Driving payments security and efficiency during crisis: Best practices for Finance & Treasury
by Jack Large
Kyriba shows how to minimise fraud whilst maximising efficiency using workflow controls and payment screening
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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Digital fraudsters increase attacks against multiple industries during pandemic
by Jack Large
TransUnion quarterly global fraud analysis also examines the types of fraud targeting businesses and where it originates
Industry roundup: 7 May 2020
by Ben Poole
News in brief featuring Contour, Finovate Capital, the AFP, and more.
Rise in cybercrime as fraudsters exploit COVID-19
by Ben Poole
Microsoft and Temenos are the latest to try and address the spike in financial crime.
COVID-19 cyber and ESG implications for corporates
by Ben Poole
The employee factor looms large for companies in the fallout from the pandemic crisis.
Tackling cyber threats through technology and education
by Ben Poole
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
by Ben Poole
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
by Ben Poole
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
by Ben Poole
The bank says VoiceID registered twice as many attempted fraud hits in 2019.
Barclays research highlights lack of banking industry alignment on key issues.
by Ben Poole
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
by Ben Poole
A report from the firm finds trade misinvoicing is a significant obstacle to sustainable development.
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.
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.
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.
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.
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.
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.
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.
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.
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.