542 Results from /crime
John Bertrand MD at Tec 8 Limited
Since the surge in APP fraud reported by UK Finance in the first half of this year forty five million people received either a suspicious text, recorded message or phone call over the last 3 to 4 months.(i) An unknown communication is the start of the fraud cycle and the sheer size of the fraudsters’ activities suggest at least a doubling of UK Fi...
27 October 2021 /payments /crime Banking Strategy, Digital and Transformation
Adam Pogorzelski CEO at Code & Pepper
Artificial intelligence (A.I.) is heavily used in Big Data and when it comes to the analysis of customers’ behaviour. There’s also anti-money laundering (AML) AI; it’s used to fight financial crime and guard the reputation of app providers. FinTech is about trust, after all. How exactly is it done and how can you benefit? Because cybercrime is ser...
25 October 2021 /regulation /crime Artificial Intelligence and Financial Services
Garima Chaudhary Head of Fin. Crime Solution Consulting at Oracle
Introduction The Financial Conduct Authority (FCA), the regulator of financial markets in the U.K., flexed its muscles in March of this year when it launched its first attempted prosecution for anti-money laundering (AML) failings against NatWest. A couple of months later, David Geale, the Director of Retail Banking and Payments Supervision for th...
20 October 2021 /regulation /crime Financial Services Regulation
Debbie Hayes Product Marketing Manager at GMO GlobalSign
Anyone who is paying attention knows the financial industry is going through an unprecedented digital transformation which has been accelerated by the coronavirus pandemic. At the same time, cyberattacks, particularly ransomware attacks, grow in number by the day. The results of a study by the Ponemon Institute and Keeper Security in January sho...
20 October 2021 /regulation /crime Financial Risk Management
Barley Laing UK Managing Director at Melissa
It is convenient and much more efficient for people to conduct financial business on the web. On the flip side, the growth in online transactions has led to a substantial increase in fraudulent activity, which has governments and regulators around the world concerned. Research undertaken by TransUnion recently found that fraud in financial service...
20 October 2021 /identity /crime Banking Regulations
Retired Member
NatWest has recently pleaded guilty to three counts of failing to comply with anti-money laundering (AML) legislation. The bank’s CEO Alison Rose said that the bank “failed to adequately monitor and therefore prevent money laundering by one of our customers between 2012 and 2016.” This news will undoubtedly add to the disappointment expressed by i...
19 October 2021 /regulation /crime Banking Regulations
Jimmy Fong CCO at SEON
2020 may have been the Year of DeFi, but 2021 might go down as the year of Buy Now Pay Later (BNPL). BNPL services are growing at a rate of 39%, with major players like PayPal, Amazon and Square all acquiring existing BNPL companies in multi-billion dollar deals and challenger banks like Revolut and Monzo developing their own offerings. Klarna rem...
18 October 2021 /payments /crime Information Security
Yahya Mohamed Mao Head of Business Development & Marketing at Swiss GRC
Cyber security Awareness Month continues in its 18th year to raise awareness of the importance of cyber security and to ensure that everyone has the resources they need to be safer online. For consumers it is vital that they are aware of the dangers posed by hacker attacks and ransomare on their accounts. Threats to banks, investment firms and in...
18 October 2021 /regulation /crime Data Management and Governance
Fraudsters reported a bonzer financial 1st half of 2021 worthy of any unicorn. UK Finance recorded a 71% increase during the first half of 2021 to £355 million for APP (authorised push payment) fraud1. The first time ever APP exceeded credit card fraud. One scam in particular, fake bills to bereaved families, increased 100% in H1 2021 to £45 mill...
15 October 2021 /payments /crime Banking Strategy, Digital and Transformation
Jackie Barwell Director at ACI Worldwide
Fraud rates in the UK have been climbing to new record heights, so much so that the UK’s industry body UK Finance has been talking for the first time about fraud posing a national security threat. According to latest figures, £754m was stolen from bank customers during the first half of this year - a 30% rise compared to the same period in 2020. S...
14 October 2021 /payments /crime Fintech
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