Counter-fraud

Warwickshire-headquartered Mercia Technologies has made a £2m investment into a Welsh company W2 Global Data Solutions which helps organisations prevent fraud and money laundering.

https://www.insidermedia.com/insider/national/multimillion-pound-investment-in-fraud-prevention-firm

Created alongside SAS, the IFB’s digital platform, the insurance fraud intelligence hub, lets insurers share real-time information about suspects.

https://www.cbronline.com/news/insurance-fraud-bureau

Name checks are to be undertaken when UK bank customers transfer money from next summer to deter rising bank fraud.

https://www.scottishlegal.com/article/name-checks-to-be-brought-in-for-bank-transfers-to-deter-fraud

Do you know the common ways identities are stolen and how you can best protect yourself? Take another look in the latest animated shareable video from the ACFE.

http://www.fraudweek.com/explainer-videos.aspx

Fraud prevention is often labelled as one of the ‘quick wins’ for AI, and there is no dispute that the technology’s use is driving better detection.

http://www.bobsguide.com/guide/news/2018/Oct/8/evolution-at-the-coalface-the-future-role-of-fraud-operations/

The UK’s largest insurer is serious about fraud – launching a unique fraudulent behaviour identification tool that allows Aviva to screen real-time more than half a million motor insurance quotes daily.

https://www.insurancebusinessmag.com/uk/news/auto-motor/aviva-takes-on-fraud-with-new-tool-112875.aspx

Pindrop’s Voice Intelligence Report 2018 says that between 2016 and 2017 the overall voice channel fraud rate increased by 47%, continuing on the upward trend from last year’s 113% increase. Over the last four years, the fraud rate has climbed by over 350%, with no signs of slowing down.

http://www.lpportal.eu/content/editorial/articles/industry-focus/voice-fraud-increase/

Analysing the behaviour and mind set of fraudsters in correlation with individual business models is a unique ability to fight fraud

https://www.thepaypers.com/thought-leader-insights/looking-through-the-eyes-of-fraudsters-a-switch-in-perspective-on-fraud-management/774792

In the fight against financial crimes, today’s organizations must focus on building compliance programs that are increasingly driven by analytics.

http://www.bobsguide.com/guide/news/2018/Sep/20/from-the-ground-up-building-a-compliance-analytics-program/

The launch comes alongside new data released by the bank that reveals 18-24 year-olds are more than five times more likely to be scam victims than the over-65s. 

https://www.thisismoney.co.uk/money/beatthescammers/article-6179901/Barclays-UK-bank-introduce-call-verification-prevent-impersonation-scamming.html