Sandy Lavorel reveals how netguardians has developed a way for banks to share information on fraud risk that significantly improves detection rates for fraud and identifies accounts used for money laundering. In a breakthrough in the fight against financial crime, the Swiss fintech has developed a way for banks to share information on fraud risk […]
Meet your financial crime fighter; Andrea Sagaseta. Andrea is the team leader for professional services at NetGuardians in the Cloud Services department. Her job entails liaising with the cloud and SaaS (software as a service) partners as well as with the in-house team that is developing NetGuardians’ SaaS offering. It’s a job that demands a […]
NetGuardians’ solution can spot accounts used for both domestic and international money laundering in real time, saving banks time and money while protecting their customers and their own reputations, writes Sandy Lavorel Last year, a report by Lloyds Bank revealed that around half of all money laundered in the UK was put through an account […]
By constantly serving our algorithms with information about their performance, we are able to hone them so they remain effective in the ever-evolving financial crime landscape. NetGuardians is better at preventing financial crime than other fraud fighters because our software constantly learns from what it does. Its outputs – alerts grading the degree of risk […]
NetGuardians’ latest online panel discussion on fraud and financial crime served up some tasty morsels for financial institutions looking to better protect themselves from fraud and identify money-laundering accounts. To beat the fraudsters and money launderers, banks need more co-operation, education, automation, industrialization… and to think and behave more like ice-cream makers, according to the […]
As fraud losses continue to rise in Asia, behavioral biometrics presents an innovative addition to fraud prevention strategies, however it cannot be solely relied upon for complete coverage, writes Thomas Heegaard and Daniel Zhou. In Singapore alone, the top 10 scams cost banksUSD227.8 millionin the first half of 2022, up 60 percent year-on-year. In the […]
Fraud is a growing problem in the banking industry, with an estimated five percent of corporate revenue lost to fraud every year. This translates to a staggering $4.7 trillion globally, and the situation is likely to worsen in 2023 due to the current economic crisis. As oil and food prices and interest rates continue to […]
The public is being tricked into sending more and more money to fraudsters. At NetGuardians, we saw a 500 percent rise in authorized push payment (APP) fraud in Switzerland in the first half of this year compared with the first half of 2021, with US$25,000 being the average value and US$500,000 being the largest attempted […]
The Swiss bank had only a narrow window in which to install a fraud-prevention solution that would detect behavior anomalies associated with a payment without generating excessive false alerts. Here’s why it chose NetGuardians The requirement Zurich Kantonalbank (ZKB) is the biggest of the Swiss cantonal banks and the fourth largest bank in Switzerland. It […]
