Retired Member
2021 has been a year of two halves – the first we were all dealing with life under lockdown. And the second half, supercharged with the vaccine programme, has seen life trying to get back to normal. But whatever the conditions, financial criminals have carried on regardless, capitalising on pandemic conditions and our increasing reliance on techno...
06 January 2022 /regulation /crime Financial Transformation
Nickii Mallia Business Development Manager at Aqubix Ltd - KYC Portal
In today’s world it is vital to adopt a continuous KYC (cKYC) approach rather than the inefficient costly periodic client reviews and remediation projects, to understand your customers' risk profile throughout their relationship or lifecycle. From the point a prospect approaches an organisation to be on-boarded as a customer and during the customer...
05 January 2022 /regulation /crime Operational Risk Management
Increased internal fraud. The effects of COVID-19 on the world of business are still being felt across many companies. The change to work from home has been a difficult and contentious decision for many CEOs across the world, couple with the “great resignation” where workers are moving to either seek more freedoms or change their job type post-pan...
04 January 2022 /crime /predictions Payments strategies 2015-2020-2030
Dexter Penn CEO at Kalgera
As Christmas Day fast approaches, many of us will be frantically last-minute shopping to ensure a Christmas to remember, not least after last year’s lockdown Christmas. Typically, UK households spend around £740 more than normal during the month of December, according to the Bank of England. While this is good news for the economy, it’s not so goo...
22 December 2021 /regulation /crime Financial Inclusion
Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions
In What Is Subscription Trap? (Part 1), we saw several Dark Patterns used by brands and service providers ("Merchants") to make it difficult for us to cancel subscriptions like Social network e.g. LinkedIn Premium Digital media e.g. Wall Street Journal Streaming video service / OTT e.g. Netflix Hosting service e.g. Hostgator SAAS softwa...
20 December 2021 /payments /crime
Amita Choudhary Marketing Manager at Princeton Growth Accelerator
In the modern world, we are all so used to our data being for sale that many of us do not even really evaluate the issue. However, while we might not mind our email address or name being on a marketing database, your financial data is far more important to keep private. That is why you should ignore the importance of financial privacy. Want to sto...
20 December 2021 /crime Financial Inclusion
Jackie Barwell Director at ACI Worldwide
Against the backdrop of continuing economic uncertainty, financial fraud will continue to thrive in 2022, with fraudsters expected to exploit consumers across all digital channels. Sadly, the industry has not yet solved the age-old question: “Who are you?”. And as it stands, fraudsters, in many cases, are winning the war when it comes to financial...
16 December 2021 /crime /predictions Transaction Fraud Systems and Analysis
Gabriel Hopkins Chief Product Officer at Ripjar
With the constant barrage of news related to Covid-19, it is sometimes easy to forget about the complex geo-political world we live in and the difficult and seemingly intractable problems that fill it. One reminder of those complex problems came in late November with the inclusion of Turkey on the Financial Action Task Force (FATF) greylist along...
15 December 2021 /regulation /crime RegTech
Mark McCluskie Head of Investigations EMEA at Nuix
Fraudulent activity surging The Office of National Statistics (ONS) has reported that 5 million fraud offences were committed in the year ending June 2021: A 32% increase compared to 2019. Despite the prevalence of fraud across the country, some corporates including financial institutions believe that criminal behaviour isn’t something that they ...
15 December 2021 /security /crime Information Security
The Christmas season is here, and many retailers are feeling positive about performance this year, given that non-essential shops are open and things are heading back to normal. Sales, especially online, are already brisk and widely expected to become yet more robust in December. A good Christmas season on average accounts for 20% of annual revenu...
03 December 2021 /crime Business
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