554 Results from /crime
Francesco Fulcoli Chief Compliance and Risk Officer at Flagstone
The UK Government’s introduction of the "Failure to Prevent Fraud" offence under the Economic Crime and Corporate Transparency Act 2023 marks a significant milestone in the fight against corporate fraud. This new offence places a legal obligation on large organizations to actively prevent fraud by their employees, agents, or subsidiarie...
06 November 2024 /regulation /crime Fintech
Ben O'Brien Managing Director at Jaywing
While many financial institutions have implemented robust prevention systems, less obvious vulnerabilities often remain unaddressed. These overlooked weaknesses create prime opportunities for sophisticated criminals, especially as financial crime increasingly shifts to online and social media platforms. The current state of financial fraud Recent ...
01 November 2024 /crime
Prashant Bhardwaj Innovation Manager at Crif
Digital arrest scams have emerged as a significant threat in the digital landscape, impacting consumer confidence and financial stability. These scams not only result in substantial financial losses but also erode trust in digital payment platforms, which is crucial for the growth of e-commerce and online banking. As financial institutions naviga
30 October 2024 /security /crime Banking
Retired Member
The financial sector has always been an area where the reliability of companies and the trust of customers play a crucial role. And what makes financial institutions resistant to crises, guarantees the fulfillment of obligations to clients and creates a reputation as a stable player in the market? The answer lies not only in effective business str...
24 October 2024 /regulation /crime Fintech World
The rise of social media as a powerful platform for influencing financial decisions has brought with it significant risks, especially when it comes to "finfluencers" social media personalities offering financial advice or promoting investment products. While these influencers may have the trust of their audiences, the UK's Financial Cond...
23 October 2024 /inclusion /crime Fintech
Alexander Boehm Chief Executive Officer at PayRate42
Neobanks and fintech companies have revolutionized the financial services industry, offering customers more flexible, user-friendly alternatives to traditional banks. With sleek mobile apps, fast account setup, and innovative financial products, these digital-only platforms have attracted millions of users worldwide. However, this rapid growth h
21 October 2024 /regulation /crime
Nicky Goulimis Co-founder at Tunic Pay
Imagine you are a fraudster swindling unwitting consumers out of their hard-earned savings. You'd have to agree, it's a good time to be in business. Most banks don't spot you before you complete the scam. They are powerless to stop you. And they haven't a hope of tracking you down once the money reaches you. Official statistics tell us that 250,0...
18 October 2024 /payments /crime Fintech
Pankaj Gupta Manager Data Engineering at Independent Researcher
In today's digital landscape, where transactions occur instantaneously, ensuring security has become a top priority for businesses. One innovative method gaining momentum in fraud detection is the use of geolocation data. By employing advanced data engineering techniques, organizations can effectively harness geolocation information to identify an...
17 October 2024 /ai /crime Banking Strategy, Digital and Transformation
Oliver Tearle Head of Technology Innovation at The ai Corporation
Why Leveraging Diverse Data Enhances the Chances of Detecting Fraud Fuel retailers are increasingly grappling with the escalating threat of payment fraud, driven by the proliferation of compromised data on the dark web and the emergence of sophisticated fraudulent tactics. While many fraud detection systems employ advanced technologies and strat...
15 October 2024 /ai /crime Transaction Fraud Systems and Analysis
Nico Barawid Co-founder at Tunic Pay
It’s been a busier year than usual for fraud teams at UK banks as they’ve grappled with significant regulatory change handed down on a tight deadline in an effort to stem the rising tide of payments fraud. Starting 7 October, every UK retail bank is required by the Payment Systems Regulator (PSR) to reimburse customers who lose money in proven inst...
14 October 2024 /identity /crime Fintech
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