463 Results from /crime
Matthew Salisbury CEO at Honey Badger
I know what you’re wondering. Wangiri. What the heck does that mean? It’s a Japanese word meaning ‘one (ring) and cut’. So called because fraudsters make one ring calls to consumers from high-rate overseas numbers. Curious consumers see a missed call from an overseas number and call it back, thus a call is made to the high-rate number and revenue ...
08 February 2023 /security /crime Exposing Financial Crime
Farnoush Mirmoeini Co-founder at KYC Hub
2022 brought renewed attention to the anti-money-laundering (AML) space and the know your customer (KYC) processes underpinning it. High profile cases, such as the criminal trial of Credit Suisse for failing to prevent money-laundering by a Bulgarian drug trafficking ring and the unprecedented sanctions against Russia put the subject front and cen...
25 January 2023 /crime /predictions RegTech
Brad Goodall CEO at BANKED
Back in 2002, the fraud losses related to eCommerce fraud on UK-issued debt and credit cards amounted to 28 million pounds. Decades later, that number continues to skyrocket, with the annual losses hitting 376.5 million pounds as of 2020. During the pandemic, as people spent more time online than ever, there were new waves of online crime. Ove
22 January 2023 /payments /crime Payments strategies 2015-2020-2030
Simon Horswell Fraud Specialist Manager at Onfido
Increased online footfall and transactions mean more opportunities for fraudsters, especially when traffic peaks with holidays, sporting seasons and January sales, for instance. Fraudsters are adept at using peaks as camouflage, hiding in the traffic and using many techniques to perpetrate scams. Here’s a look at the tactics fraudsters are gravita...
18 January 2023 /security /crime
Stan Cowan
It is becoming increasingly harder to delineate between fraud risk and compliance risk. The speed with which identity fraudsters and money launderers move to exploit gaps within financial crime risk management systems has increased due to the race toward greater digitalization and increasing service expectations from consumers. And community bank...
12 January 2023 /regulation /crime Financial Risk Management
Simon Luke UK Country Manager at First AML
In 2015, the European Parliament passed a directive “on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing”. Under this article, member states were obliged to ensure access to beneficial ownership to those with a legitimate interest. In 2018, this was extended to any member of the genera...
11 January 2023 /crime Banking Regulations
Retired Member
While KYC and AML have been front of mind when it comes to compliance and the fight against fraud, anti-bribery and corruption compliance hasn’t been in the spotlight as much lately. However, that doesn’t mean you shouldn’t be paying close attention to it. Why is it important? Preventing bribery and corruption is a high priority for governments acr...
06 January 2023 /regulation /crime Banking Strategy, Digital and Transformation
Despite recent scandals in the broader crypto industry, which have given weight to severe skepticism for further trust in the crypto, the reality is crypto is not going to go away. As more and more merchants consider offering crypto services as a means to accepting payments, it is only natural for questions to arise whether crypto transactions are...
05 January 2023 /crypto /crime
Harriet Christie Chief Operating Officer at Mirrorweb
In September 2022, the Securities Exchange Commission (SEC) and Commodity Futures Trading Commission (CTFC) reached settlements totalling around $1.8 billion with 12 of Wall Street’s leading investment banks. The prominent institutions, which included Morgan Stanley, Citigroup, Goldman Sachs and Bank of America, were penalized for failing to monit...
03 January 2023 /regulation /crime RegTech
Uri Rivner CEO and Co-Founder at Refine Intelligence
It was seven years ago in the weekly update with the Data Science team. As Chief Cyber Officer and co-founder of behavioral biometrics company BioCatch, which specializes in online fraud detection, this was my favorite internal meeting: there were always some new tricks the fraudsters did which the team picked up on, and it was pure fun to learn
29 December 2022 /regulation /crime Digital Banking Trends
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