Latest Finextra Research Security Headlines https://www.finextra.com/ The Latest Financial IT Security Headlines Copyright 2025 Finextra Research Ltd en-GB contact@finextra.com (Finextra Contact) Finextra Research Headlines https://www.finextra.com https://www.finextra.com/finextra-images/site/finextra.png Poland and Thailand set for palm payment rollouts https://www.finextra.com/newsarticle/46086/poland-and-thailand-set-for-palm-payment-rollouts?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/46086/poland-and-thailand-set-for-palm-payment-rollouts?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 03 Jun 2025 00:01:00 GMT Fintech Autopay has rolled out a biometric palm-authentication payment system in Poland. Meanwhile, Chinese tech giant Tencent is eying Thailand as a launchpad for its own biometrics-based payments technology in Southeast Asia. Binance civil enforcement action dismissed by SEC https://www.finextra.com/newsarticle/46074/binance-civil-enforcement-action-dismissed-by-sec?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/46074/binance-civil-enforcement-action-dismissed-by-sec?utm_medium=rssfinextra&utm_source=finextrafeed Fri, 30 May 2025 10:14:00 GMT In June 2023, The Securities and Exchange Commission filed charges alleging that the crypto asset trading platform committed a variety of securities law violations. Saudi academics create world's fastest quantum random number generator https://www.finextra.com/newsarticle/46073/saudi-academics-create-worlds-fastest-quantum-random-number-generator?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/46073/saudi-academics-create-worlds-fastest-quantum-random-number-generator?utm_medium=rssfinextra&utm_source=finextrafeed Fri, 30 May 2025 09:50:00 GMT Research scientists at Saudi Arabia's King Abdullah University of Science and Technology (KAUST) and King Abdulaziz City for Science and Technology (KACST) have reported the fastest quantum random number generator (QRNG) to date based on international benchmarks. LexisNexis data breach exposes personal information https://www.finextra.com/newsarticle/46060/lexisnexis-data-breach-exposes-personal-information?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/46060/lexisnexis-data-breach-exposes-personal-information?utm_medium=rssfinextra&utm_source=finextrafeed Thu, 29 May 2025 00:01:00 GMT LexisNexis Risk Solutions says a data breach at a third-party provider has exposed the personal information of more than 364,000 people. Over £1bn stolen by fraudsters in 2024 - UK Finance https://www.finextra.com/newsarticle/46048/over-1bn-stolen-by-fraudsters-in-2024---uk-finance?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/46048/over-1bn-stolen-by-fraudsters-in-2024---uk-finance?utm_medium=rssfinextra&utm_source=finextrafeed Wed, 28 May 2025 00:01:00 GMT Criminals stole £1.17 billion through fraud in the UK last year, with a slight fall in authorised push payment fraud losses offset by a rise in remote purchase fraud. Singapore ponders caning punishment for scammers https://www.finextra.com/newsarticle/46042/singapore-ponders-caning-punishment-for-scammers?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/46042/singapore-ponders-caning-punishment-for-scammers?utm_medium=rssfinextra&utm_source=finextrafeed Wed, 28 May 2025 00:01:00 GMT Singapore is considering drastic action to tackle its scam epidemic - the introduction of caning for offenders. EBAday 2025: Strategising for instant payments and financial crime https://www.finextra.com/newsarticle/46045/ebaday-2025-strategising-for-instant-payments-and-financial-crime?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/46045/ebaday-2025-strategising-for-instant-payments-and-financial-crime?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 27 May 2025 16:30:00 GMT The afternoon sessions in the main stream focused on strategising for instant payments and financial crime. EBAday 2025: Building the banking ecosystems of the future https://www.finextra.com/newsarticle/46043/ebaday-2025-building-the-banking-ecosystems-of-the-future?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/46043/ebaday-2025-building-the-banking-ecosystems-of-the-future?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 27 May 2025 14:17:00 GMT Wolfgang Ehrmann, chairman of the board, Euro Banking Association (EBA), kicked off EBAday 2025 in the historic Louvre in Paris with a welcome statement. Ehrmann reflected that today marks the 20 year milestone of EBAday as well as the fortieth anniversary of the EBA, and highlighted the event’s growth to over 1,400 experts in Paris today. Industry groups call on SEC to ditch cyber disclosure rule https://www.finextra.com/newsarticle/46033/industry-groups-call-on-sec-to-ditch-cyber-disclosure-rule?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/46033/industry-groups-call-on-sec-to-ditch-cyber-disclosure-rule?utm_medium=rssfinextra&utm_source=finextrafeed Fri, 23 May 2025 13:55:00 GMT A coalition of US financial trade associations are calling on the Securities and Exchange Commission to rescind its cyber incident disclosure rule, claiming that it endangers victims. Temenos Community Forum welcomes an era of innovation, customer centricity and agentic tools https://www.finextra.com/newsarticle/46018/temenos-community-forum-welcomes-an-era-of-innovation-customer-centricity-and-agentic-tools?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/46018/temenos-community-forum-welcomes-an-era-of-innovation-customer-centricity-and-agentic-tools?utm_medium=rssfinextra&utm_source=finextrafeed Thu, 22 May 2025 08:00:00 GMT Temenos CEO Jean-Pierre Brulard opened this year’s Temenos Community Forum (TCF), in Madrid, Spain, with an impassioned speech focused on customer and partner gratitude. Cyber attacks keep me awake at night - HSBC UK boss https://www.finextra.com/newsarticle/46014/cyber-attacks-keep-me-awake-at-night---hsbc-uk-boss?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/46014/cyber-attacks-keep-me-awake-at-night---hsbc-uk-boss?utm_medium=rssfinextra&utm_source=finextrafeed Wed, 21 May 2025 08:18:00 GMT The boss of a UK high street bank has told a panel of politicians that the possibility of a cyber attack "keeps me awake at night". JPMorgan issues AI-generated Account Confidence Score for corporate payments https://www.finextra.com/newsarticle/46007/jpmorgan-issues-ai-generated-account-confidence-score-for-corporate-payments?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/46007/jpmorgan-issues-ai-generated-account-confidence-score-for-corporate-payments?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 20 May 2025 11:52:00 GMT JPMorgan Payments is supplying treasurers with an AI-generated Account Confidence Score, enabling corporate clients to assess fraud risk before initiating a payment. FinTech Scotland and TSB launch innovation challenge to combat fraud https://www.finextra.com/pressarticle/105830/fintech-scotland-and-tsb-launch-innovation-challenge-to-combat-fraud?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/105830/fintech-scotland-and-tsb-launch-innovation-challenge-to-combat-fraud?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 03 Jun 2025 10:21:00 GMT FinTech Scotland unveiled today the latest innovation programme in collaboration with TSB Labs at Money20/20, Europe’s largest fintech conference. Quantum computing poses a threat to the crypto ecosystem, says D24 Fintech Group https://www.finextra.com/pressarticle/105823/quantum-computing-poses-a-threat-to-the-crypto-ecosystem-says-d24-fintech-group?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/105823/quantum-computing-poses-a-threat-to-the-crypto-ecosystem-says-d24-fintech-group?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 03 Jun 2025 09:32:00 GMT Quantum computing continues to advance rapidly, with many believing that its commercial use is not far away, leading several experts to believe it could pose a serious risk to the crypto industry. DTCC appoints Laura Deaner as chief information security officer https://www.finextra.com/pressarticle/105818/dtcc-appoints-laura-deaner-as-chief-information-security-officer?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/105818/dtcc-appoints-laura-deaner-as-chief-information-security-officer?utm_medium=rssfinextra&utm_source=finextrafeed Mon, 02 Jun 2025 13:46:00 GMT The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced the appointment of Laura Deaner as Chief Information Security Officer (CISO), reporting to Lynn Bishop, Chief Information Officer. Sumsub introduces bank account verification across Europe https://www.finextra.com/pressarticle/105784/sumsub-introduces-bank-account-verification-across-europe?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/105784/sumsub-introduces-bank-account-verification-across-europe?utm_medium=rssfinextra&utm_source=finextrafeed Thu, 29 May 2025 10:03:00 GMT Sumsub, a global full-cycle verification platform, announces the launch of its Bank Account Verification solution. Emirates NBD taps iPiD for confirmation of payee https://www.finextra.com/pressarticle/105774/emirates-nbd-taps-ipid-for-confirmation-of-payee?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/105774/emirates-nbd-taps-ipid-for-confirmation-of-payee?utm_medium=rssfinextra&utm_source=finextrafeed Wed, 28 May 2025 16:46:00 GMT Emirates NBD, a leading banking group in the Middle East, North Africa, and Türkiye (MENAT) region, has announced its partnership with iPiD, a global Know Your Payee (KYP) validation provider. Apple stopped over $2 billion in potentially fraudulent transactions in 2024 https://www.finextra.com/pressarticle/105772/apple-stopped-over-2-billion-in-potentially-fraudulent-transactions-in-2024?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/105772/apple-stopped-over-2-billion-in-potentially-fraudulent-transactions-in-2024?utm_medium=rssfinextra&utm_source=finextrafeed Wed, 28 May 2025 15:24:00 GMT Since launching in 2008, the App Store has been a safe and trusted place for users and a vibrant marketplace for developers to grow their businesses around the world. Esma urges social media companies to tackle unauthorised financial ads https://www.finextra.com/pressarticle/105767/esma-urges-social-media-companies-to-tackle-unauthorised-financial-ads?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/105767/esma-urges-social-media-companies-to-tackle-unauthorised-financial-ads?utm_medium=rssfinextra&utm_source=finextrafeed Wed, 28 May 2025 13:41:00 GMT The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today written to several social media and platform companies (X, Meta, TikTok, Alphabet, Telegram, Snap, Amazon, Apple, Google, and Reddit) encouraging them to take proactive steps to prevent the promotion of unauthorised financial services. Experian issues new warning as identity fraud soars in Q1 2025 https://www.finextra.com/pressarticle/105763/experian-issues-new-warning-as-identity-fraud-soars-in-q1-2025?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/105763/experian-issues-new-warning-as-identity-fraud-soars-in-q1-2025?utm_medium=rssfinextra&utm_source=finextrafeed Wed, 28 May 2025 12:23:00 GMT The level of identity fraud prevented in the first three months of the year has soared by 10%, new insights from Experian reveal. Argentinian banks join BioCatch Trust network for real-time fraud intelligence-sharing https://www.finextra.com/pressarticle/105720/argentinian-banks-join-biocatch-trust-network-for-real-time-fraud-intelligence-sharing?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/105720/argentinian-banks-join-biocatch-trust-network-for-real-time-fraud-intelligence-sharing?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 27 May 2025 09:53:00 GMT Banco Galicia, Naranja X, and Santander today announced they’d joined BioCatch Trust Argentina, the western hemisphere’s first inter-bank, behavior- and device-based, real-time fraud and scams intelligence-sharing network. Mastercard opens cyber resilience centre in Saudi Arabia https://www.finextra.com/pressarticle/105714/mastercard-opens-cyber-resilience-centre-in-saudi-arabia?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/105714/mastercard-opens-cyber-resilience-centre-in-saudi-arabia?utm_medium=rssfinextra&utm_source=finextrafeed Mon, 26 May 2025 13:26:00 GMT Mastercard has launched its Cyber Resilience Center, an initiative that brings together key players from the financial sector to foster collaboration and support shared goals in building a secure commerce and payment ecosystem in the Kingdom. Greenlite AI raises $15m to help banks and fintechs fight financial crime https://www.finextra.com/pressarticle/105685/greenlite-ai-raises-15m-to-help-banks-and-fintechs-fight-financial-crime?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/105685/greenlite-ai-raises-15m-to-help-banks-and-fintechs-fight-financial-crime?utm_medium=rssfinextra&utm_source=finextrafeed Wed, 21 May 2025 17:47:00 GMT Greenlite AI, the leading AI agent platform for financial services, today announced a $15 million Series A funding round, bringing its total capital raised to $20 million. MRI Software integrates Nova Credit Income Navigator https://www.finextra.com/pressarticle/105684/mri-software-integrates-nova-credit-income-navigator?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/105684/mri-software-integrates-nova-credit-income-navigator?utm_medium=rssfinextra&utm_source=finextrafeed Wed, 21 May 2025 16:34:00 GMT MRI Software, a global leader in real estate solutions and services, announces that it has integrated Nova Credit's Income Navigator into its fraud prevention and applicant qualification solution. The Key Impact of Open Finance & Security on Instant Payments https://www.finextra.com/videoarticle/3250/the-key-impact-of-open-finance--security-on-instant-payments?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3250/the-key-impact-of-open-finance--security-on-instant-payments?utm_medium=rssfinextra&utm_source=finextrafeed Wed, 28 May 2025 13:00:00 GMT Joining the FinextraTV studio at NextGen Nordics, Anna-Karin Lindblom, Head of Product Management, Ericsson Mobile Financial Services, explained how instant payments have evolved and the challenges with geopolitical tensions. From analysing the ways in which awareness around security has grown to emphasising the importance of open finance to the success of instant payment, Lindblom provides an insight into an evolving moment. Verification of Payee Future is Bright, But Must Go Further https://www.finextra.com/videoarticle/3248/verification-of-payee-future-is-bright-but-must-go-further?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3248/verification-of-payee-future-is-bright-but-must-go-further?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 20 May 2025 10:00:00 GMT Attending the 2025 NextGen Nordics event, Vasile Valcov, Business Development Consultant, Banfico, shared his optimism and passion for the development of VOP and Open Banking. Contextualising the current landscape and positive trajectory, Valcov also explains its challenges and discusses whether it is enough as it currently is. Combating Cyber Threats: The role of AI, Partnerships and Education https://www.finextra.com/videoarticle/3234/combating-cyber-threats-the-role-of-ai-partnerships-and-education?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3234/combating-cyber-threats-the-role-of-ai-partnerships-and-education?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 01 Apr 2025 10:00:00 GMT Joining the FinextraTV studio, Michele Centemero, EVP, Regional Services Lead, Mastercard, outlined the stark position the world is in when it comes to the cybersecurity threat we face. As technology increases, it becomes both the problem and the solution, Centemero discusses what the landscape currently looks like and how education and partnership are key to heading in the right direction. Digital Transformation: Get a Handle on Your Data First https://www.finextra.com/videoarticle/3236/digital-transformation-get-a-handle-on-your-data-first?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3236/digital-transformation-get-a-handle-on-your-data-first?utm_medium=rssfinextra&utm_source=finextrafeed Wed, 26 Mar 2025 16:00:00 GMT In this FinextraTV interview, Arsalan Minhas, AVP, Sales Engineering EMEA & APAC, Hyland and Matt Bazley, Account Executive, Hyland explain the evolution of digital transformation. Whilst discussing the usage of AI, blockchain and new-age technologies, they also define the importance of well-structured, transparent and secure data as a first priority Higher Quality Consumer Experience & Quicker Fraud Detection https://www.finextra.com/videoarticle/3225/higher-quality-consumer-experience--quicker-fraud-detection?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3225/higher-quality-consumer-experience--quicker-fraud-detection?utm_medium=rssfinextra&utm_source=finextrafeed Thu, 02 Jan 2025 09:00:00 GMT There were a number of key takeaways at Finextra’s inaugural ‘NextGenAI’ event, but one that excited all, in particular, were the opportunities for fraud prevention. In this interview at the FinextraTV event studio, Stathis Onasoglou, Field CTO, Google discussed the statistics and real life use cases for GenAI across fraud prevention, efficiency and revenue generation. Onasoglou explains how as technology continues to develop, it increases our ability to detect fraud earlier and faster, as well as enhancing the customer experience. For Innovative AI Deployment, Collaboration is the Key https://www.finextra.com/videoarticle/3219/for-innovative-ai-deployment-collaboration-is-the-key?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3219/for-innovative-ai-deployment-collaboration-is-the-key?utm_medium=rssfinextra&utm_source=finextrafeed Fri, 06 Dec 2024 10:00:00 GMT At Finextra’s inaugural NextGenAI event, Roberto Napolitano, CMO, Innovate Finance discussed his belief in collaboration as the key to AI success in this interview in the FinextraTV studio. In addition to the need to upskill the individual and predictions around personalised finance increasing, Napolitano stressed the importance of a holistic approach to AI innovation. Payments Innovation will be Threefold: Embedded, Cross-Border and GenAI https://www.finextra.com/videoarticle/3201/payments-innovation-will-be-threefold-embedded-cross-border-and-genai?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3201/payments-innovation-will-be-threefold-embedded-cross-border-and-genai?utm_medium=rssfinextra&utm_source=finextrafeed Thu, 14 Nov 2024 12:45:00 GMT In this PREDICT 2025 interview, Gautam Pillai, Head of Fintech Research at investment bank Peel Hunt, looks at the bigger picture and takes into account how the payments industry is transforming alongside consumer trends. Buzz and excitement surrounds three developments, which are embedded payments, cross border payments and generative AI and the interview discusses how organisations working in these areas are already helping businesses transact easier, faster and in a way where they are not sacrificing security. How Can AI and Collaboration Combat Rising Financial Crime? https://www.finextra.com/videoarticle/3192/how-can-ai-and-collaboration-combat-rising-financial-crime?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3192/how-can-ai-and-collaboration-combat-rising-financial-crime?utm_medium=rssfinextra&utm_source=finextrafeed Wed, 23 Oct 2024 14:12:00 GMT In a conversation ahead of Sibos 2024, Laura Quevedo, Executive Vice President of Financial Crime and Resiliency at Mastercard, highlights the growing threat of financial scams in the digital age, with cybercriminals increasingly using AI to exploit consumers. Companies are stepping up their investments in cybersecurity and AI technology to stay ahead of evolving threats, as AI-powered tools like real-time fraud detection solutions become critical in preventing financial crime. Quevedo emphasises a three-pronged strategy: leveraging AI for fraud prevention, collaborating across industries to share insights, and educating consumers on emerging scams. How Will New Technologies Shape the Future of Payments? https://www.finextra.com/videoarticle/3186/how-will-new-technologies-shape-the-future-of-payments?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3186/how-will-new-technologies-shape-the-future-of-payments?utm_medium=rssfinextra&utm_source=finextrafeed Wed, 23 Oct 2024 09:00:00 GMT In an interview with FinextraTV in the lead-up to Sibos 2024, Pilar Fragalà, Chief Commercial Officer of CBI, explores the impact of digital technologies and regulations on payment services. Highlighting the role of AI, APIs, and blockchain in enhancing security and speed, while PSD2 and PSD3 drive open banking and consumer protection, the discussion focuses on innovations like embedded finance and instant payments that offer transparency and flexibility. Addressing growing fraud risks, the interview examines how technology can prevent fraudulent transactions by verifying IBAN and beneficiary details in real time. Embracing the Shift: Instant Payments and Infrastructure Transformation https://www.finextra.com/videoarticle/3185/embracing-the-shift-instant-payments-and-infrastructure-transformation?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3185/embracing-the-shift-instant-payments-and-infrastructure-transformation?utm_medium=rssfinextra&utm_source=finextrafeed Mon, 21 Oct 2024 08:24:00 GMT Michael Engel, Managing Director & VP of Banking Software at Diebold Nixdorf, highlights the growing shift from traditional to instant payments, driven by increasing demand for speed and agility in transactions. While methods like SEPA and the digital euro gain momentum, the challenge of integrating these with legacy systems persists. Engel emphasises the importance of affordable, cloud-native, microservices-based platforms to boost scalability and security, especially in e-commerce. Success stories show banks launching new services within weeks, a dramatic improvement from the previous six to nine months. As consumer expectations rise, financial institutions must balance innovation with reliability. Can Financial Institutions Keep Up with the $33 Billion Fraud Surge? https://www.finextra.com/videoarticle/3184/can-financial-institutions-keep-up-with-the-33-billion-fraud-surge?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3184/can-financial-institutions-keep-up-with-the-33-billion-fraud-surge?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 15 Oct 2024 09:00:00 GMT Reflecting on insights from last month’s Visa Payments Forum, Tareq Muhmood, SVP, Value Added Services, Europe, Visa, addresses the dramatic rise in global fraud—from $800 million in the early '90s to $33 billion in 2023. As financial institutions grapple with the increasing complexity of fraud in the digital age, the need for adopting advanced technologies like AI and real-time data analysis becomes clear. With a 50% boost in fraud detection through artificial intelligence, this interview underscores the urgency for banks and fintechs to evolve their security strategies. As fraud tactics continue to evolve, partnerships and continuous innovation are now critical for staying ahead of threats while maintaining seamless payment experiences. Fighting Fraud with Form3: The Importance of Inbound Transaction Screening https://www.finextra.com/videoarticle/3177/fighting-fraud-with-form3-the-importance-of-inbound-transaction-screening?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3177/fighting-fraud-with-form3-the-importance-of-inbound-transaction-screening?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 17 Sep 2024 10:00:00 GMT In Part 2 of this series, FinextraTV and Chris Oakley, Head of Fraud, Form3, highlights an upcoming substantial shift in the sector where due to incoming regulations from the PSR in the UK and PSD3 across the European Union, banks will have to double down on their focus on the risk associated with receiving a payment, not only sending a payment as has been the case historically. With current fraud screening methods built for outbound payments, after these regulations are mandated, receiving banks and sending banks will be forced to split liability for fraud and reimburse victims due to the PSR. This dichotomy must also lead to changes in the way that money mules are detected, which is usually also conducted retrospectively - where this convergence of fraud mitigation and anti-money laundering happens, risks need to be managed in real-time and a wider single view of the customer will be of paramount importance. Fighting Fraud with Form3: The Importance of Collaborative Intelligence https://www.finextra.com/videoarticle/3175/fighting-fraud-with-form3-the-importance-of-collaborative-intelligence?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3175/fighting-fraud-with-form3-the-importance-of-collaborative-intelligence?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 10 Sep 2024 12:00:00 GMT In Part 1 of this series, FinextraTV and Chris Oakley, Head of Fraud, Form3, points out why banks remain hesitant to share data, explores the misconceptions around regulations such as GDPR, and where levels of fraud would be if the standard was named GDSR, focusing on data sharing. While many financial institutions continue to be concerned about whether they are breaching rules and obligations, in certain situations, the fact that sharing data for fraud prevention can be useful and is a legitimate reason, is lost. To avoid this vicious circle, banks must take advantage of collaborative intelligence to mitigate rising financial crime cases such as APP fraud scams and share data where insights and intelligence can be exchanged between organisations in a secure environment, building a collaborative view. The final countdown: What’s next for Verification of Payee? https://www.finextra.com/event-info/556/the-final-countdown-whats-next-for-verification-of-payee?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/event-info/556/the-final-countdown-whats-next-for-verification-of-payee?utm_medium=rssfinextra&utm_source=finextrafeed Thu, 12 Jun 2025 15:00:00 GMT Verification of Payee (VOP) is around the corner. Are organisations ready? Training AI Agents Like Behavioral Scientists to Excel at Preventing Scams and Fraud https://www.finextra.com/blogposting/28557/training-ai-agents-like-behavioral-scientists-to-excel-at-preventing-scams-and-fraud?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/blogposting/28557/training-ai-agents-like-behavioral-scientists-to-excel-at-preventing-scams-and-fraud?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 27 May 2025 15:59:56 GMT As scams become more advanced and personalized, the tactics used to manipulate individuals are incre... 6 Ways banks and credit unions can use fraud prevention for better CX https://www.finextra.com/blogposting/28598/6-ways-banks-and-credit-unions-can-use-fraud-prevention-for-better-cx?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/blogposting/28598/6-ways-banks-and-credit-unions-can-use-fraud-prevention-for-better-cx?utm_medium=rssfinextra&utm_source=finextrafeed Mon, 02 Jun 2025 15:05:32 GMT Banks and credit unions are under constant pressure to retain customers, especially younger generati... Sponsor's message: New Industry Survey Report – Navigating the Nordic financial landscape: 2025 challenges and priorities https://www.finextra.com/banners/banner.aspx?opt=ad&baid=7724 https://www.finextra.com/banners/banner.aspx?opt=ad&baid=7724 Mon, 28 Apr 2025 00:00:00 GMT New Industry Survey Report – Navigating the Nordic financial landscape: 2025 challenges and priorities