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The European Anti-Fraud Office (OLAF) has helped identify large-scale trafficking of textile waste from Italy to Türkiye. CLICK HERE to read this article and more on OLAF. What is OLAF? The European Union budget finances a wide range of programmes and projects which improve the lives of citizens across the EU and beyond. The improper use of funds …
Financial crime compliance has become one of the most expensive operational commitments in financial services, and one of the least effective. North American financial institutions alone now spend more than $60 billion annually on compliance obligations. Despite that heavy investment, approximately $3.1 trillion in illicit funds circulated through the global financial system in a single …
The European Anti-Fraud Office (OLAF) and the Cyprus Anti-Fraud Coordination Service (AFCOS) are hosting the 2nd Technical Workshop on Digital Anti-Fraud Tools in Lemesos, Cyprus. CLICK HERE to read this article and more on OLAF. What is OLAF? The European Union budget finances a wide range of programmes and projects which improve the lives of …
Most fake candidates do not look fake. They arrive with valid-looking email addresses, phone numbers that pass format checks and employment histories that read as plausible. The problem is not that they look suspicious but that they look exactly like everyone else, which is precisely how they are designed. Fake candidate fraud occurs when individuals …
Most HR tech teams do not begin their fraud-prevention evaluation with a vendor shortlist. They start with a question their existing stack cannot answer: why are fake candidates getting through, and what would actually stop them? That starting point matters because it shapes what you need to evaluate. A fraud prevention buyer at a bank …
Hiring fraud used to be the employer’s problem. That assumption no longer holds. As applicant tracking system (ATS) platforms process millions of candidate profiles on behalf of thousands of employers, fraudsters have shifted focus, and the platforms that run these workflows have become the primary attack surface. Applicant tracking system fraud occurs when malicious actors …
A fraud leader at a Buy Now, Pay Later (BNPL) company spent two years building a program around a well-understood risk profile: synthetic identities at onboarding and installment abuse downstream. The team settled and the metrics looked clean. Then the product team shipped a spending wallet and cross-border payouts. The fraud stack and the coverage …
Law enforcement and anti-fraud intelligence analysts from across the EU gathered in Budapest this week (8-12 June) for hands-on training designed to help them better prevent, detect, analyse and investigate fraud. CLICK HERE to read this article and more on OLAF. What is OLAF? The European Union budget finances a wide range of programmes and …
Bonus and promo abuse accounts for 23% of reported betting and gaming fraud losses. Add the 18% attributed to loyalty program abuse and the combined figure reaches 41% — the single largest fraud category in the sector. Most operators carrying the heaviest losses are also the ones with the healthiest retention KPIs. That’s not a …
Reviewing transactions has always required human judgment, but as payment volumes scale and fraud patterns grow more sophisticated, manual processes alone cannot keep pace. A fraud analyst working a queue cannot simultaneously track behavioral drift across thousands of accounts, correlate signals from onboarding through payout or act on a velocity spike before the window closes. …
A seller gets banned from a peer-to-peer marketplace for shipping counterfeit goods. Within 48 hours, they’ve registered a new account using a different email address, a prepaid debit card and a slight variation on their business name. The reviews are gone, but the operation is intact. They list the same products, resume shipping and start …
The 2026 FIFA World Cup is the largest single-event betting window the industry has ever faced. Thirty-nine days, 104 matches, three host countries, multiple overlapping time zones — and an industry whose fraud defenses are still organized around the wrong threat. The tournament window is open. Operators who spent the past months hardening their front …
Ford Motor Company of Southern Africa (Manufacturing) (Pty) Limited has become aware of an unauthorised and fraudulent appointment of a Non-Executive Director with the Companies and Intellectual Property Commission (CIPC). The listing of Mr. Clinton Ward Myburgh as a Non-Executive Director of the company is entirely false. This appointment is not recognised, authorized or approved …
Identity verification (IDV) has quietly become one of the most contested layers in the digital economy – yet most solutions are still built on outdated assumptions. Global digital identity spending is projected to swell from $44 billion in 2025 to $132 billion by 2031, propelled by the rapid digitalization of finance, gaming and retail. Despite …
Most fraud strategies fail before a fraudster is ever detected, because they evaluate documents, rather than people. Consider the operational reality: a customer signs up for a fintech service. Their government-issued ID clears every document check. Their selfie matches. Their name passes the database lookup. Onboarding completes. What no one detected was that the identity …
Agentic AI is redrawing how fraud operates across entire markets. Over the next year, leaders will contend with agentic attacks powered by AI, instant settlement rails that compress decision windows and a regulatory environment that treats similar risks very differently across adjacent products, such as sportsbooks and prediction markets.?? Taken together, these dynamics will reward …
Most fraud tool evaluations start and end with detection accuracy. That’s a reasonable instinct, but it skips the questions that determine whether a tool still works for your business 12 months from now. Even as per?order fraud rates fell from 3.3% to 3.0% last year, global ecommerce fraud losses are still projected to reach $131 …
A major operation targeting the import of counterfeit goods into the European Union has led to the seizure in Portugal of truck parts worth hundreds of thousands of euros and with a serious risk to road safety. CLICK HERE to read this article and more on OLAF. What is OLAF? The European Union budget finances …
The European Anti-Fraud Office (OLAF), in cooperation with the Cyprus Presidency of the Council of the European Union and AFCOS Cyprus, hosted the 4th annual OLAF Expenditure Conference this week in Ayia Napa, Cyprus. CLICK HERE to read this article and more on OLAF. What is OLAF? The European Union budget finances a wide range …
The 2026 FIFA World Cup will be the biggest single-event betting surge most platforms have ever handled. In the U.S. alone, more than half of Americans (56%) plan to watch the matches, and 43% say they’re at least somewhat likely to place a bet. That volume alone would strain fraud and compliance operations, but the …