fraud
FinanceFraud and scam predictions that will shape 2023
TechnologyGet wise to the growing threat of FinTech job candidate fraud in 2023
BusinessUK stop ad funded crime (uksafc) set up to tackle online fraud
BankingWhat impact does proposed U.S. legislation on authorized fraud liability have on banks?
Criminal minds: Account opening fraud tactics put to the test
Date: October 31, 2022
By Raj Dasgupta, Director, Global Advisory, BioCatch The last two years have created a perfect storm for account opening fraud. Many banks and organisations were unprepared to handle an increase in online transactions and the widespread usage of digital services spurred by the pandemic. Criminals exploited the system by falsely applying online for economic relief...
Combatting account takeover fraud – how to fine-tune your arsenal
Date: October 13, 2022
By Stuart Tarmy, Global Director, Financial Services Industry Solutions, Aerospike, Inc Account takeover fraud is one of the most dangerous types because a person actually gains access and takes over someone else’s banking, brokerage, credit card, or another critical financial account. The Q3 2022 Digital Trust & Safety Index by fraud prevention platform Sift revealed a 131% increase...
Bank fraud falls from COVID high but threatens UK security
Date: October 13, 2022
By Kirstin Ridley LONDON (Reuters) – Bank fraud has cost British consumers nearly 610 million pounds ($679 million) so far this year, posing a national security threat, lobby group UK Finance said on Thursday. Although fraud levels fell 13% from an exceptional spike in the first half of 2021, as lockdowns to curb COVID-19 forced...
UK banks told to reimburse customers tricked by scams
Date: September 29, 2022
By Huw Jones LONDON (Reuters) – Banks will have to reimburse customers tricked into sending money in a type of online scam that has become Britain’s largest type of payment fraud, the Payment Systems Regulator proposed on Thursday. The PSR proposed that banks must reimburse payments over 100 pounds ($107.39) in “authorised push payment” (APP)...
How to stay ahead of the corporate payments curve
Date: September 27, 2022
By Neal Anderson, VP Payments Strategy at Medius, and President/CEO of OnPay Solutions The corporate payments space has changed dramatically over the past two years. Businesses continue to seek ways to optimize their operations and work smarter in a tough and volatile economic climate. As a result, digital transformation has risen to the top of...
Critical facts about know your business (KYB) in 2022
Date: September 16, 2022
By Rick Song, CEO, Persona While KYC, or Know Your Customer, is a well-established framework known across many industries and most countries, its younger sibling Know Your Business (KYB) has not shared the limelight. However, KYB is just as important for financial companies that wish to remain compliant — and any company that...