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2022 brought renewed attention to the anti-money-laundering (AML) space and the know your customer (KYC) processes underpinning it. High profile cases, such as the criminal trial of Credit Suisse for ...
Back in 2002, the fraud losses related to eCommerce fraud on UK-issued debt and credit cards amounted to 28 million pounds. Decades later, that number continues to skyrocket, with the annual losses
Increased online footfall and transactions mean more opportunities for fraudsters, especially when traffic peaks with holidays, sporting seasons and January sales, for instance. Fraudsters are adept a...
It is becoming increasingly harder to delineate between fraud risk and compliance risk. The speed with which identity fraudsters and money launderers move to exploit gaps within financial crime risk m...
In 2015, the European Parliament passed a directive “on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing”. Under this article, member stat...
While KYC and AML have been front of mind when it comes to compliance and the fight against fraud, anti-bribery and corruption compliance hasn’t been in the spotlight as much lately. However, that doe...
Despite recent scandals in the broader crypto industry, which have given weight to severe skepticism for further trust in the crypto, the reality is crypto is not going to go away. As more and more me...
In September 2022, the Securities Exchange Commission (SEC) and Commodity Futures Trading Commission (CTFC) reached settlements totalling around $1.8 billion with 12 of Wall Street’s leading investme...
It was seven years ago in the weekly update with the Data Science team. As Chief Cyber Officer and co-founder of behavioral biometrics company BioCatch, which specializes in online fraud detection,
As more and more banks implement an omnichannel experience to serve their customers, it’s clear that fraud management needs to follow suit. Consider the limited scope of branches as digital transacti...
‘Twas the night before 2023, when all through the digiverse, Fraudsters were stirring, planning their next curse. Digital programs are launched, we think with great care. Then chaos ensues, and we cou...
As we observe the global financial pressures, rapid changes in geo-political situation, ESG, and the Web 3.0 (with NFTs, DeFi, AI, the Metaverse, crypto and open blockchain) continue to morph and evol...