Vikas Seth Chief Product Officer at IDnow Gmbh
During last months, I asked many of my friends and family members regarding their experiences while opening an account with one of the thousands of Fintechs or setting up new account with car/scooter sharing company or other similar usercases espeically requiring identity verification. Given my background in identity management and digital ident
26 June 2021 /identity /crime Artificial Intelligence and Financial Services
Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions
All of us are familiar with subscriptions of the following type: 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 software e.g. Salesforce A subscription is for a given plan at a fixed monthly fee. When you sign up for it, you typically submi...
23 June 2021 /payments /crime
Camlo Kalandra Marketing Executive at UTP Merchant Services
A slew of high-profile companies have recently fallen victim to cybercrime including America’s Colonial Pipeline, EA Games, McDonald’s, and the world’s largest meat supplier JBS. The majority of these have involved ransomware attacks, in which hackers steal data or threaten to delete files if a fee is not paid – usually in cryptocurrency. JBS paid...
17 June 2021 /security /crime
John Bertrand MD at Tec 8 Limited
‘To CoP, or not to CoP, that is the question Whether 'tis nobler in the mind to suffer The slings and arrows of outrageous scams, Or to take arms against a sea of fraudsters And by opposing end them delay’ Bank/PSP (Payment Service Provider) not offering Confirmation of Payee (CoP) could be aiding and abetting fraudsters. CoP links the name of the ...
14 June 2021 /payments /crime Banking Regulations
Kevin Eley VP of Sales, UK and Europe at LogRhythm
Businesses in the financial services sector have to manage enormous risk, wealth and personally identifiable information (PII), all while meeting strict regulatory requirements. With pressure mounting on compliance and data protection, financial services organizations are becoming increasingly motivated to improve their cybersecurity preparation, ...
11 June 2021 /security /crime
Shagun Varshney Senior Product Manager at Signifyd
Did you hear the one about how SCA is delayed for six months? Of course you have... Five times now. It would be funny if it weren’t so, well, not funny. UK retailers and their product teams have been whipsawed repeatedly by moving enforcement deadlines for the new payment regulations being ushered in by PSD2, which passed in 2015. “These are compl...
04 June 2021 /payments /crime Frictionless Payments
Pj Rohall Fraud SME at Featurespace
Money mules are a hot topic in fraud prevention circles these days. But wait a minute, isn't that more of an AML issue? I mean the literal definition of money laundering is "concealing the origins of illegally obtained money". That's money muling to a T. However, when you look across the lifecycle of muling activity, it becomes more comp...
24 May 2021 /payments /crime Financial Risk Management
Simon Moss CEO at Symphony AyasdiAI
We’re living in a golden age for financial crimes and it’s a good time to be a bad actor. Among the many potentials for crime is stimulus fraud – such as what occurred last year with the major stimulus packages passed in response to the pandemic. In 2020 alone, fraudsters siphoned off $36 billion meant for unemployed Americans, and Californian aut...
18 May 2021 /retail /crime Exposing Financial Crime
Carl Wegner CEO at Contour
Trade finance is a critical component of global trade, enabling banks to provide risk mitigation and working capital facilitation. Any transaction brings with it a degree of risk, and trade finance is no different – but the $18 trillion market is simply too profitable to abandon. So what are banks looking out for when it comes to trade fraud and, ...
17 May 2021 /security /crime
Alex Robinson Fraud Analytics at TSB
As Open Banking (OB) in the UK prepares to accelerate, have the fears around security and fraud risks gone away? When OB launched to great fanfare in 2017, there were concerns from banks about the security and fraud risks - have these materialised, been mitigated or do they remain, lurking in the shadows? When OB launched in the UK it was meant t...
12 May 2021 /payments /crime Open Banking
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