Counter-fraud

There are a lot of fraud-like situations, where there’s no fraud in the strictest sense of the term, but consumers feel defrauded. Let me give a few examples:

Risk A group of local leaders has joined forces to help protect Mid Wales communities from the evolving risk of fraud during the COVID-19 crisis.

https://businessnewswales.com/protecting-mid-wales-communities-against-evolving-fraud-risk/

HM Revenue & Customs made its first arrest for alleged fraud relating to the UK government’s furlough scheme in July.

Amazon Web Services (AWS) has launched a fully-managed fraud detection services that it believes can identify potential fraud activity in ‘milliseconds’.

It’s one of the most common forms of occupational fraud: employees fudging on their expense accounts.

https://www.crigroup.com/tips-for-preventing-and-detecting-expense-account-fraud/

The risk of fraud while working from home still looms, but as workers gradually return to workplaces the chance of fraud still remains. Our Fraud & Privacy special report, published in The Times, examines how cybercriminals continue to thrive in the uncertainty of a global pandemic, how invoice emails are the latest vehicle for fraudsters, and the cost of giving in to hackers. It looks at the debate around ethical surveillance and how activists are finding ways around facial recognition software. It explores what counterfeit fashion is costing brands in reputation and revenue, and new technology that might be an answer. Also featured is an infographic on the Dark Web and how it has become a lucrative marketplace for so many.

ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced it is extending its partnership with Three UK to combat eCommerce fraud, which has increased during the Covid-19 pandemic.

Digital Identity platform is aimed at reducing the growing threat of ID theft

https://www.techradar.com/news/ee-launches-new-identity-check-platform-to-tackle-fraud

EE has announced its new Digital Identity platform which it hopes will protect customers from becoming fraud victims. The platform consists of a number of tools including a SIM swap checker and a call diversion checker. EE has worked with several banks in the UK that can now leverage these tools to provide more security when authenticating customers.

https://www.neowin.net/news/ee-launches-digital-identity-platform-to-prevent-fraud

Economists predict the disruption caused by the coronavirus pandemic will be felt well into 2021. Banks have been left vulnerable and have to contend with fraudsters who are using Covid-19 as an opportunity to commit financial crime, exploiting consumer fear and the increase in digital payments.

https://www.finextra.com/researcharticle/148/how-to-prevent-payments-fraud-amid-global-disruption