Financial CrimeRSS

Cyberspace: beyond the rule of law?


Cybersecurity and cyber espionage have been in the headlines the past few years as leaked stories relating to government-sponsored activities have appeared and sabre rattling between aggrieved nations has moved to the public domain. At the same time an increased volume of distributed denial of service attacks (DDoS) on banks and other institutions carried out […]

Financial institutions are “missing out” on big data says TeleWare

Haworth: the magic is in the data

As financial regulation on mobile phone recording grows ever tighter in Europe, a significant proportion of financial institutions still haven’t put in place any technology to handle it. They could be missing out, according to Steve Haworth, chief executive at computer telephony specialist TeleWare.

Lack of EMV means US leads the world in card fraud


The US leads the world in card fraud, at least in part because it has lagged in the adoption of the EMV (Europay, MasterCard and Visa) Chip & PIN standard, and continues to use signatures for verification. One result, said Carolyn Balfany, group head for US product delivery at MasterCard Worldwide, during Money2020 in Las […]

Big brother is watching: Russia’s BCS installs surveillance tools

BCS will use b-next surveillance tools to track trading activity

Russia’s BCS Financial Group has chosen to install market abuse surveillance, insider dealing and compliance tools from specialist firm b-next, as the firm prepares to enter the UK market.

EMV – driving the global eradication of card fraud

Jeremy Gumbley is CTO at CreditCall

Authentication, risk management, transaction integrity and cardholder verification, are the four features that define the EMV standard, specified by EMVCo, the organisation that manages the EMV standards and associated compliance processes. These are designed to protect merchants, acquirers and cardholders from fraudulent transactions. However, closing the loop on fraud altogether will be almost impossible without […]

MPs call on banks to report electronic crime direct to police

UK Parliament

Banks should report all cases of fraud to law enforcement agencies and punishments should be substantially increased, according to a committee of MPs.

Nationwide installs NCR anti-fraud tools on its ATMs

Nationwide will use NCR technology to protect its ATM users against fraud

Nationwide Building Society has brought in a new tool from ATM maker NCR designed to protect its customers against card-skimming, a type of fraud in which criminals steal customer data from ATMs.

Cards top target list for fraudsters


Credit and store cards have returned to the top of the list of fraud targets, with a 28% increase in the first four months of the year – at a time when overall fraud levels fell by 16.5%.

Brazil’s BM&F Bovespa adopts Nasdaq surveillance tools

Brazil's BM&F Bovespa has turned to Nasdaq OMX for tools to safeguard its market

Brazilian exchange BM&F Bovespa has installed a new market surveillance system from Nasdaq OMX, which it says will help ensure the safety of all market participants on the Brazilian market.

Print is not dead – it’s just turned baaaad


As a rule of thumb, the fastest adopters of new technology are pornographers and criminals (two sets that often overlap). So it should come as no surprise that the latest thing to worry security specialists is 3-D printing. You’ll have seen the stories in the papers about how you can create real working guns with […]