fraud
Ex-aide to georgia's most powerful man detained after fleeing fraud trial
TechnologyHow FPAD is transforming scam detection
HeadlinesThailand mulls wall at cambodia border as scam centre crackdown widens
FinanceOpen banking is on the UK government’s agenda, but is the vision achievable and is it what consumers need?
The shocking truth about money mule scams endangering students and banks
Date: November 28, 2024
In today’s digital age, where scams and fraud are increasingly sophisticated, college students have become prime targets for cybercriminals. These young, often tech-savvy individuals are lured into intricate schemes, unaware of the severe consequences they may face. One such dangerous practice is money mule recruitment, a tactic where individuals are unknowingly used to launder illicit...
Preparing for 2025: Securing payments in the GenAI era
Date: November 26, 2024
By Andy Vrabel, General Manager, Payment Ecosystem Solutions at LegitScript As we approach 2025, financial organizations and e-commerce platforms face unique risks amplified by generative artificial intelligence (GenAI). Changes to AI-related policy priorities and governance in the wake of the November elections are likely to accelerate these risks. As a new administration enters the White...
Fraudsters shift focus to AI-Driven scams, APP fraud remains concern
Date: November 11, 2024
AI has significantly enhanced the abilities of fraudsters, making their schemes more efficient and allowing them to evade detection for extended periods. Financial institutions are currently grappling with several major fraud challenges aligned to this scenario. Notes Yuval Marco, General Manager, Enterprise Fraud Management, NICE Actimize, authorized push payment (APP) fraud remain a key concern...
The rising threat of scams: As new regulation comes into force, can banks afford not to protect consumers?
Date: November 8, 2024
Tom Gaffney, cybersecurity expert at F-Secure, shares thoughts on what financial organisations can do as UK banks must refund fraud victims up to £85,000 under new rules. This month, in a world first, bank refunds for fraud became mandatory after the Payment Systems Regulator (PSR) reduced the maximum compensation from a previous proposal of £415,000....
Hype vs fraud – how to spot the modern day ‘red flags’ when investing in a startup
Date: October 24, 2024
By Olivia Bishop – Reputation Management Lawyer at Slateford No investor wants to live with the regret of missing out on the next big startup hit. Imagine, for example, having the recurring nightmare of those investors who missed out on buying shares in Apple in the early 90s. But how can you tell apart the future...
Britain proposes new powers for banks in fight against fraudsters
Date: October 3, 2024
LONDON (Reuters) – Britain is giving banks enhanced new powers to delay and investigate suspicious payments in a bid to slash the estimated 460 million pounds ($610 million) lost to fraud in the last year. New laws proposed by the UK finance ministry on Thursday will enable banks to pause transactions for up to...