Cross-Border Fraud and Scams: The Importance of Collaboration
What is currently the biggest practical or regulatory obstacle preventing effective cross-border data-sharing and coordination across banks, law enforcement, and international agencies – and what practical solutions exist? The legal conflict between data protection laws, national data sovereignty and anti-money laundering and terrorist financing obligations is a significant obstacle, and generates ongoing uncertainty about who […]
Stop Scams UK: Cross Sector Fraud Prevention
We often talk about banks, telcos, and social media platforms collaborating, but their business models, speed of execution, and risk appetites are fundamentally different. What does an ‘unlikely alliance’ look like on an operational level when attempting to stop scams before they reach the consumer? Scam journeys cross platforms from telco, to online tech, to […]
Transaction Forensics: Experian & Resistant AI
Matt, why do you think it is becoming increasingly important to understand mule activity as a network rather than looking at individual accounts in isolation? I think the important shift is to stop treating the individual account as the unit of risk. Mule activity is organised across people, accounts and institutions, so that is the […]
Bottomline: Fraud Risk Under AMLA and Diverging Standards
As AMLA takes on its new EU-level role and the Single Rulebook continues to develop, where do you see the biggest areas of uncertainty for firms preparing for the new framework? The biggest uncertainty is not whether scrutiny will increase – it clearly will – but how consistently firms will be able to operationalise the […]
ThreatMark discuss ‘Fraud Risk Evolution’
Fraud is evolving at an unprecedented pace. Looking ahead, what do you believe will be the defining fraud challenge for financial institutions over the next three to five years? Today’s social engineering-based attacks still have one physical bottleneck. A convincing scam call requires people to be recruited, trained, scripted, supervised and to sit in a […]