gifts for loved ones and buying in food to host families and friends for the Christmas period Spending always spikes in the holiday time and in the digital age it’s never been easier to part with your money, with the tap of a card or speedily entering your bank details online. But it’s also ea...
24 November 2022 /inclusion /crime Open Banking
Simon Luke UK Country Manager at First AML
Many of us have seen Ozark - where dirty money is directly cleaned through a casino - but just how much of this is based on truth? Historically casinos have been a target for money launderers. They are exposed to significant money laundering risks, including quick or high turnover of cash with minimal betting. Gaming accounts can also be used to s...
24 November 2022 /crime Business
Jonathan Hancock Head of Product & Innovation at The ai Corporation
A review of The House of Lords Fraud Act 2006 and Digital Fraud Committee’s new report, ‘Fighting Fraud: Breaking the Chain’ “Fraud is the most commonly experienced crime in England and Wales today and represents a substantial national threat. If this were any other type of crime, this would be a matter of national importance.” Last week, on 12 N...
23 November 2022 /regulation /crime Exposing Financial Crime
Identity fraud is the unauthorised use of a person’s personal information by another person to commit a crime or deceive or defraud that person or a third party in order to take advantage of the pleasures that come with that synthetic identity. The majority of identity fraud is performed for financial gains, such as gaining access to a victim’s cre...
18 November 2022 /identity /crime Biometrics
Pay-by-Bank solutions are suddenly the fashion in the payments world. Solutions are available from HSBC, JP Morgan, Barclays, JP Morgan, Mastercard and World Pay to name a few. How do they work and do they help or hinder fraud? They promise convenience at the point of sale. But, what about fraud? Do they help combat that? Billers whose consumers a...
17 November 2022 /retail /crime Payments strategies 2015-2020-2030
Luke Mathews Fraud Strategy Manager at The ai Corporation
Fuel fraudsters continue to ‘skim a little off the top’. The post pandemic e-commerce boom has fueled a marked increase in demand for logistics services. As a result, global fuel and fleet markets have expanded their business operations to meet this increased demand. For criminals, this has created a unique opportunity to take advantage of the ‘n...
15 November 2022 /payments /crime Financial Risk Management
Fraudsters have become adept at using deepfakes and have the potential to cause significant fraud losses with this terrifying technology. Learn how deepfakes are being used to defraud customers with effective impersonations of real people and what banks can do to keep their customers safe. How Deepfake Tech Enables Fraud Losses Deepfake technology ...
14 November 2022 /security /crime
I never thought I would start a serious blog on cryptocurrencies by mentioning Kim Kardashian. At the beginning of October 2022, the US Securities and Exchange Commission (SEC) announced charges and settlement against Kim Kardashian. The SEC Order found that Ms Kardashian failed to disclose that she was paid USD$250,000 to publish a post promotin...
09 November 2022 /crypto /crime Financial Literacy for Kids
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