Fraud

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.

With fraud on the rise, associated losses are estimated to reach over $41 billion by 2027, representing a 25 percent increase since 2020. Our 2023 tech and talent survey echoed this trend, with 62 percent of respondents saying they had […]

Javelin shares insights on the latest identity fraud trends from their recent research study and discusses what financial institutions can do to combat and prevent fraud.

Firms typically focus on improving their fraud prevention and detection measures to mitigate risk and reduce financial losses. But what is fraud prevention, and how does it differ from fraud detection? Are the two functions completely separate? Most importantly, what […]

In conjunction with Internal Revenue Service Criminal Investigation (IRS CI), the US Financial Crimes Enforcement Network (FinCEN) has released a notice asking financial institutions to report signs of workers’ compensation fraud and payroll tax evasion in the construction industry. The […]