All Fraud articles – Page 8
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Q&AFinCrime Job Focus: Matthew Cox, Managing Director, Fraud, Security & Financial Crime (EMEA), Fico
In our latest reader-submitted Q&A, Matthew Cox discusses accelerating digital transformation and the expected increases in scams
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NewsDeutsche Bank agrees to pay $130m to resolve fraud and corruption case
Deutsche Bank has agreed to pay fines and penalties totalling more than $130m to avoid criminal prosecution in the United States on charges it took part in a bribery scheme to win business in Saudi Arabia.
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BlogA look ahead: the US Anti-Money Laundering Act of 2020
The new Anti-Money Laundering Act in the US has now passed into law. Chris Siddons of LexisNexis Risk Solutions explains why it is set to become the most significant piece of US financial crime legislation for years.
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NewsLandmark US AML and corporate transparency bill enacted into law
A landmark piece of legislation that will establish a register of beneficial owners and strengthen anti-money laundering has been enacted into law.
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AnalysisThe key FinCrime trends and topics to watch out for in 2021
2020 is a year we would all rather forget, with everybody hoping that in 2021 thoughts of social distancing, bubbles, mask-wearing and furloughing will gradually fade from public consciousness.
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NewsAUSTRAC has warned of high risks of money laundering through junket tour operations and has urged casinos to act.
The Australian watchdog has published a risk assessment of the junket tour operations (JTO) sector. Junket tour operators bring wealthy gamblers to casinos by offering promotions and other services, with these ‘high-rollers’ paying the JTO.
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NewsUK Treasury Committee announces fresh inquiry into financial crime
An influential cross-party group of lawmakers in the UK has launched a follow-up enquiry into financial crime following the release of the FinCEN Files last month.
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News
UAE suspends licenses of 200 law firms for breaching AML regulations
Two hundred law firms in the United Arab Emirates (UAE) have had their licenses suspended for a month by the country’s Ministry of Justice for breaching anti-money laundering rules.
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BlogArming for the rise of digital fraud
Digital is a channel of choice for consumers, accelerated by COVID-19. But digital interaction isn’t the only thing that has accelerated – fraud has too. Toby Carlin examines the latest data on how banks are tackling the threat.
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NewsLeicester textile firms ‘involved in money laundering and VAT fraud’
A network of clothing manufacturers in Leicester has been involved in money laundering and VAT fraud, a BBC investigation has found.
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FeatureIdentifying, verifying and authenticating customers – which tech options will you go for?
Know Your Customer rules are tightening but bank customers increasingly want fast sign-up and quick banking. FinCrime Report looks at some of the identification and verification technologies currently being used to prevent fraud and money laundering in an increasingly complex landscape while ensuring user experience remains positive.
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News
Businessman with criminal links hands over £10m to UK investigators following Unexplained Wealth Order first
A UK businessman with links to serious criminals has surrendered property worth nearly £10m after an Unexplained Wealth Order (UWO) was issued to force him to reveal where his money came from.
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BlogNavigating open banking while keeping the fraudsters at bay
In the open banking era customer user experience is key, but how do you also ensure assets are protected from fraudsters? Frans Labuschagne of Entersekt outlines some ideas
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NewsArrests over alleged fraud in two UK government Covid-19 schemes
A series of arrests have been made over the last week involving suspected fraud connected to Covid-19 government schemes supporting UK businesses.
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NewsBritish MPs write to ministers to demand AML answers as FinCEN Files blame game begins
The chair of a UK parliamentary committee has written to government ministers and watchdog heads after the country’s anti-money laundering controls were put under the spotlight by the FinCEN Files.
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BlogCriminals are increasingly targeting different banks’ weaknesses
In a world of rapidly evolving technology, how do financial services firms keep up with the criminals? asks Mike Harris
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AnalysisThe IIoT and the future cyber threat landscape
You can’t help but wonder whether Robert Hannigan can easily get to sleep at night, given the report into cyber-security threats he has just co-authored.
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ArticleOne in five Europeans have experienced identity theft fraud in the past two years
New research has found over half of Europeans have experienced at least one type of fraud in the last two years.
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FeatureBattling the rise of the deepfakes
Deepfake videos are becoming commonplace. So much so that you may have come across one without realising. Today, over 15,000 deepfakes are reportedly lurking online.
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ArticleHackers can bypass Visa card’s contactless limit
Security researchers at Positive Technologies have discovered flaws that could bypass the payment limits on Visa contactless cards.
