Alloy’s Post

Sorry US chums 🇺🇸 😢 , you might have a stronger economy, greater startup investment and Beyoncé but...at 58%, UK-based banks, fintechs, and building societies were more likely to see a decrease in manual reviews thanks to their fraud prevention tools — compared to 48% in the US. What does that mean? If your manual reviews are decreasing because your data is improving, then you’re also more likely to ensure that your clients get the experience you’ve always wanted for them (Shocking, I know 😜 ). Simply put, when your team isn’t bogged down by manual fraud reviews, you have more room to innovate within your organisation. If you haven’t seen it yet, the first edition of Alloy's UK State of Financial Crime Benchmark Report has more fascinating findings like this one. https://lnkd.in/eH83Jryk 

On last week's episode of Money Market, The Bank of Tampa’s Chief Administrative Officer, Thomas Oliver, joined host, Owen LaFave, to talk about critical fraud prevention tactics associated with the ever-prevalent bank fraud that impacts both consumer and commercial clients. If you missed it, check out the full episode: https://bit.ly/4ebFaYY #MoneyMarket #FraudPrevention #FraudAwareness #FraudProtection

✔ Imagine a conference where fraud fighters from banks in #Germany, #Switzerland and #Austria meet. ✔ Imagine a conference where major banks from these countries talk #openly about how they #fight #fraud. ✔ Imagine a conference that is so #practical that you take pages of notes away from it. This is exactly what the #DACH #Fraud #Summit 2024 is. Join us and let's beat fraudsters together!

'Without a central register, fraudsters can take documents from one bank, shop them around to multiple banks and, in return, get multiple financings.' In a Flow magazine article titled 'Fighting trade-related Fraud', Deutsche Bank investigates the concealment types and tactics used by fraudsters. 'Professional fraudsters are increasingly taking advantage of the trade industry’s reliance on document-based processes, using techniques such as fake invoices, fake bills of lading, collateral fraud, and duplicate financing to get the better of banks and their clients. These practices are on the rise, with some of the industry’s largest ever fraud scandals having occurred over the past few years.' Read the article here, free: https://lnkd.in/gf_enySt! #tradefinance #fraudprevention #digitalisation #duplicatefinancing #securefinancing #MonetaGo

In CrossFirst Bank's newest article, we go over the latest fraud attempts that are specifically targeting businesses. Make sure you are taking steps to protect your business.

In CrossFirst Bank's newest article, we go over the latest fraud attempts that are specifically targeting businesses. Make sure you are taking steps to protect your business.

From the Finopotamus Press Room: Eltropy Heats Up Webinar Season: Equipping Credit Unions and Community Banks with Powerful Fraud Prevention Strategies #fintech #creditunions

Scams and Scammers are increasing on an on-going basis and the fight against financial crime continues! Some keytakeaways are: Analyze case studies to gain insights into real-life scam scenarios that involve receiving banks Conduct a thorough examination of the vulnerabilities inherent in the receiving bank processes that scammers exploit.  How receiving banks can protect themselves from money mule accounts. #CFCS #amlcompliance #financialcrimecompliance

Fraud prevention for you and your business is something that should always be top of mind, as tactics are always evolving. We have 5 simple, yet effective, tips to help protect you and your business from fraud. Learn more at https://bit.ly/48XMmUB. #bankatfirst #smb #businessfraud #fraudprevention ---- First Financial Bank. Member FDIC.

Get insight to help protect your bank from various forms of fraud by attending this session with FORVIS’ Bob Sprague. Learn more about the event here.