Money laundering is a problem no bank can solve alone. But working together is tricky, especially when it comes to sharing sensitive customer data.
DORA is about to change how financial companies handle digital risk. If you’re a bank, insurer, investment firm, or a tech provider supporting these institutions, this new EU law will affect how you manage cybersecurity, outages, and third-party IT systems.
The definition of Fraud in the financial industry One of the primary difficulties is that banks are currently prohibited from sharing information with each other. Doing so would constitute a data breach and violate European GDPR laws. Gaining knowledge and becoming smarter through the feedback loop ...
Imagine you’re a compliance officer at PRT Bank, a medium-sized institution with branches in multiple countries. Every day, you and your team review large volumes of transactions, looking for any trace of suspicious activity - whether it’s unusually large cash deposits, suspicious cross-border ...
The threat posed by quantum computers is not just a distant concern; it’s already taking shape. Determined attackers can store encrypted sensitive data now, with the intention of decrypting it later using quantum computing – a tactic known as the “harvest now, decrypt later” attack. This highlights ...
When discussing fraud and its significant impact on the world and our daily lives, the conversation often focuses on fintech, fraud detection and particularly areas like money laundering, tax embezzlement and other criminal activities.
