Lucy King MBA’s Post

To improve scam reporting, detection and mitigation, a new recommendations report encourages the industry to consider creating a solution or establishing an independent information exchange framework for a holistic view of scam intelligence from existing sources across payment rails: https://lnkd.in/d3rv86xt #paymentssecurity #securepayments #fincrime #FederalReserve #scams #fraud

A powerful step in the fight against fraud is using a common lexicon. Take the small step and get a giant leap against bad actors

Now LIVE: Fraud & Financial Crime Asia 2024 takes place at Swissôtel The Stamford, Singapore. Regulation Asia’s Bradley Maclean talks to Finovox’s Marc De Beaucorps on the urgent, time-sensitive challenges posed by AI-driven document forgery, where the capabilities of Gen AI to create convincing fraudulent documents represent a new wave of financial crime, as well as explore the implications of this technology for document verification processes and discuss strategic responses to mitigate the associated risks. #FFC2024 #fraudfinancialcrime2024 #singapore #event #fraud #financialcrime #risk #moneylaundering #cybercrime #aml #compliance

Missed last week's webinar? 🏦 Katherine Robinson, GRCP, CFE, CAMS, Donna Turner, Kyle Daddio, and Ian Macallister reacted live to key findings from our upcoming State of Fraud & AML report. 📊 They discussed how banks are tackling fraud with real-time monitoring, strategic investments in preventative controls, evolving scams, and more. Key takeaway: Many institutions start with detective controls and then invest in preventative measures to stay ahead of evolving threats. 👀 Watch the full recording for a sneak peek at the data! https://lnkd.in/eFfFsq-w #Banking #FraudPrevention #CheckFraud #Scams #StateofFraudandAMLReport

So much work still to do in the efforts to prevent fraud and good people being scammed. The most sophisticated of scams can prey on even the most sophisticated people. Link to NY Times article below but does require a paid subscription to the Times. We are as a #banking industry working tirelessly on it but every day it seems another scammer circumvents us. Industry thought leaders such as Ronald Long are pushing hard for additional innovation in this regard; companies such as True Link create cards that can help in a part of this battle. Dr Ira Sobel, CPA is pushing #FinTech solutions on all fronts including fraud prevention. It will take an army to battle their armies. #elderfraud #bank #wealthmanagement #seniors #seniorliving https://lnkd.in/gAHzith3

In the Fintech Policy Forum session, Identity, Fraud & Scams in a Digital World, Jason Kratovil, SentiLink; David Maimon, SentiLink; Randy Mills, CAMS, Worldpay; and Mary Dwyer Pembroke, Discover Financial Services explored the latest trends in identity theft and how the industry is protecting you and the system. #FintechPolicyForum #Fintech #Payments #PaymentsInnovation #FintechNews#ETA #ETAEvents 

BVN has enhanced identity verification and fraud prevention in the financial sector, laying the groundwork for digital financial services. It has become a game-changer for the Nigerian fintech landscape's Know Your Customer (KYC) processes. Without checking, type the full meaning of BVN in the comment section 😃 #BVN #BuildWithAnchor

When shadows creep and fraudsters scheme, Idenfo stands, a silent beam. With KYC and AML in place, No fraudster hides, no secret trace. A crafted lie, a stolen name, Each trick exposed, each crooked game. While fraudsters plot and craft their play, Idenfo keeps them all at bay. Patterns shift, but eyes stay clear, Uncovering trails they hold so dear. From hidden codes to clever guise, Idenfo sees through every lie. So scheme away, but know this well - Idenfo’s here; their plans won’t dwell. With every check and every scan, Fraud finds no home, no place to stand. #Idenfo #fraudcontrol #AML #KYC #notoscam #wekeepyousafe #happyhalloween 🎃

#IdentityTheft and #DataBreaches remain at near-record levels, which has the effect of facilitating downstream #fraud, particularly account takeover (ATO) and #scams in the #digital channel. This report analyzes contemporary trends in the two most prominent forms of fraud in the digital channel: #ATO and authorized payment fraud scams. This Datos Insights report by Trace Fooshée also examines patterns in how #financial institutions (#FIs) are controlling for fraud in the digital channel, as well as the market drivers that influence investment priorities now and over the next one to two years.

🚨 Beware of KYC Scams! 🚨 KYC scams often involve fraudulent attempts to obtain sensitive information, such as personal identification details or banking information, under false pretenses. These scams can lead to identity theft and financial loss. To protect yourself: Verify the Source: Always verify the identity of the person or organization requesting your information. Educate Yourself: Stay informed about common scams and how to recognize them. Report Suspicious Activity: Report any suspicious requests or activities to the authorities immediately. Stay safe and help spread awareness to protect our community against financial fraud. #KYC #UAE #CentralBank #ScamAwareness