Tag: Fraud

PwC UK, a global network providing assurance, advisory, and tax services, has announced its partnership with Clearspeed.

Cleafy, a technology firm that specialises in proactive fraud prevention for digital banking, has raised €10m in a recent funding round.

In a shocking revelation, a recent survey has highlighted that 36% of firms in the emerging financial sectors of the UK have fallen prey to either money laundering or financial crime in the last half year. The banking sector has been particularly hard-hit, emerging as the most affected sector.

With financial crime and fraud consistently evolving and changing, there is the regular need for the financial industry to keep pace with it.

The Payment Systems Regulator (PSR) is progressing in its fight against APP fraud by introducing two consultations. 

The UK's PSR has unveiled plans to establish a maximum reimbursement level of £415,000 for victims of APP fraud.

A Ponzi scheme is a fraudulent investment scam that promises high rates of return with little risk to investors.

In Q2 of 2023, the UK saw a rise in fraudulent activity with a loss of £593m, pushing the total stolen cash in the past year to almost £3.5bn.

Resistant AI, a company founded in 2019, employs machine learning techniques to safeguard financial services from fraud,

Unlocking the potential for commercial success, dynamic financial crime risk assessments offer a multitude of benefits for financial institutions. Acuminor, a RegTech company explained that these benefits serve to bolster the financial health, stability, and long-term growth of these institutions.