478 Results from /crime
Claus Christensen CEO at Know Your Customer
Following a seminal ruling from the EU Court of Justice in November, the journey towards greater corporate transparency recently encountered a stumbling block. As further developments remain uncertain, what options are available to compliance teams and members of the public looking to access official beneficial ownership information across jurisdi...
14 December 2022 /regulation /crime RegTech
Gabriel Hopkins Chief Product Officer at Ripjar
There’s no shortage of articles in the press this week and last about the start of the prosecution of Wirecard executives for fraud, but how is it possible that such a large-scale fraud took so long to emerge? I first came across Wirecard in 2002. As has been detailed in Dan McCrum’s excellent book – they were an intriguing set of individuals. I ...
13 December 2022 /payments /crime Exposing Financial Crime
Philip Chethalan Marketing Manager at Subex
APIs provide rapid and scalable applications for banking, payments, and other businesses that require identity verification for AML and KYC compliance. In most countries, some firms are obliged by law to comply with AML and KYC. When such firms authenticate their consumers, APIs may provide a faster, simpler, and less expensive way to comply while ...
13 December 2022 /identity /crime Biometrics
Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions
In his ET WEALTH column entitled If it seems too good to be true, it probably is, Dhirendra Kumar describes the following asymmetry between victims and perpetrators of cybercrime: "Individual victims - even when they are well-off and educated - are poorly equipped to detect fraud. The fraudsters are invariably well-experienced at what they're...
01 December 2022 /payments /crime
Stan Cowan
Risk-based credit pricing can be a great way to expand community-based financial institutions’ loan portfolios while providing the communities they serve with a way to repair credit and obtain needed funding without having to engage with predatory lenders. But it must be done carefully to ensure the financial institution is not unnecessarily expos...
01 December 2022 /identity /crime Financial Risk Management
Liam Chennells CEO & Founder at Detected
It should come as no surprise to anyone that the UK has a fraud problem. Bosses at UK Finance, HSBC and NatWest have recently called out Companies House for, once again, facilitating business fraud. While Companies House has long been an easy target for fraudsters, the main aim of the online register has been to reduce fraud by requiring specific c...
30 November 2022 /regulation /crime
MSB services have come to the rescue of many, who can’t access banks immediately and want to transfer money or carry out trade exchanges. So, it surely provides time and place convenience. We all know MSB services include cash acceptance for a transaction or currency exchange, global remittance services, check cashing outlets, and facilitating paym...
30 November 2022 /security /crime Online Banking
Changes in the financial regulatory environment always bring upheaval, but recent initiatives by United States Senators to reduce P2P transaction fraud could add significant challenges for smaller banks, credit unions, and other financial institutions (FI). A proposed amendment to the Electronic Fund Transfer Act (EFTA) to cover authorized payments...
27 November 2022 /payments /crime Peer-To-Peer
Sara Costantini Regional Director for the UK and Ireland at CRIF
At this time of year, many of us will be out getting gifts for loved ones and buying in food to host families and friends for the Christmas period Spending always spikes in the holiday time and in the digital age it’s never been easier to part with your money, with the tap of a card or speedily entering your bank details online. But it’s also ea...
24 November 2022 /inclusion /crime Open Banking
Simon Luke UK Country Manager at First AML
Many of us have seen Ozark - where dirty money is directly cleaned through a casino - but just how much of this is based on truth? Historically casinos have been a target for money launderers. They are exposed to significant money laundering risks, including quick or high turnover of cash with minimal betting. Gaming accounts can also be used to s...
24 November 2022 /crime Business
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