A New Dimension in Fighting Fraud: Putting identity at the centre of every decision
A Shifting Fraud Landscape in the UK Fraud is no longer a slow-moving risk. Account takeovers, synthetic identities, and scam networks have become everyday threats. At the same time, customer journeys have grown more complex, making it more challenging for fraud teams to separate trusted customerss from bad actors without adding friction. Traditional tools built […]
UK public open to AI payments as move towards cashless society accelerates
Over half of consumers (62%) in the UK say that they prefer to pay with debit or credit cards, highlighting the continued dominance of traditional card-based transactions. That’s according to research from SumUp, which reveals 18% of consumers find mobile payment options, such as Apple Pay and Google Pay to be the most convenient choice, […]
New guidance published by CMORG’s AI Taskforce
The Cross Market Operational Resilience Group’s (CMORG) and its member firms, in conjunction with City of London Corporation (CoLC), Financial Services Information Sharing and Analysis Center (FS-ISAC), and UK Finance have conducted a baseline review of existing GenAI risk mitigation guidance specific to the financial services sector and developed best practices for GenAI risk management. […]
UK cybersecurity innovation recognised as Global Standard to help counter AI-powered fraud
The Open Worldwide Application Security Project (OWASP) has announced that the Business Logic Attack Definition Framework (BLADE Framework) has become The OWASP BLADE Framework Project in the fight against cyber fraud. The name change reflects the acceptance of the attack framework as an OWASP project and recognition of the framework as an industry standard. The BLADE Framework was […]
AI Agents ‘will increasingly exploit weak authentication’
Account takeover (ATO) remains a persistent attack vector because weak authentication credentials, such as passwords, are gathered by a variety of means including data breaches, phishing, social engineering and malware. That’s according to Jeremy D’Hoinne, VP Analyst at Gartner, who said: “Attackers then leverage bots to automate a barrage of login attempts across a variety […]
40% of AI data breaches caused by cross-border GenAI miuse by 2027
In excess of 40% of AI-related data breaches will be caused by the improper use of generative AI (GenAI) across borders by 2027, according to new research. Analysis by boffins at Gartners indicates the swift adoption of GenAI technologies by end-users has outpaced the development of data governance and security measures, raising concerns about data localisation due […]
AI Opportunities Action Plan: What can we learn from financial services?
The UK is moving to establish itself as a superpower in the world of artificial intelligence, thanks to the recent announcement of Sir Keir Starmer’s AI Opportunities Action Plan. Supported by a number of leading tech firms, the action plan aims to harness AI to deliver business growth and services across a range of sectors more efficiently […]
AI Financial Fraud: How fraudsters are using AI (and how to combat it)
Tackling financial fraud has become more difficult than ever in recent years, thanks to the increasing prevalence of AI (artificial intelligence) in financial fraud. A recent report from Signicat has highlighted the prevalence of AI in the murky world of financial fraud, suggesting that AI now accounts for 42% of all financial fraud attempts – while just […]
AI MONTH: A buyers guide for AI-powered anti-fraud solutions
As fraudsters become increasingly sophisticated, senior anti-fraud professionals in the UK’s e-commerce and banking sectors must leverage advanced technologies to stay ahead. AI-powered solutions offer powerful capabilities for detecting and preventing fraud. Here are key considerations when selecting a provider, based on delegate priorities at the Fraud Prevention Summit… Understanding Your Organisation’s Needs Key Considerations for Supplier Selection […]
AI MONTH: Identifying the key anti-fraud use cases in your organisation
AI is revolutionising the fight against financial fraud, offering sophisticated solutions that can outsmart even the most sophisticated fraudsters. Here are some of the key ways AI is being deployed by delegates at the Fraud Protection Summit… AI is a powerful tool in the fight against financial fraud, offering real-time detection, adaptability, and the ability […]
