558 Results from /crime
Greg Woolf CEO at Fiverity
When harnessed correctly, collaboration is an extremely powerful tool. It drives innovation, increases chances of success, improves communication...the list goes on. But did you know that collaboration is also the financial services industry’s best line of defense when it comes to meeting one of its greatest challenges – detecting digital fraud? ...
20 July 2022 /security /crime Data sharing
Kevin Levitt Global Business Development, Financial Services at NVIDIA
Financial regulators across Europe continue to levy steep enforcement fines against banks for failures to comply with know-your-customer (KYC) and anti-money laundering (AML) regulations. At the end of 2021, the Financial Conduct Authority (FCA) fined two of the UK's largest banks, HSBC and NatWest, a total of £328.95 million ($436.1 million) for ...
19 July 2022 /crime Artificial Intelligence and Financial Services
Frank Cummings CEO at AML Partners LLC
We need to monitor more than just customers. I have in the past discussed what I call Behavioral Analytics. Behavioral Analytics leverage automated comparisons between data-based predicted behaviors and customers’ actual behaviors. When combined with Rule-Based Systems, Behavioral Analytics can prevent criminal schemes even before they begin. S
14 July 2022 /crime RegTech
Retired Member
Chargebacks can be a challenging and potentially harmful process to businesses, as although originally introduced as a consumer protection tool with good intentions, the ease of the chargeback process completion has led to widespread abuse of the mechanism. We explore how chargebacks came about, how the process has evolved and the impact of charge...
06 July 2022 /payments /crime
René Hendrikse Vice President & Managing Director, EMEA & LATAM at Mitek
Are you a good password user? If you have different passwords for every account, each a unique configuration of letters, numbers, capitals, and symbols, perhaps you are. No one can access your accounts. Including you. Today, to access our many online accounts, each of us has an average of a hundred passwords. We need the accounts to access modern l...
06 July 2022 /security /crime Information Security
Caris Jackson Marketing Content Writer at UTP Merchant Services Limited
As a society we cannot seem to catch a break. We have had the relief of coming out of a global pandemic and various lockdowns. But now we have a cost-of-living crisis, a recession looming, and are facing an epidemic of fraud. Times cannot be tougher. Energy bills are on the rise, along with fuel and food prices. Fraudsters are preying on us when s...
06 July 2022 /security /crime
July 4 revelers in Highland Park, IL, experienced another mass-casualty shooting in America. Stunningly, at this point it’s no longer surprising to see these news alerts. Something has to change. I wrote here a couple weeks ago that RegTech behavior-monitoring technologies have the potential to warn of impending violence—like school shootings and ...
05 July 2022 /crime /predictions RegTech
John Bertrand MD at Tec 8 Limited
Scammers are after your money in your bank account and the latest UKFinance Fraud Report 2022* generated newspaper headlines below: “Britain is £3bn fraud capital of the world: Probe reveals 40m Britons have been targeted by scammers this year... but just 2% of our police are investigating the crime plague”** In fairness, bank fraud – Credit Cards,...
05 July 2022 /regulation /crime Innovation in Financial Services
Nish Kotecha Co-Founder & Chairman at Finboot
ABBA, one of the most successful bands in history performed in London recently. Agnetha, Björn, Benny and Anni-Frid looked real, authentic and amazing for their years. The crowds loved it. Regrettably, the singers were holograms created with weeks of performing on a stage in Stockholm, in front of hundreds of cameras collecting their every movemen...
05 July 2022 /regulation /crime Banking Regulations
Ivan Zhiznevskiy Founder & CEO at 3S Money
Up to $2 trillion is laundered every year according to the United Nations. Shockingly, they also estimate that banks help catch less than 1% of this crime. And, sadly, the UK ranks second in the money laundering hall of shame. On occasion, the finger of blame is pointed at Fintechs, with some being branded as an open door for dirty money. But,...
05 July 2022 /crime Exposing Financial Crime
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