583 Results from /crime
Ben O'Brien Managing Director at Jaywing
Payment Service Providers (PSPs) need fraud detection systems that can anticipate and adapt to emerging types of fraud whilst maintaining the delicate balance between security and customer experience. We've witnessed this first-hand with our clients, where our AI-driven approach strengthens fraud detection capabilities across multiple jurisdictions...
19 December 2024 /ai /crime
Prashant Bhardwaj Innovation Manager at Crif
In our earlier conversations, Amit Gaur, a bank manager in a rural area of Haryana, often lamented the decreasing foot traffic in banks, noting that it was almost a day off after lunch hours as customers increasingly turned to digital transactions. Recently, however, he shared alarming insights about the rising tide of digital fraud affecting his
12 December 2024 /security /crime Transaction Fraud Systems and Analysis
James O'Sullivan CEO at Nuke from Orbit
Mobile phones are integral to modern life. An overwhelming 98% of 16 to 54-year-olds own a smartphone, and 59% of workers favour their phones over laptops or desktops for running their businesses. This reliance is particularly evident in financial services. Research shows that more than three-quarters (78%) of mobile users access banking service...
11 December 2024 /security /crime
Janine Grainger CEO at Easy Crypto
Crypto investors are often seen as tech-savvy trailblazers who are unafraid to dive into complex tech and even more complicated topics like decentralised finance (DeFi) and blockchain. The reality, however, couldn’t be further from the truth. Soaring crypto prices have attracted millions of new participants, but many are still novices. Although f
09 December 2024 /crime
Fraud impacts every sector of society – from major corporations to everyday consumers. Recent trends reveal marked shifts in fraudster behaviour, highlighted by a 31% increase in romance scam payments over the past year and new patterns in investment fraud. These scams continue to grow in sophistication, combining advanced technology with social e...
05 December 2024 /crime
Francesco Fulcoli Chief Compliance and Risk Officer at Flagstone
The 29th of November 2024, the Financial Conduct Authority (FCA) published Policy Statement PS24/17, which introduced significant updates to its Financial Crime Guide (FCG). These revisions followed a consultation period launched in April 2024 (CP24/9) and were driven by the FCA’s ongoing commitment to ensuring that firms possess robust systems...
04 December 2024 /regulation /crime Fintech
Gus Tomlinson Managing Director, Identity Fraud at GBG
As we approach the end of one year and head into the next, we go through a period notoriously rife for scams. Each year, it’s the same cycle: Black Friday, Cyber Monday, Boxing Day sales and January sales. When eCommerce boomed, so did online purchase and payment fraud, both growing hand in hand. But, thanks to the predictability of fraudsters act...
02 December 2024 /crime /predictions Digital Identity Management
Binh Dang Sales and Marketing Executive at smartKYC
The role of Know Your Customer (KYC) analysts has undergone a profound transformation over the past decade, shaped largely by advances in technology, particularly artificial intelligence (AI) and more recently, Generative AI. Historically, the job of a KYC analyst revolved around manually processing large amounts of data, reviewing customer profil...
29 November 2024 /ai /crime RegTech
Zach Meyers Assistant Director at Centre for European Reform
As EU law-makers update Europe’s payments laws, they want to tackle the bloc’s growing number of impersonation, romance and investment scams. Clamping down on these types of scams demands close collaboration between banks, telecoms companies, online platforms and public authorities. However, Members of the European Parliament (MEPs) instead want t...
27 November 2024 /payments /crime
Alexandre Kech CEO at The Global LEI Foundation
The scale, sophistication, and impact of corporate fraud have reached unprecedented levels worldwide. Interpol’s 2024 Global Financial Fraud Assessment reports that “financial fraud has increased and diversified significantly [and] represents a pervasive, global threat.” Even more sobering is the expectation that the “magnitude of financial fraud [...
27 November 2024 /identity /crime Exposing Financial Crime
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