Commercial fraud and financial crime

How can you mitigate the risk associated with first, second and third party fraud threats?

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Do you know how to spot a ‘good’ business?

Being able to authenticate a business prospect, verify its owners and identify commercial fraud or a balance sheet that close to arrears isn’t easy if you only have limited data to go on. Fortunately, Experian can enrich your information so that you can accept new B2B clients with confidence while meeting financial crime regulations.

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The rise of B2B fraud

With businesses having honed their detection and prevention capability to efficiently detect consumer fraud, fraudsters are looking for alternative routes to exploit. 

B2B fraud presents a lucrative opportunity for the unscrupulous, due to the limited B2B fraud prevention solutions available in the UK market to deter this emerging fraud threat.

This paper will explore what B2B first, second and third-party fraud is, the impact to business’ and their customers and what measures can be taken to detect and overcome the risks posed.

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0.7%

of Bounce Back loans a leading UK bank awarded had also been given by another major bank - a breach of the one loan only rule

4,031

suspicious phoenix businesses have been formed since government support commenced in April 2020

Accept new B2B clients with confidence. Let's talk.

Discover how Experian can enrich your information so that you can accept new B2B clients while meeting financial crime regulations.

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Detect, prevent and deter UK B2B Fraud and Money Laundering

The war against the fraudsters ever evolving exploitation of weaknesses in existing processes is becoming progressively greater Therefore, it is imperative that in order to win the battle, companies look to utilise the available tools in market. 

With unprecedented financial support offered by government to small businesses during the pandemic, fraudsters capitalised on an environment which required rapid lending to those eligible and in need. Watch our webinar above where Graham Barrow, Director of the Dark Money files and world-renowned AML expert, shares the key trends around how criminals are exploiting UK business to perpetrate fraud and financial crime.

View our webinars in this series

Transforming financial crime prevention

Across the UK, banks are developing financial crime transformation programmes that strategically monitor their commercial portfolios in new ways. 

There’s a genuine intent to actively manage financial crime risk and combat money laundering by continually watching for data changes and events, rather than running full reviews on a fixed, periodic basis.

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AML & KYC Banking Summit

29th and 30th June 2022 | London

Experian are delighted to be sponsors of this year’s AML & KYC Banking Summit on 29th-30th June. 

During the two-day event we’ll be leading a roundtable discussion exploring the macroeconomic trends we’re seeing in relation to financial crime and the impact of current macroeconomic challenges on increasing FinCrime. We’re also delighted to announce our keynote session “Improving the efficiency of FinCrime compliance” where we’ll unveil our latest capabilities which can help financial institutions use data and automation to optimise KYC checks.

If you're unable to attend the event but would still like to find out more please email us and a member of the team will be happy to help.

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Experian can help you take a new approach to fighting fraudsters. Let’s talk.

If you’d like to talk to us about how we can help you to combat commercial fraud, fill in the form below and one of our specialists will be in touch.

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