An estimated 26 percent of the global population uses online gambling services to bet or play online casino games like poker and blackjack. In an environment where millions of people are exchanging money online, it’s no surprise that scammers have […]
Financial institutions (FIs) need to understand the various types of financial fraud to safeguard their assets and maintain the trust of clients and stakeholders – particularly as new avenues for fraud and illicit activity continue to unfold. This comprehensive guide […]
In our annual global compliance survey, 60 percent of firms said the number of payment fraud cases had remained the same over the past 12 months. However, this reported continuity reflects fraud rates remaining at historically high levels, with global […]
By 2027, it is estimated that 440 million people will use online dating apps to find love, making them one of the primary catalysts for igniting relationships. While happily ever afters are common on these platforms, so, unfortunately, are scams […]
Fraud detection and prevention are two of the most critical competencies in banking today. The ground reality for banks today is that firms will be dealing with thousands of fraud attempts every single month. And should a criminal succeed, the […]
Over the last decade, the rapid rise of new digitally-based insurtech firms has disrupted an industry long dominated by a select group of incumbent providers.
Ambiguity around insurtech’s anti-money laundering (AML) and fraud obligations – alongside inconsistent enforcement – has added further complexity.
Multiple types of fraud have a nexus with the real estate sector, but most involve a combination of impersonation and the use of false information. With economic volatility and geopolitical uncertainty fuelling a rise in financial crime, real estate fraud […]
Investment fraud has become the most expensive form of fraud in the US, according to a report by law office Carlson Law. The report states that a staggering $3.82 billion was stolen in 2022 – a significant increase from the […]
Business email compromise (BEC) scams are one of the top four major cybercrime threats to US networks, targeting a range of entities from small local businesses to large corporations, and personal transactions. Security vendor Abnormal Security’s H1 2023 threat analysis […]
Real estate fraud can take on a variety of forms, targeting different parts of the property buying or rental process. Title fraud is considered relatively rare compared to other property scams – such as mortgage fraud or business email compromise […]
Real estate is a highly lucrative target for fraudsters, with numerous transactions occurring worldwide on a daily basis. In 2022, US victims of real estate fraud suffered losses of almost $400 million, according to data from the FBI’s Internet Crime […]
If there’s one area of financial crime that best encapsulates the problem today’s compliance leaders face, it’s payment fraud. Volumes are rising – the value of payment fraud is set to soar to more than $40 billion by 2027.
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