478 Results from /crime
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
Stan Cowan
As more and more banks implement an omnichannel experience to serve their customers, it’s clear that fraud management needs to follow suit. Consider the limited scope of branches as digital transactions and applications become normalized. Or even digital and embedded lending services or multi-platform customer service options. All of these channel...
20 December 2022 /regulation /crime Transaction Fraud Systems and Analysis
Stu Bradley Sr. VP of Risk, Fraud and Compliance Solutions at SAS
‘Twas the night before 2023, when all through the digiverse, Fraudsters were stirring, planning their next curse. Digital programs are launched, we think with great care. Then chaos ensues, and we count our losses in despair. We needn’t look too far into the rearview mirror for examples of how criminals twist chaos and disruption into lucrative opp...
20 December 2022 /crime /predictions Artificial Intelligence and Financial Services
Chiara Gelmini Industry Principal Director - Customer Risk & DD at Pegasystems
As we observe the global financial pressures, rapid changes in geo-political situation, ESG, and the Web 3.0 (with NFTs, DeFi, AI, the Metaverse, crypto and open blockchain) continue to morph and evolve, big shifts and new opportunities are shaping the financial services industry. Here are the 5 tech essentials that leading brands in financial serv...
19 December 2022 /crime Banking Strategy, Digital and Transformation
New fraud cases and scams are increasing faster than ever. Over 70% of finance professionals reported that their institution suffered from payment attacks in 2021. Consumers alone lost $5.8 billion to scams. As a result, financial institutions (FIs) have found themselves facing new anti-fraud legislation and imposing stricter controls. The probl...
15 December 2022 /payments /crime Financial Risk Management
We have been applying analytics, artificial intelligence (AI) and machine learning (ML) to fraud prevention solutions for over 20 years. Over this time, the financial services sector has completely transformed, with firms seeking to move away from siloed and disjointed datasets, rapidly digitising and turning to the cloud. But how has this impac...
14 December 2022 /security /crime Artificial Intelligence and Financial Services
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