563 Results from /crime
Alex Robinson Fraud Analytics at TSB
In the UK, fraud accounts for more than 50% of reported crime; yet less than 1% of police time is spent investigating it. Several weeks ago, I wrote an article about the UK fraud epidemic, based on a BBC article and think tank report. The overall conclusion was that fraud was not being taken seriously by UK government and law enforcement, and tha...
15 April 2021 /payments /crime Financial Risk Management
Scott Cutler Director, at Fortinet
Remote working saw a spike like never before during the first half of 2020, with workers across the globe forced out of the office and into lockdown to curb the spread of Covid-19. There wasn’t a single industry that went unaffected by the pandemic, but financial services in particular witnessed a huge change in the way it functions. Thanks to har...
14 April 2021 /security /crime Information Security
Jane Jee
The number of women working in RegTech account for up to 35% of the industry’s workforce, which compares favourably to the FinTech industry, where 29% of roles are held by women. However, more can and should be done - as mentioned by Lucy Heavens, Co-founder of RegTech Women – from encouraging more young women into the RegTech industry, through ...
13 April 2021 /regulation /crime RegTech
John Bertrand MD at Tec 8 Limited
A consultation by the PSR (Payment Systems Regulator) to PSP(Payment System Provides)/Banks to prevent Authorised Push Payment Scams (APP) at source and to provide better support to the victims is underway. APP scammers use Faster Payments as their payment channel of choice, 80% of APP fraud. To do so scammers need a bank account. Contingent Reimbu...
08 April 2021 /retail /crime The Payments Business
Cyril Lalo CEO at ellipse Inc.
Although 2021 is just over three months old, we are getting data about payment card fraud in 2020 and it suggests some interesting trends. For example, the number of credit cards for sale on the dark web increased to 45 million in the second half of last year. Given the increase in eCommerce during the pandemic, one would intuitively expect gre
06 April 2021 /payments /crime Dynamic Card Security Code, CNP & eCommerce Forum
Retired Member
It’s a common observation that change is constant and accelerating, and this is certainly true in the regulatory space, and amplified by the disruptions of Covid and Brexit. Significant new regulations (e.g. MiFIR, FinIA, FinSA, AIFMD, and MiFID to name just a few) flow alongside ongoing adjustments, clarifications, and enforcements and add up to ...
05 April 2021 /regulation /crime
Two companies, a similar crime and significantly different penalties. Here’s what lessons we can learn from the G4S and Serco cases. Head of the Serious Fraud Office Lisa Osofsky has used a speech at a Society of Corporate Compliance & Ethics conference to show why the SFO will go easier on those firms which have made efforts to cooperate and...
31 March 2021 /regulation /crime
There is a dual movement spurring on the adoption of identity security in the financial services sector. Organisations are being ‘pushed’ by the growing threat of cyber-attacks to rethink and reinforce their security approach. At the same time, they are also being ‘pulled’ by the potential benefits of greater operational efficiency and improved co...
26 March 2021 /identity /crime Banking Strategy, Digital and Transformation
Alistair Catto Managing Director at Beyond
I recently co-hosted an industry workshop with Arachnys, a KYC and AML data specialist, exploring the potential benefits and challenges associated with adopting Perpetual KYC. Limited to just 20 participants, we were joined by representatives from several leading banks and asset managers including, Goldman Sachs, Investec, HSBC, Morgan Stanley and...
23 March 2021 /regulation /crime Financial Risk Management
As a quick recap, in my last article I talked about the brilliance of using software to turn mobile devices like smartphones and tablets into payment terminals. There’s a myriad of benefits that positively impact everyone in the payments ecosystem, from card schemes to banks, PSPs, merchants and the consumer. One of the most critical benefits of...
18 March 2021 /payments /crime Fintech
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