ACA makes payment and fraud risk assessment service available
by Ben Poole
The service's consultants includes specialists in payment fraud, cybersecurity, and technology risk.
Fraud Prevention
Background
Fraud is wrongful deception for financial gain. The global levels of fraud are huge and growing: according to the Association of Certified Fraud Examiners (AFCE) in the USA, a typical business loses 5…
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BELLIN offers new SWIFT CSP audit support
by Ben Poole
200 BELLIN SWIFT Service clients to receive a free-of-charge SWIFT CSP audit.
SWIFT publishes 2019 attestation rate for Customer Security Controls Framework
by Ben Poole
91% of customers, over 99% of SWIFT’s traffic, have attested to their compliance with CSCF v2019.
Half of all reported crime in UK is cyber crime or fraud
by Ben Poole
PIFMA's Financial Crime Conference found cyber crime and fraud figures are growing exponentially each year.
US Treasury announces 2020 National Illicit Finance Strategy
by Ben Poole
Report identifies key illicit finance concerns for the US and establishes a roadmap to modernise the country's AML/CFT regime.
Cyber risk tops concerns for US financial professionals
by Ben Poole
The 2020 AFP Risk Survey also found that organisations are better prepared to assess risk.
EBA consults on revised guidelines on money laundering and terrorist financing risk factors
by Ben Poole
The updated guidelines take into account changes to the EU AML and CTF legal framework.
Mastercard opens global Intelligence and Cyber Centre in Vancouver
by Ben Poole
The new centre is designed to accelerate innovation in digital and cyber security, AI and IoT.
Call for clarification on e-money definition and related fraud reporting requirements
by Ben Poole
Current definitions don't match the market reality for European payment instruments and products.
US and UK lead 2019’s US$8.14bn AML fines
by Ben Poole
Research from Encompass shows that annual AML fines nearly doubled compared to the previous year.
EU R&D project targets international cybersecurity certification standard
by Ben Poole
With €3m funding, CaixaBank is heading up the finance side of the project.
CTMcast - 9 January: Weekly review
by Jack Large
Review of the key items and posts covered in the last six days.
Accenture to acquire Symantec’s cyber security business
by Ben Poole
The acquisition from Broadcom will support Accenture's ability to help companies anticipate, detect and respond to cyber threats.
Moody’s report assesses credit impact of cyberattack on Travelex
by Ben Poole
The attack on its online business, forcing manual operations, is a credit negative.
QIIB selects IBM AI fraud prevention solution
by Ben Poole
The Qatari Islamic bank will use the tool to try to intercept fraudulent activities before they happen.
Our top ten treasury reads of 2019
by Ben Poole
The reading habits of CTMfile visitors in 2019 provide a snapshot into what treasurers are dealing with at the end of the decade.
Integration remains largest hurdle to AI adoption in banking and payments
by Ben Poole
45% of AFP Conference attendees cite integration with existing systems the main AI issue, Bottomline finds.
Criminal investigations into Deutsche Bank employees in connection with ‘Regula’ closed
by Ben Poole
Deutsche Bank sold Regula in March 2018.
AFP survey finds 88% of organisations targeted by cybercrime in past 18 months
by Ben Poole
90% of corporate practitioners report that the emphasis on cybersecurity has increased in the past three years.
SWIFT CSO highlights the importance of intelligence sharing
by Ben Poole
The chief security officer says that intelligence sharing, human judgement and investing in people is key to strong cyber defences.
EastNets survey suggests over 4 in 5 banks have been targeted by cybercriminals on the SWIFT network
by Ben Poole
Only 20% of banks say that internal departments collaborate 'very strongly' to prevent fraud.
FIS integrates IBM fraud detection solution in the US
by Ben Poole
Through the integration, FIS uses AI and machine learning to monitor and detect fraudulent transactions.
Standard Chartered launches mobile tokens for business banking, commercial and institutional clients
by Ben Poole
The tokens will soon be available to over 100,000 corporates.
DBS partners with Exiger to tackle evolving risks of financial crime
by Ben Poole
The bank plans to use an automated AI-powered solution to enhance customer screening processes.