International Fraud Awareness Week: A Call to Action for Anti-Fraud Professionals
International Fraud Awareness Week is a pivotal time for UK retail professionals to reflect on the rising threats of fraud and strengthen their organisations’ defences. In an industry where high transaction volumes, digital innovation, and complex supply chains create fertile ground for fraudsters, this week serves as a vital reminder to enhance vigilance and build a […]
FCA issues Metro Bank with hefty fine for transaction monitoring failings
Metro failed to have the right systems and controls to adequately monitor over 60m transactions, with a value of over £51bn, for money laundering risks between June 2016 and December 2020, with the Financial Conduct Authority issuing a £16,675,200 fine as a result. The FCA says Metro automated the monitoring of customer transactions for potential […]
WEBINAR: Unlock your revenue potential – Strategic chargeback management for EMEA payment leaders
Equip yourself with essential tools to safeguard profits from first-party fraud About this Riskified webinarAs chargebacks are projected to reach $165 billion by the end of 2024, ecommerce payments professionals are facing an unprecedented challenge—yet most are leaving 40% or more of disputes uncontested, leading to substantial revenue losses. This webinar will dive into the […]
December is Mobile Month on Fraud Prevention Briefing – Here’s how to get involved!
Each month on Fraud Prevention Briefing we’re shining the spotlight on a different part of the market – and in December we’ll be focussing on Mobile Fraud Prevention. It’s all part of our ‘Recommended’ editorial feature, designed to help industry buyers find the best products and services available today. So, if you specialise in Mobile Fraud Prevention and […]
Why ransomware recovery tools are now a business essential
A report released by tech giant Microsoft found that the number of ransomware attacks has more than doubled over the last 12 months. It found that financially motivated cybercrime has increased in the last year and is to remain a “persistent threat” moving forward. The report also found that the number of online scams has […]
FRAUD PREVENTION: What did 2024 deliver and where are we going next?
This year, the fight against fraud has reached new levels of sophistication in the UK’s retail and banking sectors. With fraud techniques evolving, businesses are investing heavily in advanced prevention solutions to protect customers and reduce financial losses. Here’s a look at the key trends, usage scenarios, technology, costs, and the outlook for fraud prevention, […]
Register now for the Smarter Payments Summit
There’s a complimentary delegate place waiting for you at the Smarter Payments Summit, which takes place in March 2025 – and you can register today! Date and Venue: 10th March 2025 @ Hilton, London Canary Wharf The suppliers attending will be offering a range of products & services in the following categories: Would you be interested in meeting with top suppliers to discuss […]
UK fraud pegged at £570 million in the first half of 2024
Data from UK Finance indicates criminals stole £571.7 million through unauthorised and authorised fraud in the first half of 2024, representing a 1.5 per cent decrease compared to the first half of 2023. Banks prevented £710.9 million of unauthorised fraud through advanced security systems, while 72 per cent of APP fraud started online and 16 […]
CHARGEBACKS MONTH: What can we learn from 2024 to help minimise losses?
Chargeback management has become a critical concern for retail brands. The practice – where customers dispute transactions and seek refunds through their banks – can significantly impact revenue and operational efficiency. As technology advances and fraud becomes more sophisticated, e-commerce and payment professionals need to be aware of the latest trends in solutions to protect […]
500 million smartphone users will be using a Digital Identity Wallet by 2026
At least 500 million smartphone users will be regularly making verifiable claims using a digital identity wallet (DIW), according to new analysis from the boffins at Gartner. Identity verification (IDV) in the form of a user taking a picture of their identity document and a selfie is commonly used today. It establishes confidence in the […]
