Fraud & Security

11 Feb 20 @ 19:49

Technology and data advances will enable banks to provide customers with a hyper-personalised largely automated service within the next decade, replacing the traditional retail products-based approach. But the extent of... read more

30 Jan 20 @ 16:35

Two years ago, opportunity for the FinTech community was abound with the arrival of Open Banking. And while the initial uptake was slow to materialise, we are now finally realising... read more

29 Jan 20 @ 17:42

Fenergo released its findings on financial institution fines which shows that in December 2019 global penalties totalled $36 billion for non-compliance with Anti-Money Laundering (AML), Know your Customer (KYC) and sanctions... read more

29 Jan 20 @ 17:15

In a fascinating report, 93% of total mobile transactions in 20 countries were blocked as fraudulent in 2019 according to a report on the state of malware and mobile ad... read more

21 Jan 20 @ 14:29

Banks from across nine EU countries have endorsed a note seeking clarification on the definition of e-money transactions and the related fraud reporting requirements issued by the European Banking Authority... read more

17 Jan 20 @ 09:09

Equifax’s failure to patch a known web application security flaw—that later proved to be the root cause of the its massive data breach in 2017—is $1.38 billion. Equifax has agreed... read more

14 Jan 20 @ 13:33

The global smart card market is expected to exceed $65 billion by 2025. The rise in privacy and data security concerns in financial transactions will drive the industry growth over... read more

13 Jan 20 @ 17:58

Since 2015, annual AML (Anti Money Laundering) penalty figures have been steadily rising each year. Multi-million dollar fines have been commonplace for a while, but we are now seeing more... read more

10 Jan 20 @ 17:19

Firms need to take action now as new Fifth Money Laundering Directive rules aimed at tackling money-laundering came into force today (Friday 10 January). These place increased importance on the... read more

09 Jan 20 @ 20:43

The cyber attack on foreign exchange provider Travelex demonstrates the growing threat of ransomware and is a warning that financial services firms need to step up their security, according to... read more

08 Jan 20 @ 14:12

JPMorgan has become the first major bank to crack down on FinTech apps using customer passwords to access their bank accounts, forcing tougher security standards via token after Jamie Dimon... read more

08 Jan 20 @ 13:31

In a sensible setback, the Australian Competition & Consumer Commission (ACCC) has delayed the roll out of  Open Banking reforms in Australia by six months, because of the consumer regulator’s... read more