Counter-fraud

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.

Rule-based engines and simple predictive models could identify the majority of fraud attempts in the past, yet they aren’t keeping up with the scale and severity of fraud attempts today

https://www.forbes.com/sites/louiscolumbus/2019/07/09/top-9-ways-artificial-intelligence-prevents-fraud/#30afd34e14b4

A 2019 whitepaper has revealed that 35% of UK businesses surveyed online have no system in place for whistleblowing.

A tense interview scene is a familiar staple in almost every dramatic cop show or movie made in the last 50 years. Sometimes there’s a good cop and a bad cop who use psychological push and pull in their interrogation. Sometimes it’s one determined veteran of the force, or rookie, that will do anything to get the suspect to confess. Emotions are visibly high and eventually the suspect breaks down and spills the entire account of their crimes.

https://www.fraudconferencenews.com/home/2019/6/25/emerging-trends-affecting-the-admission-seeking-interview

Fraud is a fact of modern life, and everybody is a target. Last year, 324,000 people reported falling victim to scams, a rise of 6%, and given that many are too embarrassed to admit to having been tricked, the real number is probably way higher.

https://uk.finance.yahoo.com/news/3-things-now-protect-yourself-064234572.html?soc_src=social-sh&soc_trk=tw

Entries are open for the inaugural Tackling Economic Crime Awards #TECAs designed to acknowledge companies, initiatives,
individuals and teams who have made an outstanding contribution to tackling
economic crime

http://emaila.ukfinance.org.uk/files/amf_uk_finance/project_14/TECAs_Call_for_Nominations.pdf