Tag: fraud
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2024 fraud trends
By Andrew Doyle, CEO, AML compliance software, NorthRow There’s no escaping the fact that incidents of fraud are growing, and at an alarming rate. In fact some of the statistics make for pretty grim reading. According to a report from the Association of Certified Fraud Examiners, up to five percent of corporate revenue is currently…
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Defeating Frankenstein’s monster: A tale of the financial industry’s fight against synthetic identity fraud
By Alex Tonello, Chief Revenue Officer, Trustfull What do Mary Shelley and financial fraudsters have in common? They’ve both created fake characters that were made of component parts of other people. Or, to state its proper name in the case of fraudsters: synthetic identities. This type of financial fraud is no work of fiction – unlike…
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The Buy vs. Build Dilemma – how financial services firms can save around two-thirds on risk orchestration fraud and financial crime costs
By Edward Vaughan, senior director at LexisNexis Risk Solutions, looks at the potential costs of buying or building a risk orchestration platform. The benefits of orchestration Risk orchestration is gaining incredible traction in regulated sectors. The technology can help firms to optimise multiple sources of data, and screening and monitoring tools that are used to…
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ERC fraud and how to avoid it
By Brock Blake, CEO of Lendio The Employee Retention Tax Credit (ERC or ERTC) was originally passed as part of the CARES Act, which provided a tax credit to eligible small businesses that retained employees during the height of the Covid-19 pandemic in 2020. The ERC was later expanded twice in 2021 to include eligible…