The Payments Association

JULY 30, 2024

Fraud continues to be a major risk to all firms, regulated and non-regulated, not just through monetary loss but also regulatory and reputational risk. We are excited to announce the expansion of our Financial Crime services to support with Fraud challenges. Download our new Fraud Services brochure to find out more. Read more

Monetary Loss 88

Monetary Loss Financial Crimes Crime Regulations 88

The Fintech Times

FEBRUARY 19, 2025

“True AI reliability comes from continuous validation, comprehensive testing, and maintaining human oversight. Companies need systematic approaches to evaluate AI performance across different market conditions, customer segments, and edge cases. Meaning that you are hardcoding these risks in the fabric of your organisation.

AI 64

AI Risk Monetary Loss Automation 64

The Payments Association

FEBRUARY 10, 2025

The UK government outlines six guiding principles for compliance: proportional procedures, leadership commitment, fraud risk assessment, due diligence, effective communication and training, and continuous monitoring and review. Where vulnerabilities exist Naturally, every organisation has areas of vulnerability.

Crime 88

Crime Risk Assessment Fraud Prevention Due Diligence 88

PYMNTS

DECEMBER 9, 2016

However, it is likely other smaller groups will appear sooner or later to take their place as this is such a lucrative business,” Kroustek continued. And since Avalanche was a platform used to spread malware, we can expect to see cybercriminals migrating to another system to continue to spread their malicious programs.”.

Monetary Loss 90

Monetary Loss Money Laundering FBI Phishing 90

PYMNTS

JANUARY 27, 2020

The Business Email Compromise (BEC) continues to evolve. Separate analysis from Singapore warned that monetary losses associated with BEC scams that specifically instruct targeted employees to send gift card redemption details are on the rise, too.

Business Email Compromise 71

Business Email Compromise Scams Ransomware Real Time Payments 71

FICO

SEPTEMBER 16, 2020

UK banks continued to strengthen and improve their systems, taking the learnings from the 2018 spikes to better control future compromises, and take the next steps forward to further improve Card Not Present (CNP) protection. See the interactive map at www.fico.com/europeanfraud. Card Fraud Across Europe. by Toby Carlin.

Compromise 52

Compromise Monetary Loss Deposit Account Volume 52

FICO

JUNE 21, 2021

In a year that presented fraudsters with new opportunities to exploit consumers, UK financial institutions continued to lead the charge to reduce European card fraud. It achieved the third best reduction in fraud loss of the studied countries, reducing fraud levels by €2M (39 percent). Hungary also made significant progress.

Smishing 52

Smishing Phishing Monetary Loss Compromise 52