Greg Woolf CEO at Fiverity
Technology has a vital role to play as financial institutions fight back against fraudulent activity, which continues to grow—Alloy's Annual State of Fraud Benchmark Report, 91% of respondents said that fraud rates have increased at their organization year-over-year. While solutions are available that help identify fraud, many lack visibility in...
13 September 2023 /regulation /crime Exposing Financial Crime
Clare Rowley Head of Business Operations at Global Legal Entity Identifier Foundation (GLEIF)
Money laundering and terrorist financing create significant systemic risks in the global financial system. The intricate webs spun by fraudsters and criminals to evade detection crisscross national borders and legal jurisdictions, commonly exploiting multiple financial institutions and legal entities. In today's instant digital economy, this is ex...
08 September 2023 /identity /crime Digital Identity Management
Sophie Condie Chief Operating Officer at Shieldpay
Every year, law firms reclaim billions of dollars in class action payouts for their clients– securing justice for those who have been subject to corporate wrongdoing. Beyond empowering individuals to hold businesses to account and securing appropriate compensation, law firms also play a critical role in the distribution of these funds. Data from T...
07 September 2023 /payments /crime Law and Finance
Retired Member
It’s hard to believe that it was only in November 2022 that ChatGPT was unleashed as one of the first mass-market AI applications. With its first birthday approaching, the speed with which ChatGPT is influencing our interactions with financial brands is moving faster than regulators can keep up with. AI is embedding itself into the global financia...
24 August 2023 /regulation /crime Artificial Intelligence and Financial Services
Eli Talmor CEO at ID-Bound
Let me start with an innocent question: Is it expected that someone buys Airline Ticket for somebody else? Yes, it is standard practice for someone to buy an airline ticket for somebody else. People often purchase airline tickets as gifts for family members, friends, or colleagues traveling for various reasons, such as vacations, business trips, fa...
18 August 2023 /payments /crime Alternative Investments
Oliver Tearle Head of Technology Innovation at The ai Corporation
Generative AI (such as OpenAI's ChatGPT) has generated an explosion of interest as numerous sectors have started understanding its unique capabilities for generating content based on simple prompts. There is much discussion about whether this new generation of AI will replace many skilled jobs, and at a basic level, it seems capable of doing so - ...
10 August 2023 /crime /predictions Artificial Intelligence and Financial Services
The emergence of artificial intelligence (AI) has given rise to a troubling new type of fraud that is extending digital impersonation beyond just dating platforms and reality TV and into the financial realm. Right now, fraudsters are increasingly using tools such as ChatGPT and Generative AI to create deep-fake personas, which they use to deceive ...
07 August 2023 /security /crime Transaction Fraud Systems and Analysis
Simon Luke UK Country Manager at First AML
Unusual wealth types provide criminals with an avenue for money laundering. Cryptocurrencies, artwork and luxury goods all have properties which make them the perfect vehicle for hiding the true origins of criminal profits. With these assets hard to value, trace and verify, how can compliance officers spot illegal activity? And what should they ...
07 August 2023 /regulation /crime
Naomi Grossman Learning and Content Manager at VinciWorks
‘Rough Diamonds’, the recent television series that delves into the world of money laundering across Europe, depicts a world where criminals try to hide the illicit origins of their funds through different financial transactions. It involves the diamond industry in Antwerp, Albanian mobsters, London drug dealers, dirty money, and star-crossed love...
04 August 2023 /regulation /crime Exposing Financial Crime
Cheryl Chiodi Industry Strategist, Financial Services at Akamai
No matter how much emphasis is placed on creating safe passwords, avoiding phishing attempts, and safeguarding sensitive personal data, the risk of account takeover (ATO) fraud remains ever-present. This type of fraud, where criminals brazenly steal account credentials and personal identifiable information, including social security numbers, addre...
02 August 2023 /security /crime Information Security
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.