Government commits £500m to tackling money laundering as financial crime threat evolves
The UK government is to invest more than £500 million in a new crackdown on money laundering and illicit finance, including the recruitment of 500 additional financial crime officers. The investment, spread over three years and funded through the economic crime levy, forms part of the government’s new Anti-Money Laundering and Asset Recovery Strategy. The […]
AI Fraud Prevention: How to reduce false positives without increasing risk
Blocking fraudulent transactions is an obvious measure of fraud-prevention performance. Blocking legitimate customers is another matter. As explored in our earlier AI Fraud Detection Software: What Fraud Teams Should Compare buyer’s guide, effective fraud detection increasingly combines rules, machine learning, contextual intelligence and human expertise to identify suspicious activity. Once those systems are operational, however, fraud teams […]
AI security market set for rapid growth as autonomous agents create new fraud risks
Global spending on securing AI systems is forecast to reach almost $4.8 billion in 2027 as businesses confront emerging vulnerabilities associated with AI applications and autonomous agents, according to Gartner. The analyst predicts the market will grow 68.7% from $2.84 billion in 2026 to $4.78 billion next year, before reaching almost $7.7 billion in 2028. […]
AI Fraud Detection Software: What fraud teams should compare
Fraud prevention has always involved identifying patterns. What has changed is the scale, speed and complexity of the information available to fraud teams, and the ability of artificial intelligence and machine learning to analyse those signals in real time. A digital interaction might generate information about a customer’s device, location, identity, transaction history and behaviour. […]
Returns fraud hotspots revealed as retailers face potential multi-million-pound losses
Retailers are being warned that the drive to process refunds quickly could be increasing their exposure to returns fraud, with new analysis identifying significant variations in suspected fraudulent activity across European markets. Data from ReBound Returns, based on millions of returned items, found Poland recorded the highest average rate of potentially fraudulent returns at 10%, […]