Hrefna Sigfinnsdottir CEO Creditinfo Iceland at Creditinfo Group
KYC – Know Your Customer – is about understanding who your customer is and if they are who they claim to be. However, as simple as this sounds, the process and information required to reach that judgement can be complex. Traditionally, KYC has been an indispensable tool for the credit and lending industry, helping lenders perform risk assessment on...
31 July 2023 /identity /crime Banking and Lending Solutions
Jeremy Chen Senior Director of Product Management at DataVisor
The anticipation surrounding instant and real-time payments in the U.S. has captured the attention of financial experts in more ways than one. With the Federal Reserve's launch of their FedNow Service this month, banks and financial institutions are both excited to reap the benefits and wary of the potential risks. When implemented well, banks and...
27 July 2023 /retail /crime Financial Risk Management
Yaniv Zecharya CTO & CoFounder at FundGuard
Tackling fraud in the modern era takes more than just a secure login process. Accelerated by the global pandemic in 2020, organizations around the globe have shifted their business models to be more digitally oriented. Employees can work remotely from the comfort of their homes, while clients have greater access to a company’s platform, products...
27 July 2023 /regulation /crime Capital Markets Technology
Iain Swaine Director EMEA, Global Advisory at BioCatch
The UK government launched a three-pronged strategy for combating and eliminating financial scams in the UK in May 2023, under the direction of UK Home Secretary. There are three pillars: 1. Pursue fraudsters, 2. Block fraud, 3. Empower people. The lengthy 66-page report outlines the ambitions and goals of the new fraud strategy, broadening the s...
26 July 2023 /regulation /crime
Gemma Staite Threat Analytics Lead (EMEA) at BioCatch
Fighting financial scams has always been a task as chaotic as feeding time at the zoo. But as remote access attacks and money laundering join Phishing as some of EMEA’s most common digital crimes, cybersecurity has become a whole different animal—with fraudsters controlling and ruining the lives of more victims than ever before. Today, scams re...
26 July 2023 /retail /crime Banking
Richard Orange Vice President EMEA at Exabeam
Banks and financial institutions continually face threats from cybercriminals attempting to exploit weaknesses in their digital systems. According to the 2022 Verizon Data Breach Investigations Report, 26% of incidents in the financial sector are caused by malicious insiders, 56% by negligent insiders, and 18% by compromised insiders, emphasising ...
12 July 2023 /security /crime Digital Banking Trends
Roy Prayikulam SVP Risk & Fraud Division at INFORM GmbH
In the fast-paced world we live in today, the desire for instant gratification has created an increasing demand for real-time payments. This need puts a significant amount of pressure on all industries, particularly banking, where both consumers and merchants demand speed and immediacy. A recent report from Juniper Research reveals the sheer scale...
12 July 2023 /payments /crime Banking Strategy, Digital and Transformation
Bob Lyddon Consultant at Lyddon Consulting Services
Whatever one’s opinion of Nigel Farage, the concept that he can be de-banked should be troubling to everyone. It should be even more troubling to those familiar with the financial industry’s measures to counter financial crime, as remedies being applied by banks are more extreme than is required of them, and may not even be available to them in th...
05 July 2023 /payments /crime Banking
Claus Christensen CEO at Know Your Customer
Money moves the economy, and the world. By making it easier to move money, we make it easier to foster entrepreneurship, and we create opportunities for growth. Hence, it’s natural to feel very optimistic about the current boom in digital payments. In 2023 the total transaction value of digital payments is estimated to reach USD 9.46 trillion, up...
04 July 2023 /payments /crime RegTech
Nick Green Director at Purple Patch Broking Ltd
The right data bureau will offer their services in the most transparent and flexible way, as well as be a valuable asset to your credit risk team. But how do you know if your current bureau is the ‘right fit’? If you’ve decided to review existing suppliers, you probably have no idea where to begin your research. On the other hand, you might be war...
04 July 2023 /retail /crime Banking
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