121 Results from 2022, /crime
Uri Rivner CEO and Co-Founder at Refine Intelligence
It was seven years ago in the weekly update with the Data Science team. As Chief Cyber Officer and co-founder of behavioral biometrics company BioCatch, which specializes in online fraud detection, this was my favorite internal meeting: there were always some new tricks the fraudsters did which the team picked up on, and it was pure fun to learn
29 December 2022 /regulation /crime Digital Banking Trends
Stan Cowan
As more and more banks implement an omnichannel experience to serve their customers, it’s clear that fraud management needs to follow suit. Consider the limited scope of branches as digital transactions and applications become normalized. Or even digital and embedded lending services or multi-platform customer service options. All of these channel...
20 December 2022 /regulation /crime Transaction Fraud Systems and Analysis
Stu Bradley Sr. VP of Risk, Fraud and Compliance Solutions at SAS
‘Twas the night before 2023, when all through the digiverse, Fraudsters were stirring, planning their next curse. Digital programs are launched, we think with great care. Then chaos ensues, and we count our losses in despair. We needn’t look too far into the rearview mirror for examples of how criminals twist chaos and disruption into lucrative opp...
20 December 2022 /crime /predictions Artificial Intelligence and Financial Services
Chiara Gelmini Industry Principal Director - Customer Risk & DD at Pegasystems
As we observe the global financial pressures, rapid changes in geo-political situation, ESG, and the Web 3.0 (with NFTs, DeFi, AI, the Metaverse, crypto and open blockchain) continue to morph and evolve, big shifts and new opportunities are shaping the financial services industry. Here are the 5 tech essentials that leading brands in financial serv...
19 December 2022 /crime Banking Strategy, Digital and Transformation
New fraud cases and scams are increasing faster than ever. Over 70% of finance professionals reported that their institution suffered from payment attacks in 2021. Consumers alone lost $5.8 billion to scams. As a result, financial institutions (FIs) have found themselves facing new anti-fraud legislation and imposing stricter controls. The probl...
15 December 2022 /payments /crime Financial Risk Management
Retired Member
We have been applying analytics, artificial intelligence (AI) and machine learning (ML) to fraud prevention solutions for over 20 years. Over this time, the financial services sector has completely transformed, with firms seeking to move away from siloed and disjointed datasets, rapidly digitising and turning to the cloud. But how has this impac...
14 December 2022 /security /crime Artificial Intelligence and Financial Services
Claus Christensen CEO at Know Your Customer
Following a seminal ruling from the EU Court of Justice in November, the journey towards greater corporate transparency recently encountered a stumbling block. As further developments remain uncertain, what options are available to compliance teams and members of the public looking to access official beneficial ownership information across jurisdi...
14 December 2022 /regulation /crime RegTech
Gabriel Hopkins Chief Product Officer at Ripjar
There’s no shortage of articles in the press this week and last about the start of the prosecution of Wirecard executives for fraud, but how is it possible that such a large-scale fraud took so long to emerge? I first came across Wirecard in 2002. As has been detailed in Dan McCrum’s excellent book – they were an intriguing set of individuals. I ...
13 December 2022 /payments /crime Exposing Financial Crime
Philip Chethalan Marketing Manager at Subex
APIs provide rapid and scalable applications for banking, payments, and other businesses that require identity verification for AML and KYC compliance. In most countries, some firms are obliged by law to comply with AML and KYC. When such firms authenticate their consumers, APIs may provide a faster, simpler, and less expensive way to comply while ...
13 December 2022 /identity /crime Biometrics
Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions
In his ET WEALTH column entitled If it seems too good to be true, it probably is, Dhirendra Kumar describes the following asymmetry between victims and perpetrators of cybercrime: "Individual victims - even when they are well-off and educated - are poorly equipped to detect fraud. The fraudsters are invariably well-experienced at what they're...
01 December 2022 /payments /crime
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