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ComplyAdvantage issues ‘2020 Global Compliance Report’ for finance market

ComplyAdvantage – the specialist regtech company active in the compliance industry through data science and machine learning in a bid to neutralise the risk of financial crimes – has just released its ‘2020 Global Compliance Report’. From regtech innovation through to...
Posted On 29 Jan 2020
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HSBC GTRF introduces “industry-leading” financial crime detection systems

HSBC’s Global Trade and Receivables Finance (GTRF) business has deployed an industry-leading anti-money laundering (AML) system and an automated sanctions checking system as part of its ongoing efforts to improve financial crime detection. In what’s an industry first,...
Posted On 26 Sep 2019
, By
Mark Courtney
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Mark Courtney joins fraud prevention service Cifas in chief product officer’s role

Cifas, the UK’s leading fraud prevention service, has appointed Mark Courtney as chief product officer. Courtney boasts a wealth of expertise in fraud, identity verification and identity assurance having worked globally across multiple sectors in the space. In his role at Cifas,...
Posted On 04 Sep 2019
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“Average cost of insurance fraud now tops £12,000 mark” reports ABI

The lengths insurance cheats will go to try to con their insurer are laid bare as the Association of British Insurers (ABI) publishes its annual detected fraud figures. At 460,000, the total number of fraudulent claims and applications detected in 2018 rose by 3% on the previous...
Posted On 03 Sep 2019
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Information Commissioner’s Office selects first ten participants for data protection Sandbox

The use of biometrics to speed up airport passenger journeys, innovations in crime prevention and technological advances in the health sector are among the first projects selected to take part in the Information Commissioner’s Office’s (ICO) Sandbox. Other products...
Posted On 30 Jul 2019
, By
Skye McGregor
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‘Tools of the Trade’: Hints and Tips for Working in Risk Management

What’s it really like to work in the field of risk management? In conjunction with the Institute of Risk Management, Risk Xtra continues its new series of articles running under the banner ‘Tools of the Trade’ in which we ask practising professionals to offer their handy hints...
Posted On 19 Jul 2019
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NCA secures Unexplained Wealth Orders for prime London property worth “tens of millions”

Three Unexplained Wealth Orders (UWOs) have been secured as part of a National Crime Agency (NCA) investigation into London property linked to a politically exposed individual believed to be involved in serious crime. The UWOs, which were obtained at the High Court last week, are...
Posted On 29 May 2019
, By
Syedur Rahman
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Are Large Fines for Banks’ Wrongdoings Really Effective?

The Financial Conduct Authority (FCA) has recently fined Standard Chartered Bank (Standard Chartered) the sum of £102,163,200 for Anti-Money Laundering (AML) breaches in two higher risk areas of its business. This is the second largest financial penalty ever imposed by the FCA...
Posted On 02 May 2019
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Mobile phone detection kit introduced in UK’s prisons by Ministry of Justice

Specialist mobile detection technology is being used to detect and seize illegal phones used by prisoners, Justice Secretary David Gauke has revealed. The new technology is the latest weapon in the fight against phone smuggling which can lead to drug-dealing and violence behind...
Posted On 25 Apr 2019
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Cifas members report 27% rise in false insurance claims across past 12 months

Cifas, the UK’s fraud prevention service, has released new figures showing a marked increase in the number of individuals committing insurance fraud with false claims. Between 2017 and 2018, there has been a nationwide increase of 27% in fraudulent insurance claims. The new...
Posted On 19 Mar 2019
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