Fraud

UK credit and debit card details are among the most common on the dark web. According to a report published by cybersecurity company NordVPN, the country is third only to the United States and India. After studying six underground marketplaces […]

Artificial Intelligence and Machine Learning: Are They Interchangeable? Artificial intelligence (AI) is an umbrella term referring to all the methods by which machines imitate human cognition – for instance, decision-making, data analysis, and the ability to solve problems. One of […]

Ever wished you could get your head around a vendor’s fraud detection solution in just 2 minutes? Wish no more. In this short video, Kieran Thompson, Senior Presales Consultant at ComplyAdvantage, walks you through the key reasons why leading financial […]

When asked which area of their AML compliance program they’re most focused on improving, 40 percent of firms highlighted fraud detection. But with so many vendors on the market offering a range of products, what criteria should firms use to […]

With the value of payment fraud set to soar to more than $40 billion by 2027 and with real-time payment rails and new payment formats transforming the wider ecosystem, firms need to be on top of their game to manage […]

Credit card fraud is one of the most common types of identity fraud. Its prevalence rose significantly during the coronavirus pandemic, with fraudulent credit card applications up 17 percent in the first month of the pandemic alone. And this has […]

Over the past two decades, economic downturns – most notably the Great Recession from 2007-9 – have foreshadowed a rise in financial crime. Against this backdrop, the threat of synthetic identity fraud has become a growing issue, with Forbes projecting […]

On May 16, 2023, UK Finance published its 2022 Annual Fraud Report detailing the extent of fraud in the country’s payments industry. The paper revealed that more than £1.2 billion was stolen by criminals through authorized and unauthorized fraud in […]

The Australian Securities and Investment Commission (ASIC) has announced the imminent introduction of a cross-industry code that will hold banks, telcos, and social media platforms responsible for scam safety and make them liable to reimburse people who lose money through […]

By tailoring screening to their risk-based approach and safely whitelisting false alerts at onboarding, Holvi has cut the time they spend remediating false positives in half.

On May 3, 2023, the UK Government published its new fraud strategy, setting out over 50 measures to reduce fraud and cybercrime by 10 percent by 2025. The Home Office said the strategy would “establish a coordinated response from the […]

On May 3, 2023, the Department of Justice (DOJ) sentenced defendant Leroy Holmes to five years in federal prison for his connection to a counterfeit card encoding scam that resulted in the fraudulent creation of nearly 600 credit cards, debit […]