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 can share what with who, with which data, when and why. That’s a lot of questions! The practical solutions likely require use of Private Enhancing Technologies (PETs), statutory safe harbours and as much standardisation as possible.
How are cross-border recovery gaps and differing reimbursement approaches impacting how financial institutions respond to scam victims and stolen funds?
These issues force financial firms to operate aggressive preventative payment controls, in place of reactive claims handling. Unfortunately, there’s quite a bit of regulatory arbitrage for transactional organised crime groups, who exploit speed mismatches across regimes and jurisdictions.
As scam centres relocate and adapt following enforcement actions, how can the industry best adapt its approach to maintain effective disruption?
Criminal groups generally continue to decentralise operations and are effectively using AI to scale operations with smarter footprints.
To truly disrupt that capability, we need an upstream infrastructure disruption strategy. We need to look at disrupting telecoms, taking down domains and removing scam stores from app stores. We need to notify victims proactively, stop payments in real time and apply stringent compliance standards to crypto exchanges. We need to use AI against the scammers, and we need more joint operational task forces.
What’s the fraud trend that you think the industry is still underestimating?
Agentic AI-driven frauds.
We know right now that groups are using automated phishing attacks and deepfakes, but scaleable, machine-driven psychological manipulation isn’t too far in the future.
The industry uses controls to ensure that the person making the transaction is the real account owner, which is why APP scams are so successful. Imagine APP scams at even larger scale, with hyper personalisation to manipulate users, coupled with machine learning models that evade controls in real time.
What session are you most intrigued by on the Fraud FS Summit 2026 Agenda, and why?
I’m interested in the afternoon discussion on criminal use of AI and pressure on detection and controls, but to be honest, all the sessions sound good and I’ll be jotting in my notebook all day!
About Aisling Twomey
Aisling has worked in Financial Crime for over a decade. In that time, she has completed KYC for customers in corporate, investment, business and retail banks across multiple products from capital markets and prepaid cards. For the past five years, she has designed controls including customer risk assessments, transaction monitoring rules and CDD processes for some of Britain’s biggest banks and building societies. She has a lot of experience delivering change programmes stemming from regulatory engagement.
Aisling holds two law degrees and before changing career to work in financial crime, she worked in aviation security and for a series of human rights charities. She has delivered human rights education for the Council of Europe in Ireland, Azerbaijan and Hungary. She is currently working on her PhD, which will examine money laundering regulation in the art market.
Pre-Event insights ahead of the Fraud FS Summit
The Fraud FS Summit brings together senior fraud and financial crime professionals for a full day of presentations, panel discussions, interactive roundtables and networking; inclusive of 2 course lunch and drinks reception with canapés. Join the UK’s leading fraud conference in London, view the latest agenda for the Fraud FS Summit here.
