Given the increasing variety and sophistication of fraud attempts, banks need a robust Enterprise Fraud Risk Management System to combat the menace. Here’s a helpful ready reckoner on the key must-haves for a superior EFRM system.

Banks must have consistent and reliable data available in real-time to recognize signs of stress at an early stage. An unconventional approach is to view loan monitoring through the lens of financial crime risk management.

Besides non-compliance, counterparty KYC inadequacies in FIs also aggravate the potential of fraud risk. FIs need to look beyond regulatory compliance aspect of counterparty KYC.

Fraudsters are increasingly targeting online lenders and emerging financial services. Here’s a quick primer on the challenging scenario.

Payments fraud is expected to top $22 bn this year. Here’s a quick look at the trends and factors driving the menace.

The unseen impact of fraud is much more than the obvious monetary losses. Take a look at a few key factoids and preventive measures.

Falsifying income and credit history when applying for a mortgage, credit card, savings account or insurance policy continues to be on the rise. While fraudulent applications are expected to continue, here are some signs to spot anomalies.

A quick roundup of trending topics over the year featuring AI, ML, Fintech, Regtech, Blockchain, PSD2, GDPR, contextualization, security and AML compliance.

With a number of banks having already deployed at least some form of AI, it is only a matter of time before the rest join the gradual but global shift towards AI. See how AI is transforming banking operations today and the newer areas AI will eventually cover.

Effective banking enterprise-wide digital transformation requires a sound data management strategy in place first. What should be the key considerations while laying a solid data foundation?

FinCEN rules under the Bank Secrecy Act to strengthen customer due diligence (CDD) requirements for banks, brokers/dealers in securities, mutual funds and futures commission merchants contain explicit CDD requirements + a new requirement to verify the identity of beneficial owners of legal entity customers. What do the new compliance requirements mean for global financial institutions?

Expectations from digital banking have evolved rapidly and are quite different today from what they were just 2 years ago. Success in digital banking now has several