Counter-fraud

n my previous blog I detailed how the Fraud threat landscape for cards has changed significantly, with a reduction in card fraud in some of the major markets as consumers are spending less; and spending online rather than at bricks and mortar retail sites.

During the Covid-19 national lockdown, criminals moved fast to use this unique set of circumstances to their advantage. Here’s how to protect your savings from fraudsters.

https://www.yourmoney.com/saving-banking/blog-how-to-protect-your-savings-from-fraudsters/

Nearly half of employees with coronavirus concerns have been ignored by employers over the past seven months, while a fifth of whistleblowers were dismissed for raising concerns.

https://www.personneltoday.com/hr/covid-19-whistleblowers-are-ignored-and-dismissed-by-employers/#.X5yCv-6RcvU.twitter

As I outlined in my previous blog, we have seen a rapid movement to card channel payments as cash usage has declined during the pandemic. In the UK, as early as April this year cash withdrawals had declined by 60% (according to the UK Government) - mainly due to a combination of people staying indoors and being unable to use cash for payments, as well as reports of the risk of virus transmission by handling cash (something that the World Health Organisation has advised may not necessarily be the case).

As Brexit’s final transition date edges closer, Britain’s businesses have warned that they are running out of time to make preparations for trade, should a no-deal be reached. At the same time, the government has warned that there will be a huge amount of red tape for businesses to contend with, whatever deal is struck. Put these factors of uncertainty and increased bureaucracy together and you have the perfect recipe for trade fraud to manifest itself and thrive. Jesse Chenard, CEO at fintech MonetaGo, looks at why the risk of trade fraud is higher than ever in the current climate and how technology could provide the solution.

https://www.finextra.com/blogposting/19458/brexit-uncertainty-creates-the-perfect-conditions-for-trade-fraud-to-rise-technology-has-the-answer

The global FDP market size is expected to grow from an estimated value of USD 20.9 billion in 2020 to USD 38.2 billion by 2025, at a CAGR of 12.8% from 2020 to 2025.

2020 has been a challenging for many reasons – the global situation has changed the face many industries – perhaps forever.

Fraud happens every day to even the savviest of businesses. AI is here to turn the tides.

The UK’s accounting regulator has proposed increasing the requirements on auditors to detect fraud in company accounts following a spate of high-profile accounting scandals.

Simon Dennis, Director, Future Government and AI Evangelist , SAS UK, discusses how the UK can face a new and more widespread fraud challenge