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19% consumer and retail fraud increase in England and Wales reports ONS

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19% consumer and retail fraud increase in England and Wales reports ONS

The Office of National Statistics (ONS) has reported there were approximately 3.6 million consumer and retail fraud incidents in 2024, a 19% rise for the same period in 2023.

Sibos: Interpol’s I-GRIP tool requested by increasing number of countries

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Sibos: Interpol’s I-GRIP tool requested by increasing number of countries

Australia, Canada, Japan, Korea and Spain were among those mentioned as requesting to use Interpol’s Global Rapid Intervention of Payments (I-GRIP) system by Sungyong Kang, criminal intelligence officer, Interpol, during a panel at Sibos.

AFP: Business continuity starts with careful plans

/crime

AFP: Business continuity starts with careful plans

A series of tough questions greeted a room of just-arrived attendees to AFP in Nashville, Tennessee before the keynote address from Malcolm Gladwell who delved into weighty matters, exploring anecdotes and examples from his new book Revenge of the Tipping Point.

E-ID firm Authologic raises $8.2 million Series A

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E-ID firm Authologic raises $8.2 million Series A

Polish identity verification vendor Authologic has closed on an $8.2 million Series A funding round.

AFP: Fraud is the biggest painpoint for accounts payables automation

/crime

AFP: Fraud is the biggest painpoint for accounts payables automation

Kicking off the first day of AFP, the conference for finance and treasury professionals held in Nashville, Tennessee this year, Mike Watercott, CTP, working capital consultant, US Bank, led a discussion on striking the balance in payments with Andy Sullivan, vice president of channel sales, Bottomline and Cynthia MacGeagh, treasury manager, Clayton Homes.

Axiom Bank hit with enforcement action

/crime

Axiom Bank hit with enforcement action

The Office of the Comptroller of the Currency (OCC) has filed an enforcement action against Axiom Bank in Florida.

Climb Credit sued by CFPB for “false promises and outright lies”

/crime

Climb Credit sued by CFPB for “false promises and outright lies”

The Consumer Financial Protection Bureau (CFPB) has announced its suit against Climb Credit and its largest shareholder 1/0 for misrepresenting the quality of its training programmes at partner schools.

Over 62% of UK cite mobile app fraud as top concern

/crime

Over 62% of UK cite mobile app fraud as top concern

62.1% of UK consumers see mobile app fraud as a top concern, with 50% also citing hacking as a fear, according to findings from the Open Worldwide Application Security Project (OWASP) and Appdome.

Fintech Australia backs government's scam prevention plan

/crime

Fintech Australia backs government's scam prevention plan

The industry group for Australia's startup sector, Fintech Australia, has given its support for the government's proposals to implement scam obligations for financial services firms.

Big tech and banks fall out over compensation for fraud victims

/crime

Big tech and banks fall out over compensation for fraud victims

A war of words has broken out between banks and big tech firms over who should be primarily responsible for reimbursing victims of fraud.

Ecommerce fraud to exceed $100bn by 2029

/crime

Ecommerce fraud to exceed $100bn by 2029

The value of ecommerce fraud is set to rise threefold in the next five years, thanks to the impact of AI.

UK payments could be delayed up to three days to prevent fraud

/crime

UK payments could be delayed up to three days to prevent fraud

The UK Treasury will give banks new powers to delay payments by up to 72 hours to investigate suspected fraud or scams.

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