Cifas

Nov 13, 2024 | cifas.org.uk | Claire Rees

My AML career started way back in time (2001 actually), so there are people working in the financial crime-fighting community who weren’t born then. That’s a sobering (and slightly terrifying) thought. I think I’ve aged 10 years writing that first sentence. My first AML role was to set up policies, procedures and day–to-day processes to comply with the forthcoming Proceeds of Crime Act.

Oct 6, 2024 | cifas.org.uk | Mike Mike

7 October 2024 will be landmark day for the banking industry and the wider fraud prevention community. The Payment Systems Regulator’s long-anticipated rule changes – to make reimbursement for fraud losses mandatory – officially go live. In what is arguably the most polarising policy initiative in the history of the UK counter-fraud industry; the implementation of the PSR reforms for Authorised Push Payment (APP) fraud marks a step into the regulatory unknown.

Sep 3, 2024 | cifas.org.uk | Jonathan Evans

We were delighted to welcome a room full of experts from across the fraud community during the launch of our Cifas Fraud Pledges in May 2024 – reforms aimed at placing counter-fraud firmly on the Government agenda. One of those in attendance at our event in Portcullis House was Jonathan Evans, Country Manager at Digidentity. Here’s why he believes digital identity has a vital role to play in relation to our third ‘pledge’ – enhancing support for victims of fraud.

Aug 6, 2024 | cifas.org.uk | Mike Mike

At Cifas we’ve been tracking trends in first party trends over a number of years. Whether a false application for a mortgage, inflated insurance claims or chargeback fraud, our research makes clear that first party fraud is a growing problem and one which is increasingly normalised in society.   In our 2023 annual ‘Fraud Behaviours’ report we surveyed 2,000 people in the UK to find out about their attitudes to first party fraud.

Mar 17, 2024 | cifas.org.uk | Mike Mike

The new Consumer Duty rules for retail financial services, which came into force in July 2023, marked a considerable shift in the regulatory expectations on firms as regards consumer protection. As noted by the Financial Conduct Authority (FCA), who will supervise firms for compliance, the Consumer Duty “sets higher and clearer standards of consumer protection across financial services and requires firms to put their customers’ needs first”.