The market for cyber insurance continues to gain momentum. A 2019 Allianz survey of risk management experts across 86 countries ranked cyber incidents as the biggest single point of risk for an organization, thus highlighting the need for an effective insurance policy to transfer risk from potentially damaging effects of a cyber-attack.  It seems daily, a new hig…

By now, you probably don’t give a second thought to unlocking your smartphone with biometrics such as a fingerprint or facial scan — even though the latter wowed the world when it debuted in 2017. As consumers, most of us still consider facial recognition the current state of the art for authentication. But soon your voice and the rest of your fingers will be involved…

Europe and the USA are the two regions of the world hardest hit by financial crime compliance costs. With the projected total cost of financial crime compliance across the global finance sector estimated to be $180.9 billion, banks need a cost-effective solution to be both vigilant and remain at the forefront in the fight against money laundering and terrorist financi…

 The explosive supply chain disruption that wreaked havoc in the early weeks of the pandemic has settled down to a gentle roar: companies now are looking at how to turn their short-term coping strategies into long-term, proactive resilience. Many organizations along the supply chain are looking to expand their sourcing options —while doing so can reduce business…

Electronic payments have paved the way for new and old authorised push payment (APP) scams to hit the UK market, with a 40% rise in 2019; 56% of Europeans surveyed experienced at least one type of fraud/scam in 2018/2019. Fraud scams are a concern for every fraud manager. In my last post, I discussed three best practices for fighting scams. Now let’s look at how an…

As my colleague TJ Horan says in his post, the worlds of fraud and compliance are moving closer together. A critical meeting point for these disciplines is the identity proofing of customers, particularly using digital channels. The current COVID-19 health crisis makes digital interactions obligatory for many activities, and this accelerates the pace of d…

As a result of COVID-19, the use of contactless payments is expected to rise 10–15% in the U.S. according to  Mercator Advisory Group Analyst Peter Reville.  This is an estimate he shared in a recent American Banker article. And we’re continuing to see increases of its usage worldwide.  With this uptick in usage leaving many wondering just how secure th…