Human – AI partnership against financial crime
It’s now over six months since Brexit. There are opportunities opening up for the UK to take advantage of new-found regulatory freedom. The domestic financial services industry is also seeing rising instances of organised fraud. A recent report from Cifas, the UK’s fraud prevention community, stated that during the first six months of 2021 there was an 11% […]
Building security from the ground up to avoid data breaches and tackle cybercrime
Cybercrime is rapidly growing, and this year, more so than ever, has been hit with hackers committing cyber-attacks. From Microsoft’s Exchange Server, taking Australian TV network off the air and disrupting fuel supplies so badly that drivers were filling plastic bags with gasoline it is not surprising to hear that cybercrime will reach $6 trillion this year. This has costed the […]
UK’s financial watchdog goes real time to catch online criminals
Britain’s financial regulator has to make daily sweeps of the internet. This sweep is to warn about online scams in real time and keep pace with fraudsters who are often based outside the country. Mark Steward, the Financial Conduct Authority’s (FCA) director for enforcement, said that the warnings have become a cornerstone of the watchdog’s […]
US Officials up pressure on firms, foreign adversaries over cyber attacks
U.S. officials ratcheted up pressure on companies and foreign adversaries to fight cybercriminals and they also said that President Joe Biden is considering all options, including a military response, to counter the growing threat. U.S. Commerce Secretary Gina Raimondo, when asked about if military action was being considered said that the Biden administration is looking […]
Cyber-crimes and Island hopping
The contemporary bank heist has intensified to a captive condition over the past year. The novel goal of invaders is now to take over a commercial institution’s digital infrastructure and to control the organization against a bank’s citizens. As the world loosened to an anywhere labor force amongst the pandemic, we observed the invader strategy […]