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Tag Archives: fraud

Chinese Hammer over Glaxo Rattles Western firms

GlaxoSmithKline’s China operations – under investigation by state officials who accuse the UK pharmaceutical giant of breaking Chinese laws – could spell trouble for other foreign businesses operating there… GSK’s China arm may have to pay fines and give up profits totaling billions of renminbi if state allegations of mass graft by its executives are proven. Exacerbating the matter, a ... Read More »

Country Risk Climate: ‘Nearly three quarters of European firms affected by fraud’

The number of companies affected by fraudulent activity has jumped year-on-year to 71 per cent, according to over 900 senior executives polled globally in the latest Kroll Global Fraud Report. This is sharply up from their previous year’s findings, which indicated 63 per cent of European companies were affected by fraud. The new 2013 report further noted an increase in ... Read More »

FICO Draws Attention to Growing Problem of Enterprise Fraud

FICO (NYSE:FICO) alerted chiefs of leading Asian banks to the growing threat of enterprise fraud at its annual Fraud Forum in Manila this month.  FICO urged the bankers to adopt the latest operational and analytic techniques to fight fraud across such emerging threat vectors as demand deposit accounts, mobile channels, application fraud and merchant fraud, as the region shifts to ... Read More »

Experian Strengthens Global Identity Verification with New International Data Sources

Experian® UK announced that it has extended its international coverage for identity verification, adding comprehensive and reliable customer data from Denmark and the Netherlands to its global ID verification platform, Prove-ID. Danish CPR information (personal tax numbers) has been added to the Prove-ID platform as well as name, address and DOB validation for 100 per cent of the population. Data ... Read More »

UK Bankers Raise the Threat Level for Cyber Security

“Cyber crime” poses a major threat to the stability of UK banks. That’s one of the findings in last Monday’s Systemic Risk Survey from the Bank of England.  It’s not the top-most concern — that post is still held by the risk of an economic downturn, followed by sovereign risk.  But nearly a quarter of risk managers put operational risk as a ... Read More »

Identity Theft Soared 13% in 2011 in the USA

Identity theft has been the top consumer complaint to the Federal Trade Commission for 12 years in a row and it has soared 13% in 2011.  In a recent article in the Investor’s Business Daily the author outlines some crucial steps to guard against becoming an ID Theft victim.  To read the full story click on the link below. Source:  ... Read More »

10,000 Identity Fraud Rings Uncovered in the USA

Security company ID Analytics has uncovered 10,000 identity fraud rings in the U.S.  The company found the rings after studying 1.7 billion credit card and cell phone account applications and finding similar names, addresses and email addresses. ID Analytics provides the engine behind the LifeLock data protection service for consumers and was recently bought by LifeLock. The surprising aspect of ... Read More »

Cyber Security Awareness: Where Should Awareness Start?

Start with grasping the significance:  Most people know the terms — malware, spam, virus, trojan, denial of service, phishing, etc. and so may be deluded into thinking they know how these scams work.  In fact,  the techniques used in cybercrime represent levels of sophistication far beyond the grasp of most people and too many businesses. So how is cyber security ... Read More »