Counter-fraud

There has been a jump in people trying to hide poor repayment histories when applying for financial products, according to a fraud prevention service.

Millennials grew up online. From making their first screen names with America Online in the ’90s and poking around chatrooms, to using HTML to customize their Myspace pages in high school, and now curating their Instagram feeds, navigating the internet is second nature to these digital natives

https://uk.news.yahoo.com/millennial-money-online-fraud-target-151535278.html?soc_src=social-sh&soc_trk=tw

Nearly half (46%) of Brits are unsure they’d be able to spot fraudulent transactions on their bank statement, with the number of transactions per debit card increasing by 90% over a decade.

https://uk.finance.yahoo.com/news/half-of-brits-unable-to-spot-telltale-signs-of-fraud-105040277.html?soc_src=social-sh&soc_trk=tw

How can the financial industry use technology to tackle some of their biggest issues?

Doctors told a patient’s widower about the failings in an operation that led to her death

Fraudsters in the UK “currently operate with impunity” and police have not kept pace with the sharp rise in cases, a report has found.

As the global economy becomes increasingly interconnected, professionals must be able to access immediate countermeasures in order to investigate criminal financial activity within corporations, international financial institutions and other types of clients. The specially developed capabilities of interviewers tasked with understanding the nature of financial crime are central to that response. Interviewers piece together the various details of the puzzle that the investigators assemble. In certain cases, the testimony of a single witness or suspect serves as the most significant piece of evidence for a judge or jury at a criminal trial.

https://www.financierworldwide.com/use-of-interviews-in-international-fraud-investigations#.Xi7aYG52uP9

As part of its major online expansion plans, UK food retailer and convenience store operator Co-op is launching a range of innovative payment solutions and upping its online payment fraud protection.

https://internetretailing.net/payment/payment/co-op-ups-payment-fraud-protection-as-it-expands-its-online-offering-and-invests-in-innovative-payment-tools-20809

A new anti-fraud offering has hit the British pet insurance market.

22 January 2020: once the UK finally leaves the EU, businesses of all kinds will experience economic costs and opportunities. Will one of the costs be an increased risk of fraud? We asked two experts for their views.

https://www.icaew.com/insights/viewpoints-on-the-news/2020/jan-2020/debate-will-brexit-result-in-more-fraud