Bloomberg TV Malaysia Video: Dealing with Cyberheists and Financial Crimes
In an interview with Bloomberg TV Malaysia, FICO’s Subhashish Bose talks about the recent cyberheist of the Bangladesh central bank where criminals routed stolen funds to a casino…
In an interview with Bloomberg TV Malaysia, FICO’s Subhashish Bose talks about the recent cyberheist of the Bangladesh central bank where criminals routed stolen funds to a casino in the Philippines as a way to launder money. He explains that rules and policy are important but meaningless if organizations aren't following them or they aren't enforced. Bose also emphasizes that cross-border fraud is a problem because criminals look for the weakest links and try to exploit them. Bose says this makes the FATF (Financial Action Task Force) frameworks and recommendations especially important. Adopting a risk-based approach to certain types of transactions ensures banks are able to better manage and more closely monitor suspect dealings.
Popular Posts
Average U.S. FICO® Score at 716, Indicating Improvement in Consumer Credit Behaviors Despite Pandemic
The FICO Score is a broad-based, independent standard measure of credit risk
Read more
The GSE Data Is Public. Here's What It Shows About Credit Score Modernization.
Independent Milliman analysis of GSE historical data confirms what anyone can now verify directly: FICO® Score 10T is the most predictive score.
Read more
FICO Statement on FHFA and FHA Updates to Credit Score Modernization
FICO supports FHFA’s announcement that the long-anticipated historical data for FICO® Score 10T will be released to the mortgage market.
Read moreTake the next step
Connect with FICO for answers to all your product and solution questions. Interested in becoming a business partner? Contact us to learn more. We look forward to hearing from you.