Counter-fraud

Get Safe Online has partnered with Cifas, to launch ‘Check-a-Website’.

The new service, hosted on www.getsafeonline.org, will invite users to check if a website is safe to use before accessing. The aim from the launch is to prevent thousands of people in the UK falling victim to unwanted online scams every year.

Fraud is one of the biggest and most damaging risks businesses face. The headlines are full of organisations both in the private and public sectors affected by fraud, irregularity or other wrongdoing – either as a victim or accused. Statistics show that the threat of Corporate Fraud increases markedly in a down economy. And when such fraud occurs, it takes an average of 18 months to detect. In that timeframe, the damage to your business can be both widespread and irreversible. The hidden costs related to corporate fraud drains an estimated five per cent of revenue from corporations worldwide.

https://crigroup.com/fraud-risk-investigations/

Banks and financial institutions are increasingly utilising artificial intelligence (AI) technology for a plethora of reasons, such as credit scoring to assess a borrower’s risk more accurately or for enhancing customer service with virtual assistants. But one of the most important use cases of AI is in the fight against fraud and money laundering.

https://thefintechtimes.com/how-artificial-intelligence-is-helping-finance-firms-in-the-fight-against-fraud/

Katharine Bagshaw introduces an upcoming ICAEW publication. It recommends ways for stakeholders across the financial reporting ecosystem to better deter and detect corporate fraud and shares examples of best practice for and from audit firms.

https://www.icaew.com/technical/audit-and-assurance/faculty/audit-and-beyond/audit-and-beyond-2022/audit-and-beyond-june-2022/fighting-corporate-fraud

The Fraud Advisory Panel and Barclays Bank have launched a new campaign to help and support businesses in the fight against fraud.

https://www.icaew.com/insights/viewpoints-on-the-news/2022/jun-2022/how-can-you-protect-your-business-against-fraud

THE cost of living crisis is likely to fuel a surge in fraud and online scams, a property group warned this morning.

https://www.cityam.com/govt-warned-cost-of-living-crisis-will-lead-to-tsunami-of-fraud-as-criminals-prey-on-struggling-brits/

People shopping online may find they are asked to verify a purchase via text message more often when they get to the checkout under industry changes.

https://www.standard.co.uk/news/uk/nationwide-building-society-b998868.html

Retail Risk – London 2022

Location

Champagne Suite & Terrace

Novotel London West

One Shortlands

London W6 8DR

Date: May 19 2022

2021 was a year of innovations in payments, from the wider acceptance of blockchain and cryptocurrency to new forms of digital wallets and currency. However, this meant that online fraudsters were also innovating and devising new ways to scam consumers out of their money or personal information online. Here we will dive into some of the ways fraud has evolved and offer tips on how you can stay ahead of online fraud.

https://www.finextra.com/blogposting/22221/innovations-in-payment-fraud--and-how-to-stay-ahead-of-them

The Pensions Administration Standards Association has published guidance on pre-employment checks for administrators, as it has been made aware of fraud cases by employees of these companies.

https://www.ftadviser.com/pensions/2022/04/19/pasa-publishes-pre-employment-guidance-to-deter-fraudsters/