Counter-fraud

Top UK traditional and challenger banks risk exposing customers to email fraud, a study reveals

Economic Crime has a significant impact on the UK economy; with an estimated 3.24 million fraud offences taking place year ending March 2018 (Office of National Statistics 2018).  These new awards serve to reward and acknowledge those who make a significant contribution in driving out any area of Economic Crime, such as fraud, money laundering, bribery and corruption.

https://thetecas.com/2019/03/05/tecas-launched/

We often talk about fraudsters being the most trusted and loyal employees, and when I teach about fraud, I have lengthy conversations with the participants about ways to identify these individuals.

https://www.acfe.com/fraud-examiner.aspx?id=4295005400&Site=ACFEWEB#.XJ_3o70iTsw.twitter#.XJ_3o70iTsw.twitter

For at least the last three decades, fraud monitoring of transactions and portfolios has been a cornerstone of protecting the brand, be it for scheme, bank or consumer reputation. There have been a number of heavy-duty products in the market place in that time that target specific monitoring needs. However financial institutions can meet regulatory requirements with an excel sheet – (the main card schemes mandate that their members should use a fraud system – but do not necessarily mandate what that system should have as functionality). So, what is the tipping point?

https://www.finextra.com/blogposting/16846/tipping-point---when-simplicity-is-not-enough-in-a-fraud-system

As financial institutions battle fraudsters, they still face enormous pressures to grow the business, deliver innovative services, and comply with strict regulatory requirements.

New authentication methods make it harder for fraudsters

Whistleblowing is becoming more accepted as a way for organisations to access internal information that can help leaders to minimise risks. Are you weighing up the possibility of implementing a whistleblowing system in your organisation? In this post we will share feedback from our work with customers to highlight the whistleblowing benefits that your organisation and its stakeholders may expect. We aim to describe the benefits from the perspective of different stakeholder groups.

https://whistleb.com/blog-news/whistleblowing-benefits/

Mastercard continues its spending spree, agreeing to buy Ethoca, a firm that helps merchants and card issuers collaborate in real-time to identify and resolve fraud in digital commerce. Financial terms were not disclosed.

https://www.finextra.com/newsarticle/33522/mastercard-to-buy-ethoca-to-reduce-fraud-in-digital-commerce

The Tackling Economic Crime Awards @theTECAs recognise and reward individuals, initiatives and companies involved in tackling different areas of economic crime

https://thetecas.com/

The insurance industry’s collective fight against fraud strengthened this week as Autonet Insurance joined the Insurance Fraud Bureau’s (IFB) membership.