131 Results from 2024, /crime
Barley Laing UK Managing Director at Melissa
As migration increases and globalisation continues at pace, financial institutions around the world are having to review and verify a greater range of identification (ID) documents when onboarding customers than they traditionally would. This is backed up by research from the United Nations (UN) highlighting that nearly four per cent of the world’...
02 February 2024 /identity /crime Digital Identity Management
Traci Krepper Head of Propositions, Identity and Fraud at Experian UK&I
The evolving landscape of fraud in the financial sector demands a proactive approach to security. As criminals constantly refine their tactics to exploit vulnerabilities, the importance of predicting the trajectory of fraud and understanding the dynamics of KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations becomes critical for b...
01 February 2024 /security /crime Trends in Financial Services
Luigi Wewege President at Caye International Bank
The surge in cybersecurity breaches and financial scams presents a significant challenge and it is an ever-present danger in a sector that is increasingly digitalized. The core issue lies in the anonymity that the digital platforms afford bad actors, creating a complex environment for businesses and individuals alike. This article delves into the ...
30 January 2024 /security /crime Artificial Intelligence and Financial Services
Hugo Chamberlain Chief Commercial Officer at smartKYC
In the realm of financial services and beyond, ‘Know Your Customer’ (KYC) has long been a foundational principle. Initially implemented as a means of combating money laundering, terrorist financing, and fraud, KYC procedures have traditionally centred around verifying the identity of individual customers. But, as the business landscape has grown ...
24 January 2024 /regulation /crime RegTech
Nick Green Director at Purple Patch Broking Ltd
Data contract flexibility makes a significant difference in how financial institutions respond to market shifts and manage spend. Why? Because with the right flexibility, institutions can align their contractual commitments with their actual needs and market conditions, leading to improved efficiency, cost savings, and a stronger competitive edge....
18 January 2024 /retail /crime Banking
An emerging pain point many financial institutions grapple with is ‘bureau lock-in’ – over-reliance on a single credit reporting agency (CRA). This data dependency narrows perspectives to one view, restricting the firms to the costs and data quality of that one provider. Of course, this greatly impacts the comprehensiveness of credit risk assessme...
17 January 2024 /retail /crime Banking
Ken Wan Senior Solutions Architect at SAS
Thank you to technological advances, it is becoming increasingly convenient for consumers to carry out online transactions, such as online purchases and money transfers by clicking on a link or using a mobile phone number (authorised push payments). On the other hand, the increasing acceptance of online transactions makes it easier for fraudsters ...
11 January 2024 /regulation /crime Banking
Steve Marshall Director of Advisory Services, at FinScan
Increasing geopolitical instability, regulatory developments, and technological advances are set to contribute to a rapidly changing anti-money laundering (AML) landscape in 2024. Here, we look at each of these key themes in more detail. Geopolitical instability Geopolitical instability, particularly the Israel-Gaza war, will have huge ramification...
10 January 2024 /regulation /crime RegTech
Aviel Erdis CEO at CheckMate
A thought on the PSR’s recent statement on APP reimbursement policy: Under the Consumer Standard of Caution, “consumers should have regard to interventions made by their sending PSP […] those interventions must clearly communicate the PSP’s […] assessment of the probability that an intended payment is an APP scam”. Should the consumer not meet th...
09 January 2024 /regulation /crime Banking Strategy, Digital and Transformation
Iain Swaine Director EMEA, Global Advisory at BioCatch
Fraudsters are fickle. What’s new is old in the world of cybercrime, with fraudsters often just repackaging up an old attack with a new bow. But it is for this very reason that it is so difficult to predict the next move they’ll make. Recently, we reached out to a team of industry experts and practitioners to get their perspective on one question...
08 January 2024 /payments /crime Banking
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