Counter-fraud

The fraud watchdog has told firms they will need to go “above and beyond what the law requires” if they want to co-operate with its investigations.

For too long companies have turned a blind eye to corporate travel and subsistence fraud, but there are solutions to make processes more efficient and secure

On 2 April 2019, the BEIS Committee published a report following its inquiry into the future of audit setting out its recommendations for audit reform. We discussed the BEIS Committee's inquiry into the future of audit in our Q4 2018 edition at page 5.

http://www.mondaq.com/uk/x/830460/Audit/BEIS+Committee+Published+Report+Following+Its+Inquiry+Into+The+Future+Of+Audit

Half year update – July 2019

https://globalinvestigationsreview.com/digital_assets/5ebd9b35-457e-4d41-84cb-22ace5fecc08/GIR_Practitioners_Guide_Newsletter_3.pdf

Financial services, and payment systems in particular, continue to transform at a great pace. Such transformation, and the speed with which money can now move, provides consumers of financial services with more choice and greater convenience.

https://www.finextra.com/blogposting/17536/preventing-payments-fraud-in-a-flash

NICE Named Leader in Real Time Authentication and Fraud Prevention by Top Analyst Firm

The financial services sector is evolving rapidly: increasing and changing customer expectations, a radical shift towards digital channels (mobile), a tsunami of new regulations (PSD2, GDPR, MiFID2, Dodd-Frank act…​), new technological evolutions (e.g. IoT), increased competition of FinTech players…

https://www.finextra.com/blogposting/17515/multi-factor-authentication-and-identity-fraud-detection-in-the-financial-services-industry

“Someone else will do it.” This sentiment probably sounds familiar — we use it plenty in our daily lives, perhaps referring to doing the dishes or other mundane tasks. However, this sentiment can have detrimental effects in many aspects of our lives and to an organization’s fraud risk management program. Enter the bystander effect.

https://www.acfe.com/fraud-examiner.aspx?id=4295006589

FW: How would you characterise the level of fraud risk that can arise from third-party relationships in today’s business world?

A recent study carried out by YouGov has shown that 1 in 12 people wouldn’t be able to differentiate a fraudulent £20 being spent on their account from a legitimate one.