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28 MARCH 2017
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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  
     
 
Tuesday, 28 March 2017

Tesco agrees accounts scandal DPA
Retailer will also set up scheme to compensate share buyers Read more ...

 
     

Latest feature
     
 
Rolls-Royce: Finally some bragging rights for the SFO?

The £671m deferred prosecution agreement with the aero engine maker marks a successful end to the Serious Fraud Office’s  biggest ever investigation, argue Kelly Hagedorn and Jessica Veitch of legal firm Jenner & Block.
Read more ...
 
     
 
Don't miss
     
  IN THE LATEST PRINTED EDITION OF FRAUD WATCH
- Explosion of data coming into hands of regulators
- Singapore country report: An influence beyond its size
- Virtual currency rules fast-tracked with AMLD5
- National regulation of virtual currencies
- PSD2: EBA backtracks on strong authentication
- NY sets cyber-rules benchmark
- Ad fraud double previous estimates
- US emerges as leading ML and tax haven
- Bank fines total US$321bn since 2008 crash

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 Latest news 
 
Month's news
 
   Most read  
 
    Features   
 
     
 
News - Bribery and corruptionThursday, 23 March 2017

Acquittal rate jeopardises Finland's anti-foreign bribery efforts
‘Serious concerns’ about court approach Read more ...

article thumbnail News - CybercrimeThursday, 23 March 2017

Banks need their own cyber watchdog
Treasury committee head brands current system ’opaque and headless’ Read more ...

News - InvestigationsWednesday, 22 March 2017

Malaysian tycoon to be charged in US over 1MDB scandal
Whereabouts of financier are currently unknown Read more ...

article thumbnail News - Money launderingTuesday, 21 March 2017

NCA considers Russian ML investigation
UK banks are linked to massive ‘Laundromat’ operation Read more ...

News - CybercrimeMonday, 20 March 2017

US charges Russians for Yahoo cyberattacks
Two of accused work for security service Read more ...

News - Data securityFriday, 17 March 2017

Legacy travel systems put passenger data in danger
Three main booking systems vulnerable to hackers Read more ...

News - InvestigationsFriday, 17 March 2017

Swiss firm pays U$73m for internal control failures
Korean Penalty follows opening of UK investigation Read more ...

News - RegulationThursday, 16 March 2017

Government plans AML watchdog to "guard the guards"
Funding will come from AML supervisor fee

The government is to create a new anti-money laundering watchdog to effectively "guard the guards". Read more ...

News - CybercrimeThursday, 16 March 2017

Russia agencies deny involvement in Yahoo hack
Four men indicted, including two Russian intelligence offices
Four men, including two Russian intelligence officers, have been charged with participating in a hacking operation that has affected half a billion Yahoo Inc. customers.

Russian authorities have denied involvement in the hack, despite mounting evidence.

Read more ...

News - Data securityThursday, 16 March 2017

Concerted effort to pause rise in financial fraud

Take Five Day asks customers to stop and think

Financial Fraud Action UK is running a campaign today to highlight the UK£2m lost each day to fraud. The total lost to financial fraud in 2016 was £768.8 million, an increase on the £755 million lost in 2015.

Read more ...
News - Bribery and corruption
Acquittal rate jeopardises Finland's anti-foreign bribery efforts
Maxine Wernick - Thursday, 23 March 2017

News - Cybercrime
Banks need their own cyber watchdog
Maxine Wernick - Thursday, 23 March 2017

News - Investigations
Malaysian tycoon to be charged in US over 1MDB scandal
Maxine Wernick - Wednesday, 22 March 2017

News - Money laundering
NCA considers Russian ML investigation
Maxine Wernick - Tuesday, 21 March 2017

News - Cybercrime
US charges Russians for Yahoo cyberattacks
Maxine Wernick - Monday, 20 March 2017

News - Data security
Legacy travel systems put passenger data in danger
Maxine Wernick - Friday, 17 March 2017

News - Investigations
Swiss firm pays U$73m for internal control failures
Maxine Wernick - Friday, 17 March 2017

News - Regulation
Government plans AML watchdog to "guard the guards"
Administrator - Thursday, 16 March 2017

News - Cybercrime
Russia agencies deny involvement in Yahoo hack
Administrator - Thursday, 16 March 2017

News - Data security
Concerted effort to pause rise in financial fraud
Administrator - Thursday, 16 March 2017

News - Cybercrime
New York State cyber rules expected to become global benchmark
Maxine Wernick - Wednesday, 15 March 2017

News - Regulation
'Explosion' of data coming into hands of regulators
Maxine Wernick - Tuesday, 14 March 2017

News - Compliance
US states are ‘tax evasion hotspots’
Maxine Wernick - Monday, 13 March 2017

News - Bribery and corruption
South Korean president ousted after corruption scandal
Maxine Wernick - Friday, 10 March 2017

News - Technology
Stolen fingerprints ‘the next fraud challenge’
Maxine Wernick - Thursday, 09 March 2017

News - Research
Ad fraud more than double previous estimates
Maxine Wernick - Wednesday, 08 March 2017

News - Regulation
MEPs want wider access to BO registers
Maxine Wernick - Tuesday, 07 March 2017

News - Money laundering
German laundering law planned for June
Maxine Wernick - Monday, 06 March 2017

News - Data security
Yahoo lawyer resigns after data hack probe
Maxine Wernick - Friday, 03 March 2017

News - Money laundering
Bank fined US$8m for AML failures
Maxine Wernick - Tuesday, 28 February 2017

News - Court cases
Former IMF boss jailed for embezzlement
Maxine Wernick - Friday, 24 February 2017

News - Regulation
Accounts fraud case settled after over a decade
Administrator - Monday, 13 February 2017

News - Regulation
Nigeria bans banks from virtual currency transactions
Administrator - Friday, 27 January 2017

News - Bribery and corruption
Asia Pacific performs poorly on bribery & corruption
Administrator - Monday, 30 January 2017

News - Court cases
Former HBOS execs convicted of fraud, ML and corruption
Administrator - Tuesday, 31 January 2017

News - Cards and Payments
GoCardless hit by burglary
Administrator - Friday, 10 February 2017

News - Money laundering
Bank fined US$8m for AML failures
Maxine Wernick - Tuesday, 28 February 2017

News - Technology
AI fraud prevention tool for banks
Administrator - Friday, 03 February 2017

News - Data security
Yahoo lawyer resigns after data hack probe
Maxine Wernick - Friday, 03 March 2017

News - Research
80% think mobile wallets are secure
Maxine Wernick - Tuesday, 21 February 2017

News - Cybercrime
Customers trust bank security more than banks
Administrator - Thursday, 09 February 2017

News - Court cases
Healthcare services provider to pay US$60m over false charges
Administrator - Thursday, 09 February 2017

News - Court cases
Four found guilty in £160m financing fraud
Administrator - Wednesday, 08 February 2017

News - Regulation
Latest fines
Administrator - Wednesday, 01 February 2017

News - Data security
Legacy travel systems put passenger data in danger
Maxine Wernick - Friday, 17 March 2017

News - Regulation
Trump starts anti-regulation onslaught
Administrator - Friday, 03 February 2017

News - Investigations
Swiss firm pays U$73m for internal control failures
Maxine Wernick - Friday, 17 March 2017

News - Regulation
US banks call for overhaul of 'outdated' AML régime
Maxine Wernick - Friday, 17 February 2017

News - Money laundering
India secures first ML law conviction
Administrator - Thursday, 02 February 2017

News - Money laundering
Dutch target bitcoin ‘mixers’
Administrator - Tuesday, 07 February 2017

article thumbnail Features - ComplianceFriday, 16 December 2016

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 ...

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 ...

 
     
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