John Cant Managing Director at MPI Europe Ltd
I have nothing against Harrogate, well not consciously at least. However, over recent months there has been much discussion about unconscious bias in many walks of life - including mention in this article about data used for algorithms. So let's consider the role that preparation of data for regulatory uses might have, and where issues exist, what...
24 July 2020 /regulation /crime Data Management and Governance
Micah Willbrand Product Director ID&F at Experian UK&I
Covid-19 has caused upheaval to all our lives. With the economic impact still uncertain but likely very significant, it’s clear we’ll be living with the consequences of the outbreak for a substantial period of time. But even during these unprecedented times, criminals and fraudsters remain active. Banks and other financial providers’ fraud teams – ...
25 June 2020 /crime /covid-19 Analytics in Banking
Adam Krug CLM Ambassador at Pegasystems
30 years ago, financial services built everything in-house. Nowadays, with so many off the shelf software products for trading and transaction systems – accounting, HR, CRM to name a few – the challenge now is which vendor to select. In the words of Tony Soprano, “Believe none of what you hear and half of what you see.” When it comes to investing...
24 June 2020 /regulation /crime Financial Services Regulation
René Hendrikse Vice President & Managing Director, EMEA & LATAM at Mitek
From social media scams to fake government texts, phishing links in business emails and false phone calls, fraud has risen sharply since the start of the COVID-19 pandemic. More than 2,500 scams had been reported to investigators in the UK by the start of April alone. The threat doesn’t show signs of slowing down either. By early May, more than 16...
23 June 2020 /identity /crime Digital Identity Management
Jay Floyd Principal Fraud Consultant at ACI Worldwide
The current COVID-19 pandemic is unprecedented in its global reach and implications for consumers and businesses worldwide. Across the globe, millions of people have been locked down in their homes, with online banking and shopping consequently seeing a significant rise. However, this situation has also created a fertile ground for fraudsters, wit...
19 June 2020 /crime /covid-19 Banking Strategy, Digital and Transformation
2019 saw the FCA dishing out the highest level of fines ever, totalling nearly £400m in a twelve-month period. This included hefty penalties relating to anti-money laundering failings. However, in the FCA’s 2019 thematic review the organisation did provide its recommendations for how banks can better their AML processes, stating, “For an effectiv
09 June 2020 /regulation /crime Financial Services Regulation
Retired Member
Over the last few months, we have been presented with more e-commerce and online offerings than ever before. From online shopping to virtual gym classes, the pandemic has accelerated the move towards a fully digital world. Unfortunately, this growing digital presence leads to a rise in cyber-attacks, too, and more specifically, fraud. Even before ...
08 June 2020 /identity /crime Digital Identity Management
Shirish Netke President at Amberoon
During the post-prohibition era in the 1930s, bars offered free lunches to their patrons to get them to buy drinks. 40 years later, Milton Freidman famously summed up the study of economics with the quip – “There is no such thing as a free lunch” or TINSTAFL for short. Now, 50 years later bankers and borrowers alike are recalling TINSTAFL in looki...
04 June 2020 /crime /covid-19 Artificial Intelligence and Financial Services
Covid 19 has highlighted a need for firms in the business world to be adaptable to rapidly changing conditions. In Financial Services, changing regulations and requirements from regulators mean that day to day users need to have solid processes and case management tools which allow them to maintain a strong structure of checks and balances. At th...
15 May 2020 /wholesale /crime Financial Services Regulation
Jim Steven Head of Crisis & Breach Response at Experian Consumer Services
Covid-19 is at the forefront of business minds right now, with many tasking themselves with understanding, reacting to and learning lessons from this ever-changing situation. However, although business survival will be the top priority throughout this pandemic, it’s also essential to have the correct processes in place to effectively respond to a ...
07 May 2020 /crime /covid-19 Information Security
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