586 Results from /crime
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
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
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