SWIFT announces KYC Registry and dedicated Financial Crime Compliance unit
Luc Meurant heads new unit
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…
Read moreGrowing number of Know Your Customer support platforms available for banks
Zurich based KYC Exchange Net AG tests new shared platform but will it help corporates?
ACL launches solution to mitigate losses tied to Purchase Card fraud
Enables organisations to immediately identify and remediate suspicious transactions
Payment card industry gets updated security standard with new best practices
New PCI Standard aims to make payment card ‘Business as Usual’
SEPA non-compliance penalties for 1 Feb 2014 are & will be definitely dissuasive
Accuity research shows penalties are severe & many countries have not yet published their charges
Accuity releases Compliance Link (V2.7) to improve anti-money laundering functionality
Consolidated Entity Display & Cyrillic Matching Engine enhances AML and counter terrorism measures
Top 10 Best Practices for Fighting Credit Card Theft and Fraud
3Delta Systems list of how to avoid a cyber breach and card loss
Your messages, fingers and accounts need protecting: ‘NSA spied on SWIFT’, etc…......
Apple’s new fingerprint sensor and 2 million Vodafone accounts hacked PLUS a partial solution
Is your corporate treasury department too lean to implement appropriate and effective compliance con
Deloitte recently published 'Enterprise compliance: The Risk Intelligent approach' which reviews "what is needed for organizational units, and geographies, enabled by people, processes, and
Protect your passwords until there is something better
Eventually, many years henceforth, our digital identity will be protected by three-factor authentication - a knowledge factor ("something the user knows", e.g. password), a possession factor
Fraud up 6% in Europe and France is now the Europe card fraud capital
Overall card fraud grew 6% in 2012. France now has the highest share of card fraud in Europe with 29% of regions losses, even higher than the UK (27%). Russia is growing the fastest - 2012 level is three times 2010
AIG launches first-ever cyber risk management mobile App
A survey of perceptions about cyber risk by AIG found that more senior executives are concerned about cyber threats than other major business risks.
Don’t decline security protection procedures that your bank recommends: It can cost you
Last year, a U.S. district court dismissed BancorpSouth's countersuit of former customer Choice Escrow and Land Title LLC for costs related to a 2010 fraud case. Choice Escrow initially sued the
Can your web-site be broken by fraudsters? Hear how from Britain’s greatest fraudster
The Financial Services Club meets in the London once a month to listen to interesting characters and personalities in the financial services business.
Avoidable errors in Excel spreadsheets caused $6bn losses. Spreadsheet control gaps revealed: are yo
Recent research showed that more than half of financial services groups in the UKJ have poorly applied or no controls for managing business-critical spreadsheets, leaving them open to the problems that led to the $6
Should you be insuring against Cyber Risk?
To protect their department from cyber risks treasurers can deploy cyber insurance. According to Aon Risk Solutions, while less than 10 percent of companies bought cyber insurance coverage in 2008, that number has m
Payment card fraud: growing again in UK and US as fraudsters turn to other methods. Use these fraud
The UKCards Association figures for fraud in the UK in 2012 show that:
ACL Introduces ACL™ Analytics Exchange 4 to analyze what’s happened and monitor fraud and revenue le
ACLhave launched the ACL Analytics Exchangeversion 4. AX which enables adjacent departments, including finance, risk and compliance, to protect the bottom line by identifying control deficiencies such as fraud and r
Cybercrime wave gathers force. Increases need for corporate treasury security and controls
Cybercrime is big business. It is costing consumers $110bn a year and affects almost 1.5m people a day, Symantec, the online security group, reported last year. Bank accounts are being compromised; credit card detai
Fraud levels are really scary: Google looks to ditch password for good as they are insecure and ECB
Google engineers are looking at ways to stop using passwords, which they believe are no longer enough to keep users safe. They are testing new tools that could replace passwords as the primary way of authenticating
e-apostille will change how international business is carried out…. eventually
Notaries provide a service for commercial firms engaged in international trade, and for private individuals. The most common tasks are:
EU payment card fraud down, but it still costs €1.5 billion/year. Continued vigilance needed
Europol has published the 'Situation Report on Payment Card Fraud in the European Union' which offers a detailed examination of the EU's credit and debit card fraud position.
10 fraud blind spots for corporate treasury departments to watch out for in 2013
"Just like legitimate businesses, fraudsters are planning ahead for 2013," says James Gifas, head of RBS Citizens Treasury Solutions.
Risks and benefits of EMV chip standards migration in Canada and implications for the USA
In a session at last week's 2012 Global Payments Strategies Conference, experts discussed the enormous task that U.S. corporates and banks face as they slowly migrate to EMV. Examining the move to EMV in Canada, the