Can your web-site be broken by fraudsters? Hear how from Britain’s greatest fraudster
by CTMfile
The Financial Services Club meets in the London once a month to listen to interesting characters and personalities in the financial services business.
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 moreAvoidable errors in Excel spreadsheets caused $6bn losses. Spreadsheet control gaps revealed: are yo
by CTMfile
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?
by CTMfile
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
by CTMfile
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
by CTMfile
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
by CTMfile
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
by CTMfile
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
by CTMfile
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
by CTMfile
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
by CTMfile
"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
by CTMfile
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
New ID verification systems and real-time transaction checking is the future for fraud prevention
by CTMfile
Fraud in payment systems is growing inexorably. Although, fraud as a percentage of the total value of payments processed may be dropping but globally, gross overall fraud is growing. Two recent developments in fraud
Corporate treasury departments at increased risk according to Symantec’s top 5 security and fr
by CTMfile
Symantec, the US-based security software developer, has unveiled five most important security issues they expect to appear in 2013:
Kill the Password: Why a String of Characters Can’t Protect Us Anymore AND what to do about it
by CTMfile
n his excellent article in WIRED (http://www.wired.com/gadgetlab/2012/11/ff-mat-honan-password-hacker/), Mat Honan described how his digital life was deleted by hackers who used his Apple account to wipe every one o
GE Capital Australia and New Zealand installs ACL technology to improve Data Leakage Detection
by CTMfile
Data leakage risk is a significant issue for consumers, companies and governments alike. According to the 2011 Global Cost of Data Breach Study1, costs of data breaches vary depending upon the type of data breach an
ACL launches ACL™ Importer which allows users to access, analyze, and extract data trapped in static
by CTMfile
ACL announced today the launch of ACL™ Importer, an ACL™ Desktop 9.3 add-on that harnesses the proven capabilities of Datawatch Monarch™ from Datawatch, a leading provider of information optimization software. ACL I
Token verification will be everywhere, e.g. Standard Chartered Singapore embeds security tokens in c
by CTMfile
Standard Chartered Bank's Singapore unit has unveiled a payment card featuring an embedded security token for online transactions to comply with the Association of Banks in Singapore plans to start issuing on-line t
AFP annual payments and fraud control survey showed that in 2011 two-thirds of organizations experie
by CTMfile
Although two-thirds of companies experienced attempted or actual payments' fraud in 2011, most organisations did not incur any financial loss due to such fraud.
Take charge of Know Your Customer (KYC) data management, cut costs AND have happier employees
by CTMfile
Complying with KYC programmes is going to get more and more arduous for corporates. Banks are just going to have be much more rigorous in their Anti-Money Laundering programmes, e.g. HSBC's New York office.
Visa to launch Visa Merchant Data Secure cardholder data encryption service
by CTMfile
Visa is to launch a new service in 2013 dubbed Visa Merchant Data Secure in a bid to assist acquirers and their merchants protect payment card data. The brand new service will be available to acquirers and their mer
E-crime costs UK retailers £205m a year with personal identification-related frauds most-expensive
by CTMfile
The British Retail Consortium (BRC) estimate that the total cost of 'e-crime' to retailers in 2011-12 was at least £205.4 million.
Guardian Analytics launches behaviour-based fraud prevention service for ACH transactions
by CTMfile
Guardian Analytics, a US behavioural analytics fraud prevention software developer, have added a new ACH module to FraudMAP.
European Commission launches tool to combat VAT fraud
by CTMfile
A proposal for a Quick Reaction Mechanism (QRM), that would enable Member States to respond more swiftly and efficiently to VAT fraud, was adopted by the Commission today.
Use biometric debit cards to distribute payroll or benefits and minimise fraud
by CTMfile
Since March, the South African Social Security Agency (Sassa) has worked with Net1 UEPS Technologies and Grindrod Bank to distribute more than 2.5 million MasterCard cards, which use biometrics to help fight fraud,