Singapore’s multi-currency blockchain project concludes final phase
Project Ubin’s fifth and final phase highlights commercial potential, paving the way towards live adoption.
Minimizing Payment Fraud
Background
One of the biggest sources of fraud in most organisations is payment fraud. Typically the biggest sources of payment fraud are from: cheques particularly in accounts payable and disbursement accounts.…
Read more
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.
Banks and police team up to fight financial crime in Sweden
The SAMLIT effort will be piloted this year, with the goal of launching in 2021.
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
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.
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.
Major European financial infrastructures join forces against cyber threats
Active exchange of information planned between financial infrastructures, Europol and Europe's cybersecurity agency.
ACA makes payment and fraud risk assessment service available
The service's consultants includes specialists in payment fraud, cybersecurity, and technology risk.
Kyriba launches payments network for global CFOs
The network is designed to combat payments fraud, centralise payments, and unlock organisational efficiency.
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.
Mastercard opens global Intelligence and Cyber Centre in Vancouver
The new centre is designed to accelerate innovation in digital and cyber security, AI and IoT.
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.
CTMcast - 9 January: Weekly review
Review of the key items and posts covered in the last six days.
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.