Cifas

The Cifas National Fraud Database shows cases of facility takeover increased in 2023 by 13% compared to the previous year. This is primarily attributed to a 59% rise in filings from the telecommunications sector alone. As more criminals adapt their methods to impersonate telecoms customers, abuse trust, and reap ill-gotten gains, data sharing has never been more important. Read the insights of Andy Mayo, Head of Fraud at Sky, Mobile UK’s Chief Executive Hamish MacLeod, and Cifas’ Senior Intelligence Analyst, Duncan McLellan, on how we can collectively tackle this growing sector threat. https://lnkd.in/eSWJppUh #Telecoms #TelcoFraud #Fraud #FacilityTakeover #AccountTakeover

Don't miss our final Learning to Prevent webinar next week on 17th July 2024 at 11am. This free webinar provides fundamental information on the new Failure to Prevent Fraud offence and highlights the training solutions that can be offered to ensure that your organisation is ready for its introduction. Secure your place now: https://lnkd.in/ey7zw6Dy

What does the Labour Government mean for Fraud Policy – Cifas Explains. As the dust settles on a hard fought election campaign and new ministerial appointments are made, the fraud community will rightly ask what next? How will fraud policy change, what will the impact be and where will it head under Labour. For too long fraud policy has been an afterthought, something too complicated for the politicians to engage with and too long-term for the political cycle. Fortunately, things have changed. If the 2010s were a lost decade for the counter-fraud community, the 2020s were the rebounder. 2023 saw the publication of the UK’s first ever Fraud Strategy. Now, a little over a year later, Labour has committed to a second, its manifesto promising to introduce “a new expanded fraud strategy to tackle the full range of threats, including online, public sector and serious fraud” and significantly “We will work with technology platforms to stop their platforms being exploited by fraudsters”. While cynics may be tempted to dismiss another strategy as no more than a paper-based exercise with little impact outside Whitehall, this high-level political commitment is something the counter-fraud community should welcome. Noises around the Labour camp have made clear that the technology platforms will be incentivised to play a fuller role in helping not just prevent fraud from happening in the first place but in meeting the cost of harm and loss caused to UK consumers and business. Sources have also emphasised the importance of scale data sharing and enhanced ID verification as key to solving the UK’s fraud problem. Labour policy echoes key elements of the Cifas Fraud Pledges unveiled at Parliament on 15 May. Specifically, we have asked the next government to: 1) Ensure social media and online platforms to join the multi-sector response to fraud 2) Enhance the support available to victims of fraud It is good to see fraud policy front and centre of the new government’s agenda. The proposals, if enacted, will help plug key vulnerabilities in the UK’s fraud defences. Cifas stands ready to work with partners across the technology sector to help turn the tide on fraud and keep UK consumers and business safe. It is now time for the counter-fraud community to come together to work with the new Government to deliver a step change in the UK’s fraud response and help shape the next generation of reform. There is good reason to be optimistic: not least the recent pace of change seen under the last government is unlikely to be dimmed. On the contrary, there is every reason to suggest this pace will not only continue but will go further and faster. For a fuller summary of our thinking on the new Government and fraud see: https://lnkd.in/eZpfJh3T #Labour #GeneralElection #Government #FraudStrategy

What does the Labour Government mean for Fraud Policy – Cifas Explains. As the dust settles on a hard fought election campaign and new ministerial appointments are made, the fraud community will rightly ask what next? How will fraud policy change, what will the impact be and where will it head under Labour. For too long fraud policy has been an afterthought, something too complicated for the politicians to engage with and too long-term for the political cycle. Fortunately, things have changed. If the 2010s were a lost decade for the counter-fraud community, the 2020s were the rebounder. 2023 saw the publication of the UK’s first ever Fraud Strategy. Now, a little over a year later, Labour has committed to a second, its manifesto promising to introduce “a new expanded fraud strategy to tackle the full range of threats, including online, public sector and serious fraud” and significantly “We will work with technology platforms to stop their platforms being exploited by fraudsters”. While cynics may be tempted to dismiss another strategy as no more than a paper-based exercise with little impact outside Whitehall, this high-level political commitment is something the counter-fraud community should welcome. Noises around the Labour camp have made clear that the technology platforms will be incentivised to play a fuller role in helping not just prevent fraud from happening in the first place but in meeting the cost of harm and loss caused to UK consumers and business. Sources have also emphasised the importance of scale data sharing and enhanced ID verification as key to solving the UK’s fraud problem. Labour policy echoes key elements of the Cifas Fraud Pledges unveiled at Parliament on 15 May. Specifically, we have asked the next government to: 1) Ensure social media and online platforms to join the multi-sector response to fraud 2) Enhance the support available to victims of fraud It is good to see fraud policy front and centre of the new government’s agenda. The proposals, if enacted, will help plug key vulnerabilities in the UK’s fraud defences. Cifas stands ready to work with partners across the technology sector to help turn the tide on fraud and keep UK consumers and business safe. It is now time for the counter-fraud community to come together to work with the new Government to deliver a step change in the UK’s fraud response and help shape the next generation of reform. There is good reason to be optimistic: not least the recent pace of change seen under the last government is unlikely to be dimmed. On the contrary, there is every reason to suggest this pace will not only continue but will go further and faster. For a fuller summary of our thinking on the new Government and fraud see: https://lnkd.in/eZpfJh3T #Labour #GeneralElection #Government #FraudStrategy

🎉 We are really looking forward to taking part in FinTech FinCrime Exchange's Virtual Meet Up. It's a great opportunity to discuss these pressing topics and hear from the right people about how we face this challenges. See you there Banking Circle and Monzo Bank. Make sure to register below 👇👇👇 Helena Wood Brian Kinch MBCI, RRP, F.ISRM, MRi #FFE #FinTech #FinCrime #Exchange #FraudPolicy

The exclusive Failure to Prevent Fraud masterclass is back on Monday 15th July. Co-hosted by legal experts from Eversheds Sutherland’s Corporate Crime and Investigations team we'll be reviewing the upcoming ‘Failure to Prevent Fraud’ legislation in depth and what steps you can take to help your organisation prepare. Secure your spot now: https://lnkd.in/e__HH2gi

At the Midlands Fraud Forum Limited Annual Conference at Millennium Point in Birmingham today? Why not pop by our stand and talk to our colleagues Amanda DeZilva and Sam Woolley about how Cifas can support your organisation in the fight against fraud and financial crime!

Four in five (81%) industry professionals think cross-sector identity intelligence sharing and collaboration can be a strategic differentiator in beating fraud, GBG Plc’s Global Fraud Report reveals. We’re delighted to share this guest blog from Laura Barrowcliff, Head of GBG Trust at the global digital identity and fraud solution specialist, who explores the report’s critical findings and underlines why organisations must collaborate, share data, and act now to fight fraud. https://lnkd.in/eHgeCtvd #2024FraudReport #2024GBGFraudReport #IdentityFraud #Fraud #OnboardingIntelligence #FraudPrevention #FraudAwareness

Our recent blog looks at how organisations can tackle employees abusing company time during the Euros and the Olympic Games. Read more: https://lnkd.in/ef3w4ged

Discover what a recent learner said about our Professional Certificate in Fraud Prevention. The course has been specially curated to enable learners to understand and assess the risk of fraud facing their organisation and develop, implement and communicate prevention strategies, including effective fraud prevention campaigns and the harnessing of technology. Want to learn more? Visit: https://lnkd.in/g-kVBr6u