Counter-fraud

Fraud is an ever-lasting problem for banks and other financial institutions, which only continues to persist. As we are moving toward ubiquitous digitalization, criminals are discovering new weak spots in financial digital applications.

https://www.finextra.com/blogposting/18659/how-machine-learning-helps-with-combating-financial-fraud

With the coronavirus economic crisis deepening, experts at University of Portsmouth are warning it will lead to the highest levels of fraud and cybercrime ever recorded. There are also concerns that existing preventative measures need to be reviewed urgently because they are unlikely to be sufficient to deal with the heightened threat that comes from a deep recession.

https://www.port.ac.uk/news-events-and-blogs/news/coronavirus-economic-recession-approaching

This video features a discussion between Professor Mark Button, Jim Gee from Crowe LLP and Rebecca Fitzhugh from Sobelco. It concerns the emerging cybercrimes and frauds occurring under the guise of Covid19 in the UK/USA and the impact of the likely coming recession on these crimes. It also features insights on fraud and corruption in major construction projects, which Rebecca has extensive experience of dealing with and which given the likely increase in UK  Government expenditure in this area is another area counter fraud professionals need to be concerned with.

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

The coronavirus pandemic is increasingly being used as "a hook to commit fraud", a senior investigator has warned.

https://www.kentlive.news/news/uk-world-news/coronavirus-fraud-warning-two-arrested-4046787

Even before the coronavirus phenomenon, the unfortunate reality is that there has never been an environment more conducive to fraud than there is today due to the way the internet and technology have established sophisticated new tools for fraudsters to use. The coronavirus pandemic, with the fear and anxiety of the public coupled with a large amount of federal funding available, makes this environment significantly more challenging in the fight against fraud

https://www.acfe.com/fraud-examiner.aspx?id=4295010517&mkt_tok=eyJpIjoiTVRFNFl6VTBaamd4Tm1abSIsInQiOiIyQXFWRFhwMGFVV3FSR3pOZHFJV2R4a1poekhCT0lHNWE0bmFPZUQxTHBlUHhpdFdGWnh5d0FhSEo4TjIrb09EMDRvNitPQnJTbjZBUzVaTjVZU0pnRHRrUXZUT3JaTVlUZEd6bFJ1SjlYSjJFXC91ZytTRVYzU0NVbHhxVnlqcWIifQ%3D%3D#.XpdO5qkkYrE.twitter#.XpdO5qkkYrE.twitter

For criminals, the confusion, distraction and vulnerability stemming from crises spells opportunity. The coronavirus outbreak is no exception. Fraud trends are rapidly emerging as bad actors look to turn a quick profit on the global pandemic.

https://www.forbes.com/sites/jordanmckee/2020/04/10/fraud-an-inevitable-symptom-of-covid-19/#1c9fb6b17582

Are you a new business owner who would like to up their fraud security protection? Perhaps you are a long time business owner who has had issues with fraud in the past? Fraud is an incredibly common crime, and is the most common type of white collar crime.

https://www.fluxmagazine.com/fraud-prevention-tips-business/

Proficient Market unravels its new study titled “Global Fraud Detection and Prevention Market by Product Type (Fraud Analytics, Authentication and Data Synthesis) and by End-Users/Application (Insurance Claims, Electronic Payment, Identity Theft, Payment Frauds, and Money Laundering) Global Market Share, Forecast Data, In-Depth Analysis, and Detailed Overview, and Forecast, 2019 – 2027″. Effective exploratory techniques such as qualitative and quantitative analysis have been used to discover accurate data.

https://www.pharmiweb.com/press-release/2020-04-08/global-fraud-detection-and-prevention-market-is-estimated-to-be-worth-20-644-mn-in-2019-and-is-pro#.XpBR5pq7lrE.twitter

While the coronavirus crisis sweeping the world is unprecedented, the response to it from online and telephone fraudsters has been all too predictable.

https://www.shropshirestar.com/news/crime/2020/04/06/covid-19-fraudsters-who-see-crisis-as-perfect-chance-to-trick-and-steal/

The world has changed dramatically in recent weeks as the Coronavirus impact starts to impact every day life in almost every country across the world. Governments have responded at different rates to the threat, with lockdowns, financial support to various degrees to businesses and consumers, and orders regarding essential vs non-essential goods.

https://tamebay.com/2020/04/forter-report-coronavirus-impact-e-commerce-fraud.html