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On 2 April 2019, the BEIS Committee published a report following its inquiry into the future of audit setting out its recommendations for audit reform. We discussed the BEIS Committee's inquiry into the future of audit in our Q4 2018 edition at page 5.
http://www.mondaq.com/uk/x/830460/Audit/BEIS+Committee+Published+Report+Following+Its+Inquiry+Into+The+Future+Of+Audit
Half year update – July 2019
https://globalinvestigationsreview.com/digital_assets/5ebd9b35-457e-4d41-84cb-22ace5fecc08/GIR_Practitioners_Guide_Newsletter_3.pdf
Financial services, and payment systems in particular, continue to transform at a great pace. Such transformation, and the speed with which money can now move, provides consumers of financial services with more choice and greater convenience.
https://www.finextra.com/blogposting/17536/preventing-payments-fraud-in-a-flash
NICE Named Leader in Real Time Authentication and Fraud Prevention by Top Analyst Firm
The financial services sector is evolving rapidly: increasing and changing customer expectations, a radical shift towards digital channels (mobile), a tsunami of new regulations (PSD2, GDPR, MiFID2, Dodd-Frank act…), new technological evolutions (e.g. IoT), increased competition of FinTech players…
https://www.finextra.com/blogposting/17515/multi-factor-authentication-and-identity-fraud-detection-in-the-financial-services-industry
“Someone else will do it.” This sentiment probably sounds familiar — we use it plenty in our daily lives, perhaps referring to doing the dishes or other mundane tasks. However, this sentiment can have detrimental effects in many aspects of our lives and to an organization’s fraud risk management program. Enter the bystander effect.
https://www.acfe.com/fraud-examiner.aspx?id=4295006589
FW: How would you characterise the level of fraud risk that can arise from third-party relationships in today’s business world?
A recent study carried out by YouGov has shown that 1 in 12 people wouldn’t be able to differentiate a fraudulent £20 being spent on their account from a legitimate one.
Rule-based engines and simple predictive models could identify the majority of fraud attempts in the past, yet they aren’t keeping up with the scale and severity of fraud attempts today
https://www.forbes.com/sites/louiscolumbus/2019/07/09/top-9-ways-artificial-intelligence-prevents-fraud/#30afd34e14b4
A 2019 whitepaper has revealed that 35% of UK businesses surveyed online have no system in place for whistleblowing.
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