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.
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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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.
Standard Chartered and Quantexa to tackle financial crime with contextual decision intelligence
by Ben Poole
The partnership provides the bank with a platform to conduct complex financial thematic investigations.
UK businesses report corners cut on supplier vetting and onboarding
by Ben Poole
Companies need to change their approach or face financial penalties and reputational damage.
Asia’s finance professionals identify potential global recession as top business risk
by Ben Poole
The J.P. Morgan survey saw nearly one-third (30%) select global recession as their main worry.
US regulators release joint statement on activities involving digital assets
by Ben Poole
The statement highlights the AML and non-terrorism financing obligations those involved with digital assets have.
SWIFT Customer Security Programme wins cybersecurity award
by Ben Poole
The CSP was launched a couple of years ago to drive industry-wide collaboration in the battle against the cyber threats.
EuroFinance 2019 preview
by Ben Poole
Next week in Copenhagen, EuroFinance 2019 shines a spotlight on 'the resilient treasury'.
EU highlights money laundering and terrorist financing risks in the financial sector
by Ben Poole
Findings show that the monitoring of transactions and suspicious transactions reporting still raise concerns.
NatWest lays claim to first UK bank-issued biometric credit card
by Ben Poole
The biometric fingerprint credit cards enter circulation with 150 customers taking part in the pilot.
Confidence falls as cyber threats and AI add to risk management challenges, survey finds
by Ben Poole
84% of respondents forecast a decline in the future effectiveness of compliance and procurement functions.
Mastercard launches Threat Scan to assess bank fraud exposure
by Ben Poole
The solution is designed to identify authorisation system vulnerabilities for issuers before exploitation and fraud loss can occur.
Finastra and NetGuardians partner on AI-powered financial messaging fraud detection
by Ben Poole
The solution is designed to combat fraudulent transactions before money leaves the bank or corporate organisation.
HSBC deploys advanced financial crime detection systems
by Ben Poole
The system is designed to tackle the money laundering opportunities that criminals see in the complex world of global trade.
Accuity data reveals increased complexity of sanctions compliance and implications for global trade
by Ben Poole
Sanctioned entities have increased 37% over the past five years.
Nets and KPMG partner to launch AI-powered payment fraud prevention solution
by Ben Poole
Nets Fraud Ensemble uses machine learning to reduce fraudulent transactions by up to 40%.
Elavon selects Featurespace to launch fraud prevention capabilities and support PSD2 adoption
by Ben Poole
The fraud network is designed to help merchants to detect fraud and simplify the online checkout experience.
Wells Fargo to pilot internal settlement service using distributed ledger technology
by Ben Poole
Wells Fargo Digital Cash is designed to drive operational efficiencies such as longer operating windows and real-time processing.
Virtual cards for business payments: what’s the hold up?
by Ben Poole
A blog from Adflex looks at why the adoption of virtual cards in the corporate world has been slow.
Entrust Datacard and JPMorgan Chase partner on email authentication
by Ben Poole
The Verified Mark Certificate is designed to help customers differentiate legitimate bank emails from phishing scams and spam.