464 Results from /crime
Martin Wilson Chief Executive Officer at OneID
Authorised push payment (APP) fraud is currently rampant in the UK. In the first half of 2021, cases rose by a shocking 71% and for the first time overtook card fraud in terms of the amount of money stolen. These scams involve consumers and businesses being tricked into sending money to criminals using either stolen or invented identities. They ta...
30 March 2022 /identity /crime Banking Strategy, Digital and Transformation
Andrew Stevens Global banking and financial services specialist at Quadient
This week, we heard the news that HMRC is warning Self Assessment customers to be on their guard after more than 570,000 scams were reported to HMRC last year. The news comes as a wake-up call for those who use the Self Assessment service, but it’s also a grisly sign that the true scale of email, text and call scams is likely much larger than any ...
18 March 2022 /crime Exposing Financial Crime
Retired Member
Following the start of the Ukrainian crisis, the FCA sent letters to all UK financial institutions, warning them the new Economic Bill will be fast-tracked. This bill includes a new register meaning foreign owners of UK property must declare and verify their identities with Companies House. The aim is to stop overseas criminals and oligarchs from ...
17 March 2022 /regulation /crime Banking Regulations
Greg Woolf CEO at Fiverity
While the massive financial cost of digital fraud is broadly understood – AFCE estimates that 5% of revenue across industries is lost to fraud – there’s less awareness regarding how this theft funds criminal activity worldwide. The Digital Fraud and Organized Crime Connection The fact that only 5-15% of synthetic loan applications are caught by leg...
09 March 2022 /security /crime Fintech
Barley Laing UK Managing Director at Melissa
Biometric technology has only been taken seriously by many in financial services since the start of the pandemic, which made the remote onboarding of customers a necessity. Biometrics is already proving itself to be an important identity verification option for financial institutions, particularly as technology continues to evolve in this area. In...
22 February 2022 /identity /crime Biometrics
Geopolitical tensions such as at the Russian-Ukrainian border have thrown sanctions risk management challenges into the spotlight in recent months. Foreign policy responses to crises of this kind usually involve a fresh package of sanctions requirements. Sanctions risk management is going to become ever more complicated, as the world takes a step ...
21 February 2022 /regulation /crime Exposing Financial Crime
Lynton Buxton Group Marketing Manager at TALL Group
When compact discs were first released in the 1980’s, people were amazed at the thought of digital music and it took some years for music listeners to think about replacing their vinyl records with CD’s. However, with the vinyl record consigned to history, step forward to today and over a fifth of all albums purchased in the UK is now vinyl. Resea...
21 February 2022 /payments /crime The Payments Business
Bhavesh Vaghela SVP B2B Product and Innovation at Collinson
It’s February, and a year and a month has passed since my last predictions blog, and what a year we have had. Like with everything in life, things have taken longer than expected to finish. This is very true with the pandemic and the aftermath it is leaving behind. I concluded my last predictions with a quote from my hero David Attenborough “Our...
16 February 2022 /identity /crime Financial Transformation
Unlike last year, Valentine’s Day this year is likely to be one free from a lockdown. People across the UK are set to spend big on their partners, pets, and themselves with gifts, dinner dates and trips away. This means a whopping £1.37 billion could be spent by the UK for Valentine’s Day in 2022. But where there is money, there are fraudsters wait...
14 February 2022 /identity /crime
In January this year, TheCityUK, an advocacy group promoting financial and professional services, warned that cyber attacks were “the single biggest risk” businesses face, while research from the British Chambers of Commerce (BCC) found that one in ten companies had been the victim of a cyber-attack in the last year. Nowhere is this threat more ke...
11 February 2022 /payments /crime Banking Strategy, Digital and Transformation
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