Dutch banks take aim at money launderers
Transaction Monitoring Netherlands is a collaborative effort that aims to crack down on money laundering and terrorism financing.
Minimizing Fraud Procedures
Background
Corporate treasury departments need a fraud prevention strategy that not only keeps pace, but is one step ahead of the fraudsters. To be truly effective, systems and processes needs to be able to spot…
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Cloud security remains challenged by complexity and shadow IT
New data from IBM pinpoints the top security risks for companies, with tips on how to improve cybersecurity.
Standing up to the cyber criminals
A public-private partnership and the use of biometrics provide examples of cyber security in action.
Driving payments security and efficiency during crisis: Best practices for Finance & Treasury
Kyriba shows how to minimise fraud whilst maximising efficiency using workflow controls and payment screening
Digital fraudsters increase attacks against multiple industries during pandemic
TransUnion quarterly global fraud analysis also examines the types of fraud targeting businesses and where it originates
Industry roundup: 7 May
News in brief featuring Contour, Finovate Capital, the AFP, and more.
Rise in cybercrime as fraudsters exploit COVID-19
Microsoft and Temenos are the latest to try and address the spike in financial crime.
COVID-19 cyber and ESG implications for corporates
The employee factor looms large for companies in the fallout from the pandemic crisis.
Tackling cyber threats through technology and education
IBM and Fernergo partnering on software solutions to financial crime, as Mastercard and Oxford University offer cyber skills programme.
AFP survey finds business email compromise the most prevalent fraud tactic
The 2020 AFP Payments Fraud and Control Survey revealed 81% of organisations were targets of payments fraud in 2019.
Calls for cross-sector cooperation to tackle authorised push payment fraud
UK Finance data shows APP fraud losses rose to £456m in 2019, partly driven by criminals abusing online platforms to scam victims.
HSBC UK’s voice biometrics prevented £400m of attempted fraud
The bank says VoiceID registered twice as many attempted fraud hits in 2019.
Barclays research highlights lack of banking industry alignment on key issues.
More than two-thirds of businesses identify collaborating and partnering with fintechs as the preferred approach for traditional banks
GFI identifies US$8.8 trillion gap in global reported trade
A report from the firm finds trade misinvoicing is a significant obstacle to sustainable development.
ACA makes payment and fraud risk assessment service available
The service's consultants includes specialists in payment fraud, cybersecurity, and technology risk.
SWIFT publishes 2019 attestation rate for Customer Security Controls Framework
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
PIFMA's Financial Crime Conference found cyber crime and fraud figures are growing exponentially each year.
Cyber risk tops concerns for US financial professionals
The 2020 AFP Risk Survey also found that organisations are better prepared to assess risk.
Call for clarification on e-money definition and related fraud reporting requirements
Current definitions don't match the market reality for European payment instruments and products.
EU R&D project targets international cybersecurity certification standard
With €3m funding, CaixaBank is heading up the finance side of the project.
Moody’s report assesses credit impact of cyberattack on Travelex
The attack on its online business, forcing manual operations, is a credit negative.
QIIB selects IBM AI fraud prevention solution
The Qatari Islamic bank will use the tool to try to intercept fraudulent activities before they happen.
Integration remains largest hurdle to AI adoption in banking and payments
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
Deutsche Bank sold Regula in March 2018.