Fraud Alert is your go-to source to discover the latest fraud and scams in the industry. Alerts come directly from professionals working in the anti-financial crime industry. Discover the trends and stay ahead of the curve with insights from subject-matter experts around the globe. Be a part of the global financial crime detection and prevention exchange.
Cyber slavery is a new crime that emerged in 2022. It involves fraud, human trafficking (HT), modern slavery, cryptocurrencies and money laundering, hereby referred to as the “HT scam trade.” The HT scam trade or cyber slavery involves victims being held captive in scamming compounds...
With innovation in the financial technology (fintech) world in the last decade, peer-to-peer (P2P) payments have gained significant popularity. P2P payments are almost conducted in real time, making them convenient for consumers with their speed. Digital P2P’s origin dates to the early 2000s, with the...
With an emphatic scroll and quick click, a text message was opened, considering it came from someone familiar or at least who sounded “vaguely” familiar. They wanted some quick action from you, and they needed it yesterday, but why are they reaching out via text?...
Of the many uses of artificial intelligence (AI) in financial services, finding and documenting fraud and money laundering crimes stand out. In general, AI’s value proposition lies in automating tasks that are extremely cumbersome for people. Some processes are slow and expensive for people and...
It has never been more important to cultivate relationships with law enforcement (LE) as an anti-money laundering professional. Once suspicious activity is identified, you have 30 days to conclude the investigation and file your suspicious activity report (SAR), which can be extended to 60 days...
Speaking with ACAMS Today about ACAMS’ fraud training program and the newly launched Certified Anti-Fraud Specialist (CAFS) certification is head of anti-financial crime (AFC) products and solutions, Shilpa Arora. CAFS is a modular fraud training program, including fraud risk management programs, fraud investigations and fraud...
William (Will) Voorhees, CAMS, an anti-financial crime (AFC) and anti-money laundering (AML) risk expert who most recently served as head of Enterprise Fraud Management for Truist, spoke with ACAMS Today about all things fraud, touching on the increase in fraud, fraud trends for financial institutions...
Whether it is from war-torn countries or other parts of the globe, Canada is a desired destination for international students. Canada’s reputation for research and development, exceptional university research regimes, as well as a safe and inclusive environment make it a preferred destination for the...
We live in the age of the data economy. The demand for data is increasingly high, and the ability to obtain it has become a lucrative business of its own. Personal data is used by all for many purposes, and it seems that without data,...
In my previous shop, I had the pleasure of working in an organization where fraud and Bank Secrecy Act (BSA) were separate teams but reported up through a chief anti-money laundering (AML) officer. I was assigned to the fraud side of the house, where my...
