Counter-fraud

Current anti-fraud schemes don’t go far enough, commentators say

Most employees who blow the whistle on harassment and fraud are victimised despite laws aimed at protecting their rights

From social media scams to fake government texts, phishing links in business emails and false phone calls, fraud has risen sharply since the start of the COVID-19 pandemic. More than 2,500 scams had been reported to investigators in the UK by the start of April alone.

Visa has built a digital tool that uses AI and proprietary data to help US financial institutions predict credit application fraud.

‘Out of crisis comes opportunity’ is usually said with positivity in mind. In the current context, for example, entrepreneurs discovering ways to successfully diversify their business.

Digital transformation has for years seemed like nothing but a buzzword. More recently, however, it has begun yielding the hoped-for results as banks, retailers and other businesses supplement traditional customer service channels with digital services.

FW discusses fraud risk and enforcement in the UK with Alma Angotti at Guidehouse and John Hartley at Shoosmiths LLP.

At the best of times, managing an investigation related to fraud and financial crime, sanctions or other regulatory issues is a complicated undertaking. Typically, such exercises are conducted under high levels of scrutiny, within short time frames, and with challenges regarding access to information.

FW discusses the fraud risk management lessons to be learned in the COVID-19 era with John Hanson at BDO and Ben Kaye-Smith at Novartis.

Dutch FinTech is already playing a key part in delivering Covid-19 payments from HMRC at scale