589 Results from /crime
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
Jonathan Hancock Managing Consultant, Fraud at Accenture
A review of The House of Lords Fraud Act 2006 and Digital Fraud Committee’s new report, ‘Fighting Fraud: Breaking the Chain’ “Fraud is the most commonly experienced crime in England and Wales today and represents a substantial national threat. If this were any other type of crime, this would be a matter of national importance.” Last week, on 12 N...
23 November 2022 /regulation /crime Exposing Financial Crime
Retired Member
Identity fraud is the unauthorised use of a person’s personal information by another person to commit a crime or deceive or defraud that person or a third party in order to take advantage of the pleasures that come with that synthetic identity. The majority of identity fraud is performed for financial gains, such as gaining access to a victim’s cre...
18 November 2022 /identity /crime Biometrics
Pay-by-Bank solutions are suddenly the fashion in the payments world. Solutions are available from HSBC, JP Morgan, Barclays, JP Morgan, Mastercard and World Pay to name a few. How do they work and do they help or hinder fraud? They promise convenience at the point of sale. But, what about fraud? Do they help combat that? Billers whose consumers a...
17 November 2022 /retail /crime Payments strategies 2015-2020-2030
Luke Mathews Fraud Strategy Manager at The ai Corporation
Fuel fraudsters continue to ‘skim a little off the top’. The post pandemic e-commerce boom has fueled a marked increase in demand for logistics services. As a result, global fuel and fleet markets have expanded their business operations to meet this increased demand. For criminals, this has created a unique opportunity to take advantage of the ‘n...
15 November 2022 /payments /crime Financial Risk Management
Fraudsters have become adept at using deepfakes and have the potential to cause significant fraud losses with this terrifying technology. Learn how deepfakes are being used to defraud customers with effective impersonations of real people and what banks can do to keep their customers safe. How Deepfake Tech Enables Fraud Losses Deepfake technology ...
14 November 2022 /security /crime
I never thought I would start a serious blog on cryptocurrencies by mentioning Kim Kardashian. At the beginning of October 2022, the US Securities and Exchange Commission (SEC) announced charges and settlement against Kim Kardashian. The SEC Order found that Ms Kardashian failed to disclose that she was paid USD$250,000 to publish a post promotin...
09 November 2022 /crypto /crime Financial Literacy for Kids
Many are divided over the safety of virtual assistants and lack trust in their use for managing finances With voice-activated services, such as SIRI, Alexa and Google Assistant now a staple in our day-to-day lives, the introduction of this technology to help manage our finances is still subjected to scrutiny. While chatbots and virtual assistants ...
08 November 2022 /payments /crime Artificial Intelligence and Financial Services
This summer, the FCA issued a letter to the Chair of the Treasury Select Committee, answering questions on new sanctions that have been created following the invasion of the Ukraine by Russia. In the letter the FCA said that it will be automating its review process. In the past, it conducted on-site meetings, using face to face interviews and docum...
02 November 2022 /regulation /crime Financial Transformation
Stan Cowan
Customized Machine Learning: The secret sauce of world-class risk stacks In today's world, the most successful companies work data-driven. The data science and machine learning (ML) advancements over the past ten years are truly remarkable. With breakthroughs in complex statistics and deep learning, companies have more tools and data today than ev...
28 October 2022 /identity /crime Artificial Intelligence and Financial Services
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