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22 JANUARY 2017
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Welcome to

Fraud Watch

Fraud Watch is the premier title reporting on fraud and money laundering in financial services. Providing a daily news service, it publishes contributed articles from industry experts; it reports extensively on the latest compliance requirements, laws and regulatory changes, and gives very wide coverage of the latest court cases, ongoing investigations and fraud threats. It reports on security issues, including data, PCI requirements, systems security, diagnostics and forensics including the cyber threat.

  Main story  
     
 
Friday, 20 January 2017

Massive AML fine for Western Union
Company admits criminal violations in DPA Read more ...

 
     

Latest feature
     
 
2017 Predictions: The year ahead in fraud, compliance & security

The experts tells us about the major risks, threats and challenges for the next 12 months:
- Ransomware, IoT Risks, AML fines, The rise of the SWIFT-heist middlemen, Vigilante hackers, AML5, Nation state hacks

Read more ...
 
     
 
Don't miss
     
  IN THE LATEST PRINTED EDITION OF FRAUD WATCH
- Plea to companies: Report ransomware attacks
- Analysis: Regulation rollback under Trump
- EC amends 4th AML Directive
- SLPs: An ongoing headache for MLROs
- Bank attacks show need for proper disaster planning
- Corporate compliance officers key to avoiding fines
- Law firms face major AML challenges
- Singapore needs compliance staff

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 Latest news 
 
Month's news
 
   Most read  
 
    Features   
 
     
 
article thumbnail News - ResearchThursday, 19 January 2017

Junior employees pose biggest fraud threat
Insiders are main perpetrators of cyber incidents Read more ...

article thumbnail News - Bribery and corruptionTuesday, 17 January 2017

Rolls DPA ‘must not let culprits evade justice’
Bribery and corruption case raises several issues about use of deferred prosecution agreements Read more ...

article thumbnail News - InvestigationsMonday, 16 January 2017

Abandoned Somalia probe cost fraud agency £60,000
Corruption investigation was called off in December Read more ...

News - RegulationThursday, 12 January 2017

NY imposes new AML requirements on banks
State is only one to impose such mandates Read more ...

article thumbnail News - ResearchWednesday, 11 January 2017

The CFO challenge: Fighting fraud in the digital age
Role changes with greater online liabilities Read more ...

News - Court casesTuesday, 10 January 2017

Ten-year Kuwait sentences for card fraud gang
12 members of international group convicted Read more ...

article thumbnail News - Money launderingMonday, 09 January 2017

China starts AML crackdown
Major changes to rules Read more ...

article thumbnail News - CybercrimeFriday, 06 January 2017

“Major bank will fail after cyber-attack” claim
2.5 million attacks reported in last year Read more ...

News - RegulationFriday, 06 January 2017

Regulation remains top concern for FS in 2017
Data driven regulations to be the 'hot button' topic for financial services providers

Read more ...

article thumbnail News - RegulationThursday, 05 January 2017

Trump names new SEC boss

Move heralds expected regulation rollback
Read more ...

News - Research
Junior employees pose biggest fraud threat
Administrator - Thursday, 19 January 2017

News - Bribery and corruption
Rolls DPA ‘must not let culprits evade justice’
Administrator - Tuesday, 17 January 2017

News - Investigations
Abandoned Somalia probe cost fraud agency £60,000
Administrator - Monday, 16 January 2017

News - Regulation
NY imposes new AML requirements on banks
Administrator - Thursday, 12 January 2017

News - Research
The CFO challenge: Fighting fraud in the digital age
Administrator - Wednesday, 11 January 2017

News - Court cases
Ten-year Kuwait sentences for card fraud gang
Administrator - Tuesday, 10 January 2017

News - Money laundering
China starts AML crackdown
Administrator - Monday, 09 January 2017

News - Cybercrime
“Major bank will fail after cyber-attack” claim
Administrator - Friday, 06 January 2017

News - Regulation
Regulation remains top concern for FS in 2017
Administrator - Friday, 06 January 2017

News - Regulation
Trump names new SEC boss
Administrator - Thursday, 05 January 2017

News - Regulation
Whistleblower scheme a “game changer” says SEC
Administrator - Wednesday, 04 January 2017

News - Cybercrime
Asia faces email compromise threat
Administrator - Tuesday, 03 January 2017

News - Cybercrime
India set for mobile fraud explosion
Administrator - Thursday, 15 December 2016

News - Investigations
Five held over online fraud and laundering operation
Administrator - Wednesday, 14 December 2016

News - Regulation
Trump keeps anti-corruption crusader in post
Administrator - Friday, 02 December 2016

News - Compliance
Law firms still facing significant AML challenges
Administrator - Tuesday, 29 November 2016

News - Cards and Payments
Online fraud attempts to increase by 11%
Administrator - Thursday, 01 December 2016

News - Compliance
Tax compliance gets easier for companies
Administrator - Wednesday, 07 December 2016

News - Bribery and corruption
Global consortium set up to fight corruption
Administrator - Friday, 09 December 2016

News - Cybercrime
Hackers reported to be draining ATMs
Administrator - Monday, 28 November 2016

News - Cybercrime
San Francisco's light rail hacked for a ransom
Administrator - Monday, 28 November 2016

News - Investigations
Over 4,500 illicit domain names seized
Administrator - Tuesday, 29 November 2016

News - Court cases
Former utility boss gets 15 years
Administrator - Wednesday, 07 December 2016

News - Money laundering
’Significant gaps’ in US AML/CFT system
Administrator - Tuesday, 13 December 2016

News - Investigations
Tesco ex-boss to escape charges
Administrator - Wednesday, 30 November 2016

News - Court cases
Password re-use is likely reason for Lottery attack
Administrator - Wednesday, 30 November 2016

News - Cybercrime
Iran link to Saudi cyberattacks
Administrator - Friday, 02 December 2016

News - Court cases
Russian construction magnate has assets seized
Administrator - Wednesday, 30 November 2016

News - Compliance
Demand for Singapore compliance staff increasing
Administrator - Thursday, 08 December 2016

News - Regulation
Credit Suisse fined US$16.5m
Administrator - Tuesday, 06 December 2016

News - Data security
GDPR to require 75,000 more data protection staff
Administrator - Monday, 12 December 2016

News - Research
The CFO challenge: Fighting fraud in the digital age
Administrator - Wednesday, 11 January 2017

article thumbnail Features - ComplianceThursday, 15 December 2016

Regulation rollback under Trump
The impact of the new presidency on:

- Dodd-Frank Act
- Sarbanes-Oxley
- Basel IV capital rules
- US extra-territoriality
- Alternative lenders
- Bank stress tests
- Compliance staff levels Read more ...

article thumbnail Features - CybercrimeFriday, 02 December 2016

Global cyberattack report
- Where to report attacks: Country-by country details
- The Regional Picture: Asia-Pacific, European Union reporting requirements
- Mixed messages on business response to cyberattacks
- Tech and customer facing functions often at adds Read more ...

article thumbnail Features - Cards and PaymentsFriday, 11 November 2016

What we need to learn from the Tesco Bank hack
Calls for data sharing like the baddies do

One third of Tesco Bank's customers were hacked last weekend. This much we know. What has still to come out, is how the baddies got in and whether or not there was an insider.

Even without this information, it raises questions that should be addressed by every financial services firm. Read more ...

Features - ComplianceThursday, 03 November 2016

What worries compliance officers?
PSD2, Open Banking API, 4AMLD and the Data Protection Act 2017 are all concerns for FPOs and MLROs. There is also the threat of a five year prison sentence for non-reporting, major cybercrime threats, unwieldy legacy systems, the enemy within, and of course Brexit Read more ...

article thumbnail Features - Financial fraudFriday, 16 September 2016

Public-private initiative to improve asset recovery
The new 2-year pilot scheme by City of London Police to help individuals recover assets lost to fraudsters is a welcome move, says William Christopher of legal firm Kingsley Napley. Read more ...

 
     
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