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26 APRIL 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  
     
 
Tuesday, 25 April 2017

Cybersecurity spend not keeping pace with breach costs
Fines and business costs dwarf expenditure levels Read more ...

 
     

Latest feature
     
 
AML requirements: Are the stakes increasing?

Financial controls for AML continue to rise up the agenda for regulators on both sides of the Atlantic. Financial institutions in Europe must soon comply with the EU’s Fourth AML Directive, and new US regulations mean firms are increasingly required to put in place an ongoing review and improvement approach to AML monitoring.

Colin Bristow of SAS examines what the future holds for financial controls.

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 - RegulationMonday, 24 April 2017

US plans replacement for Dodd-Frank
New law would cut power of regulators Read more ...

News - CybercrimeFriday, 21 April 2017

Employees actively by-passing cybersecurity policies
Insiders continue to be biggest threat
First and last two weeks of employment are the critical periods Read more ...

article thumbnail News - Court casesThursday, 20 April 2017

Kingfisher boss arrested in London
Former airline operator and F1 boss faces extradition to India Read more ...

News - RegulationWednesday, 19 April 2017

Coutts fined by Hong Kong regulator
Penalty follows others in Singapore and Switzerland Read more ...

News - InvestigationsTuesday, 18 April 2017

Suspected Russian botnet mastermind is arrested
Global cybercrime network attacked tens of thousands of computers Read more ...

article thumbnail News - Cards and PaymentsThursday, 13 April 2017

Plans for ID verification using official records
Banks and government working together on standard Read more ...

News - CybercrimeWednesday, 12 April 2017

SWIFT launches real-time payment controls
New fraud and cyber-crime prevention service to flag suspicious transactions Read more ...

article thumbnail News - RegulationTuesday, 11 April 2017

China promises crackdown on ‘iron roosters’
Regulator warns companies over dishonest dividend practices Read more ...

News - RegulationMonday, 10 April 2017

Court approves Tesco DPA
Agreement only relates to Tesco Stores Ltd Read more ...

News - Court casesMonday, 10 April 2017

Barclays CEO punished for whistleblower actions
Two UK investigations are opened and US regulator considers probe Read more ...

News - Regulation
US plans replacement for Dodd-Frank
Maxine Wernick - Monday, 24 April 2017

News - Cybercrime
Employees actively by-passing cybersecurity policies
Maxine Wernick - Friday, 21 April 2017

News - Court cases
Kingfisher boss arrested in London
Maxine Wernick - Thursday, 20 April 2017

News - Regulation
Coutts fined by Hong Kong regulator
Maxine Wernick - Wednesday, 19 April 2017

News - Investigations
Suspected Russian botnet mastermind is arrested
Maxine Wernick - Tuesday, 18 April 2017

Events - General
ACFE Global Fraud Conference
Maxine Wernick - Thursday, 13 April 2017

News - Cards and Payments
Plans for ID verification using official records
Maxine Wernick - Thursday, 13 April 2017

News - Cybercrime
SWIFT launches real-time payment controls
Maxine Wernick - Wednesday, 12 April 2017

News - Regulation
China promises crackdown on ‘iron roosters’
Maxine Wernick - Tuesday, 11 April 2017

News - Regulation
Court approves Tesco DPA
Maxine Wernick - Monday, 10 April 2017

News - Court cases
Barclays CEO punished for whistleblower actions
Maxine Wernick - Monday, 10 April 2017

News - Cybercrime
Cybersecurity hampers bank fintech collaborations
Maxine Wernick - Friday, 07 April 2017

News - Court cases
Libor pair are acquitted
Maxine Wernick - Thursday, 06 April 2017

News - Regulation
PSPs ‘increasingly being blocked’ by banks
Maxine Wernick - Wednesday, 05 April 2017

News - Data security
Europe and US banks fall short on email cyber-risk
Maxine Wernick - Wednesday, 05 April 2017

News - Cybercrime
Global regulators demand more red team testing
Maxine Wernick - Tuesday, 04 April 2017

News - Cards and Payments
US fraud increases both online and offline
Maxine Wernick - Monday, 03 April 2017

News - Cards and Payments
CNP drives 2% financial fraud increase
Maxine Wernick - Friday, 31 March 2017

News - Cybercrime
Global data breaches up by 86%
Maxine Wernick - Wednesday, 29 March 2017

News - Investigations
Tesco agrees accounts scandal DPA
Maxine Wernick - Tuesday, 28 March 2017

News - Bribery and corruption
Acquittal rate jeopardises Finland's anti-foreign bribery efforts
Maxine Wernick - Monday, 27 March 2017

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

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

News - Investigations
Malaysian tycoon to be charged in US over 1MDB scandal
Maxine Wernick - Wednesday, 22 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 - Cybercrime
US charges Russians for Yahoo cyberattacks
Maxine Wernick - Monday, 20 March 2017

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

News - Cybercrime
Global data breaches up by 86%
Maxine Wernick - Wednesday, 29 March 2017

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

News - Investigations
Tesco agrees accounts scandal DPA
Maxine Wernick - Tuesday, 28 March 2017

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

News - Cards and Payments
CNP drives 2% financial fraud increase
Maxine Wernick - Friday, 31 March 2017

News - Data security
Europe and US banks fall short on email cyber-risk
Maxine Wernick - Wednesday, 05 April 2017

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

News - Cybercrime
Cybersecurity hampers bank fintech collaborations
Maxine Wernick - Friday, 07 April 2017

News - Cybercrime
SWIFT launches real-time payment controls
Maxine Wernick - Wednesday, 12 April 2017

News - Court cases
Libor pair are acquitted
Maxine Wernick - Thursday, 06 April 2017

News - Regulation
Coutts fined by Hong Kong regulator
Maxine Wernick - Wednesday, 19 April 2017

article thumbnail Features - ComplianceMonday, 23 January 2017

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 ...

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 ...

 
     
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