Counter-fraud

As digitalization has transformed businesses the ever-present threat of fraud has grown exponentially. However, banks and their users are increasingly realizing that using chat platforms to manage and mitigate fraud offers them immediate and significant gains.

https://www.finextra.com/blogposting/18809/managing-fraud-through-chat-is-better-for-businesses-and-users

The coronavirus crisis has seen a rise in many different types of fraud, and while some authorities are prepared to give leeway on certain risk mitigation activities, businesses need to ensure they remain alert to current and future risks.

https://www.osborneclarke.com/insights/covid-19-leading-rise-fraud-economic-crime-risks/

Individuals need to be aware that they are now more vulnerable to fraud, particularly of the online type, which means that more vigilance is needed.

https://www.weightmans.com/insights/covid-19-the-increased-threat-of-fraud-and-how-to-deal-with-it/

Cloud based payment processor Paymentology has launched its new Instream Fraud Scoring model which aims to improve the identification and blocking of fraudulent activity at point of sale on card usage, by more than 30%.

https://thefintechtimes.com/catching-fraud-at-point-of-sale-through-new-card-scoring-model/

Whistleblowers are unveiling fraud committed by UK employers that have used the furlough scheme to make large sums of money by falsely claiming employees are on furlough.

B-North, the Manchester-based firm building an SME lending bank for the UK, has chosen Leeds based RegTech innovator, TruNarrative, to provide a full suite of customer onboarding and compliance capabilities that will enable B-North to deliver crucial business lending up to 10x faster than large incumbents.

https://www.finextra.com/pressarticle/82523/sme-lender-b-north-chooses-trunarrative-for-customer-onboarding-verification-and-fraud-prevention

Body language expert Mark Bowden spoke virtually to attendees of the 2020 ACFE Fraud Conference Europe about body language tactics for eliciting information and changing a subject's bias.

https://www.fraud-magazine.com/videos.aspx

Jonathan Fisher QC discusses the new faces of fraud arising out of the global health crisis. He distinguishes five types of fraud and provides incisive analysis on their legal consequences.

https://www.youtube.com/watch?v=Rg40IIzWPnM&feature=youtu.be

13 May 2020: the Fraud Advisory Panel is the voice of the counter-fraud profession, committed to tackling fraud and financial crime. Mia Campbell, its Head of Operations, tells ICAEW Insights how fraudsters are exploiting the coronavirus for their own gain.

https://www.icaew.com/insights/viewpoints-on-the-news/2020/may-2020/fraud-a-case-of-when-not-if

Aviva has launched an online scam reporting service in response to the influx of fraudulent activity by those exploiting the coronavirus crisis and people’s vulnerability at this time.

https://www.ftadviser.com/pensions/2020/05/12/aviva-launches-scam-reporting-service/