Identity and Fraud

Do you need to check your business customers’ bank account ownership?

Posted on Nov 25 2015 by

In a previous blog I discussed the case for checking the ownership of business bank account details when setting up and paying suppliers. But what if the businesses you are paying are not suppliers but beneficiaries? Who does this affect? There are a number of reasons why you might be paying other businesses, particularly if […]

Three reasons why you should check your suppliers’ bank account data

Posted on Nov 19 2015 by

It is now possible to check the ownership of business bank accounts, here are three reasons why you should check the bank account data of your suppliers: You don’t want to become a victim of invoice fraud Invoice fraud, sometimes called procurement fraud, occurs when a fraudster impersonates a supplier and submits an invoice that […]

Elderly home-owners increasingly targeted by identity thieves

Posted on Nov 11 2015 by

Extended families from multi-cultural backgrounds also at higher risk, while two-thirds of all identity theft victims are also men.

3 ways you can make identity checking customer friendly

Posted on Nov 05 2015 by

For both security reasons and to meet your Client Due Diligence obligations you need to carry out identity checking on your customers. Processes can be long-winded you may have to ask your customers to complete certain tasks or provide extra information, something they might find intrusive and a hassle. It doesn’t have to be that […]

5 of the most remarkable instances in the history of fraud

Posted on Sep 25 2015 by

The fight against fraud is an on-going battle, but it is not one faced exclusively by our generation. For as long as currency has existed, so has fraud.

Current account switchers top two million within two years of seven-day service launch

Posted on Sep 16 2015 by

More than two million bank customers have opted to use the seven-day account switching service within the first two years of the service’s launch.

Retail Sales on Mobile Double Those on Tablets… What Does That Mean for Identity Fraud?

Posted on Sep 11 2015 by

June 2015 figures for the retail industry show that m-commerce saw a 57 per cent increase on June 2014. Interestingly, sales on smartphones far outweighed those on tablets, reporting a growth rate between January and June 2015 of over double that of tablet devices [1].

The changing face of online fraud

Posted on Sep 10 2015 by

Across the globe, more and more people are shifting to digital channels rather than traditional channels (such as the branch or store) to shop and manage their finances. This change in consumer behaviour has led to higher online transactions – and with it an increased risk of fraud. This challenges organisations to strike a balance […]

AML Checks and the 4th Directive in the Gaming Industry

Posted on Sep 10 2015 by

With the Fourth Anti Money Laundering (AML) Directive in place as of the 26 June 2015, the gaming community must now look to increase their due diligence for AML checks on bets and pay-outs of €2,000 and over.

What is ‘Friday Fraud’ – and how does it impact law firms and their clients?

Posted on Sep 08 2015 by

Recent press reports have highlighted a problem for lawyers and conveyancers – it’s been dubbed ‘Friday Fraud’. It involves fraudsters using various methods to get the information they need to raid a firm’s accounts or intercept funds due to be paid to a client. It’s called Friday Fraud because they know the best time to […]