589 Results from /crime
Retired Member
Emerging threats for accounting firms have steadily risen over the years, with more and more business emails being compromised, leading to an annual loss of around $2.4 billion. Just a few months back, an accounting service based in Maine suffered a huge data breach that compromised personal information of over 1.1 million individuals. Unfortun...
25 November 2024 /security /crime Exposing Financial Crime
Tristan Prince Product Director, Fraud & Financial Crime at Experian
With UK consumers set to spend £28 billion this festive season, the UK faces another significant surge in identity fraud. With online criminals looking out for more ways to exploit people’s information to commit fraud, financial service firms are under immense pressure to ensure their fraud-prevention systems are fit for purpose. Recent legislatio...
25 November 2024 /identity /crime
Mayank Sharma Sr Product Marketing Manager at Innovative Systems
Returning from Money20/20, it’s clear that the future of finance is rapidly evolving, with key trends pointing towards a world of open banking, instant payments, multi-rail ecosystems and the growing prominence of stablecoins. These innovations are shaping how we think about payments, fraud prevention, and compliance. Here’s a breakdown of the bi
19 November 2024 /regulation /crime Embedded Finance
Francesco Fulcoli Chief Compliance and Risk Officer at Flagstone
The United Nations Office on Drugs and Crime (UNODC) recently released a comprehensive issue paper on organised fraud, shedding light on this increasingly sophisticated and pervasive form of criminal activity. The report underscores the urgent need for a coordinated global response to counter the diverse forms of organized fraud, which exploit bo...
18 November 2024 /payments /crime Fintech
Deon Crasto
In the rapidly evolving landscape of B2B payments, companies are constantly seeking innovative ways to expand their market reach and streamline operations. The COVID-19 pandemic accelerated this trend, pushing businesses to explore new models and technologies. As growth rates declined for many companies during this period, there was a shift toward...
16 November 2024 /payments /crime Fintech
Brian Mahlangu Head Digital Commercialization at Absa Bank
One morning, as I was preparing for a meeting with a corporate client, I remembered a recent incident that underscored the importance of reliable security. A close colleague’s company had been the target of a significant cyber attack, with unauthorized users somehow gaining access to their internal systems. Despite two-factor authentication, someo...
11 November 2024 /security /crime Biometrics
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
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
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