549 Results from /crime
Ben O'Brien Managing Director at Jaywing
Fraud impacts every sector of society – from major corporations to everyday consumers. Recent trends reveal marked shifts in fraudster behaviour, highlighted by a 31% increase in romance scam payments over the past year and new patterns in investment fraud. These scams continue to grow in sophistication, combining advanced technology with social e...
05 December 2024 /crime
Francesco Fulcoli Chief Compliance and Risk Officer at Flagstone
The 29th of November 2024, the Financial Conduct Authority (FCA) published Policy Statement PS24/17, which introduced significant updates to its Financial Crime Guide (FCG). These revisions followed a consultation period launched in April 2024 (CP24/9) and were driven by the FCA’s ongoing commitment to ensuring that firms possess robust systems...
04 December 2024 /regulation /crime Fintech
Gus Tomlinson Managing Director, Identity Fraud at GBG
As we approach the end of one year and head into the next, we go through a period notoriously rife for scams. Each year, it’s the same cycle: Black Friday, Cyber Monday, Boxing Day sales and January sales. When eCommerce boomed, so did online purchase and payment fraud, both growing hand in hand. But, thanks to the predictability of fraudsters act...
02 December 2024 /crime /predictions Digital Identity Management
Binh Dang Sales and Marketing Executive at smartKYC
The role of Know Your Customer (KYC) analysts has undergone a profound transformation over the past decade, shaped largely by advances in technology, particularly artificial intelligence (AI) and more recently, Generative AI. Historically, the job of a KYC analyst revolved around manually processing large amounts of data, reviewing customer profil...
29 November 2024 /ai /crime RegTech
Zach Meyers Assistant Director at Centre for European Reform
As EU law-makers update Europe’s payments laws, they want to tackle the bloc’s growing number of impersonation, romance and investment scams. Clamping down on these types of scams demands close collaboration between banks, telecoms companies, online platforms and public authorities. However, Members of the European Parliament (MEPs) instead want t...
27 November 2024 /payments /crime
Alexandre Kech CEO at The Global LEI Foundation
The scale, sophistication, and impact of corporate fraud have reached unprecedented levels worldwide. Interpol’s 2024 Global Financial Fraud Assessment reports that “financial fraud has increased and diversified significantly [and] represents a pervasive, global threat.” Even more sobering is the expectation that the “magnitude of financial fraud [...
27 November 2024 /identity /crime Exposing Financial Crime
Nickii Mallia Business Development Manager at Aqubix Ltd - KYC Portal
Effective client lifecycle management extends beyond initial onboarding. It involves continuous monitoring, relationship management, and customer engagement. Here are some strategies to enhance CLM: Risk-Based Approach Adopt a risk-based approach to client management. Prioritise high-risk clients for more frequent reviews and enhanced due diligence...
27 November 2024 /regulation /crime
Anders Olofsson Payment Oracle at FintechCore
In end of December 2024 the Sveriges riksbank is extending the domestic real time payments system, RIX Inst, to enable bank initiated account to account payments. Already the SWISH wallet has moved its clearing and settlement to this platform. Where SWISH and many other wallets and peer-to-peer solution are adopting an alias service to enable the...
26 November 2024 /payments /crime
Joshua Vowles-Dent Business, Strategy and Partnerships Manager at ComplyCube
Do you trust me? A question someone you’ve known for years asks you just before suggesting doing something that is either entirely new or somewhat outside of your comfort zone. Your answer is yes. It’s always yes. (Unless it’s not. Awkward). So, you commit. You jump. You put your trust in their hands. You fall backward, knowing they’ll always catc...
26 November 2024 /identity /crime Digital Identity Management
Shagun Malhotra CEO and Founder at SkyStem
Emerging threats for accounting firms have steadily risen over the years, with more and more business emails being compromised, leading to an annual loss of around $2.4 billion. Just a few months back, an accounting service based in Maine suffered a huge data breach that compromised personal information of over 1.1 million individuals. Unfortun...
25 November 2024 /security /crime Exposing Financial Crime
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