THE FRAUD ULTIMATUM – April 04, 2017


Last week saw the formal launch of our new report, The Fraud Ultimatum. Produced in partnership with FT Remark, it features research undertaken with heads of fraud and financial crime within UK financial institutions, plus in-depth interviews with key figures involved in fighting this growing issue.




The report explores the impact of fraud, the challenges associated with keeping up-to-date with the latest scams and techniques, and the best ways for us to collectively move forward. Key findings include:

  • 60% of respondents think that CEO fraud has the biggest impact on their customers;
  • Only 10% estimate they recover and return to the victim more than half of the assets stolen by payment fraud;
  • 80% believe that a significant increase in industry collaboration is required in order to better detect and combat mule accounts (i.e. accounts used – sometimes unwittingly – to move illicit funds through the banking system).

Guests at our launch event included senior decision-makers from UK Financial Institutions, payments schemes, law enforcement and other industry stakeholders, together with colleagues from VocaLink and Accura.




Held at the Shangri-La Hotel at The Shard, it included a panel discussion – moderated by Joy Macknight, Deputy Editor at The Banker – featuring some of the industry figures interviewed for The Fraud Ultimatum:

  • Jim Winters, Director of Financial Crime, Fraud and Underwriting, TSB;
  • Katy Worobec, Director, Financial Fraud Action UK;
  • Commander Christopher Greany, National Coordinator for Economic Crime, City of London Police; and Lead, Identity Crime, Cyber Protect and Counterfeit Currency, National Police Chief’s Council NPCC;
  • Jim Wadsworth, Managing Director, Accura.

Many thanks to everyone who participated in the report; they represent some of the most senior and influential figures today in the fight against crime, and their insights are incredibly interesting.


Source link