Credit, Collections & Insolvency News
The Dedicated Card and Payment Crime Unit (DCPCU) targets the organised criminal gangs responsible for fraud. It is made up of officers from the City of London Police and the Metropolitan Police Service as well as banking industry fraud investigators and support staff from UK Finance. Over the past year, the unit has worked in…
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Over £100 million worth of fraud — often targeting vulnerable and elderly customers — has been prevented through the Banking Protocol, a UK-wide scheme that enables bank branch staff to spot potential fraud victims and request an immediate police response. The latest figures from UK Finance reveal that 16,462 calls have been made through the…
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Half of UK workers say they wouldn’t store sensitive personal and commercial information in the cloud because of their concerns over security, according to a new report by Invu. The report says cloud security remains by far the biggest concern for businesses. Data back-up and the recovery of lost data was the second biggest concern,…
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More than 100,000 UK businesses have a corporate structure so complicated it would take over half a day for them to complete anti-fraud checks, according to Experian analysis. Businesses are required to perform Know Your Customer (KYC) checks on their clients to ensure they are not involved in financial crime or fraud. Fraudsters can use…
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The second Commercial Credit & Collections conference saw the themes of Brexit and technology within credit management discussed at an event hosted by Aon and CVR Global at last week’s (23rd January 2020) event held at the Leadenhall Building in London. Over 80 industry professionals from the commercial credit management sector attended the event. The…
Read moreThe value of alleged cybercrime cases reached over £1 billion in UK Courts in 2019, according to research by KPMG – showing fraudsters are becoming more persistent. Sophisticated cyber-crime combined with traditional old school frauds have pushed the value of alleged fraud cases hitting UK Courts in 2019 to over £1 billion. Fraudsters went back…
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Business data, insights, analytics specialist, Graydon has won a prize for Outstanding Fraud Consultants at the inaugural Tackling Economic Crime Awards (TECAs) Graydon’s Business Intelligence Unit is responsible for investigating and detecting potentially fraudulent and suspect companies who have applied for trade credit. The unit was established over 20 years ago and is led by…
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The Commercial Credit & Collections conference has confirmed its speaker agenda for the next event which takes place in January. CVR Global and Aon’s Commercial Credit & Collections conference agenda now includes speakers from Onguard and Cifas whilst three Credit Managers will debate the impact of technology on credit management. The event will open with…
Read moreFraud prevention service, Cifas and business data, insights, analytics and solutions specialist Graydon have announced they have completed data matching analysis to understand synergies between the Graydon cases of suspicious corporate activity and the Cifas national database of known fraud. The results of the matching exercise demonstrated two key points: Fraudsters will target any high-value…
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Dun & Bradstreet and Quantexa have announced a new partnership that aims to empower businesses to make better, context-driven decisions using innovative data and analytics to provide a detailed picture of connected relationships. Global commercial data & analytics firm Dun & Bradstreet, and Quantexa, the contextual decision intelligence software and solutions company, have joined forces…
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A proposal to set up a fund to compensate victims of bank scams has been rejected by payments group Pay.UK. Pay UK says that there has been no industry consensus to finance a central fund. A voluntary code requiring banks to reimburse affected customers is funded to the end of December so from January it…
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New figures from UK Finance show bank scam victims lost £207.5m in the first six months of this year to authorised push payment fraud – more than £1.1m a day. A total of 57,549 cases were recorded by banks – a 69% rise compared with the same period in 2018. Over the same period, £408…
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Nearly two-fifths of European businesses have knowingly fallen victim to a cyberattack in the last five years, with 64% admitting that they may have been hacked unknowingly, according to a new report by RSM, This is compounded by a sense of apathy and acceptance, as 62% of respondents believe hackers are more sophisticated than security…
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