With the global outbreak of the coronavirus, businesses are facing heightened fraud risks. Fuelled by the availability of technology, AI, data and a hyper-connected world, first-party and identity frauds leveraging on social engineering techniques are fast escalating. Due to the fast elevation of financial crimes, social engineering frauds are becoming more innovative, while numerous data thefts are powering the growing identity frauds.
The financial fraud continues to increase, for example The Monetary Authority of Singapore (MAS) has banned six individuals “former bankers and insurance agents” for fraud and dishonest conduct as well as reported fraudulent messages and calls request for personal bank account information. The International Criminal Police Organisation (INTERPOL) released a statement stating that financial fraudsters are using the COVID-19 outbreak as an opportunity for scammers to send inaccurate information into the marketplace. In addition to China, Vietnam and Australia caution against fraudulent claims and scams. Accordingly, how can financial institutions build their fraud prevention readiness and manage these growing threats more effectively?
In this RadioFinance session, our top-notch guests Richard Carrick, regional head, financial crime assurance, APAC, Barclays ; Roeland van Zeijst, senior cybersecurity specialist, politie Nederland (Dutch Police) and former digital crime officer, Interpol; and Michelle Weatherhead, operations director, GBG will cover some of the burning issues in financial frauds and global best practices to prevent and manage emerging financial crimes during the COVID-19 pandemic. The discussion offers clear insights on:
Senior Cybersecurity Specialist,
Politie Nederland (Dutch Police) and Former Digital Crime Officer, Interpol
Managing Editor, The Asian Banker