If you’re thinking fraudsters will turn over a new leaf and resolve to behave themselves in 2023, it’s time for a wake-up call, because fraudsters never change their stripes, just their tactics.

As we enter a new year, Andy Renshaw, Senior Vice President, Product Management at Feedzai – the market leader in fighting financial crime with AI – offers his top five fraud predictions for 2023.

Portuguese novobanco has teamed up with RiskOps platform Feedzai in a move to bolster novobanco’s customer experience.

The partnership will see novobanco implement Feedzai’s Risk-Ops platform, Digital Trust (DT), to optimise the user experience.

In addition, novobanco will adopt Feedzai’s Fraud for Banking (TFB) solutions. Both DT and TFB offer a deeper analysis of customer biometrics and behaviour network, device and threat data in real-time to identify legitimate customers and improve fraud blocking before it happens.

Feedzai, a provider of financial crime and risk management solutions, has announced significant enhancements to its RiskOps Platform. This enables banks to better protect their customers from a wide variety of financial scams. These new Feedzai ScamPrevent capabilities deliver detection, classification, and interception of the widest variety of payment scams and financial fraud typologies.

Feedzai, the world’s first RiskOps platform for financial risk management, has released its latest report – The Human Impact of Fraud and Financial Crime on Customer Trust in Banks. The report, based on research of 4,000 consumers in the UK and US, reveals how fraudsters are taking advantage of the widening fraud knowledge gap, outlining the urgent need for banks to educate and protect their customers with technology.

The report reveals that while over half (56%) of respondents have been a victim of a financial scam, many still lack the knowledge to detect and distinguish between the various types of financial crime.

The recent emergence of artificial intelligence chatbots has already changed the world. From ChatGPT, to Microsoft‘s Bing AI, and Google‘s newly released Bard, the advancement in human technology is going to have a huge effect on how humans operate.

But while AI might provide a new dawn for technology, there are a number of serious and unsettling threats.

UK Finance has chosen Feedzai as the lead sponsor and contributor for the next edition of its Annual Fraud Report. The report highlights the key themes, opportunities and challenges for the UK’s banking and finance industry in its continued efforts to protect customers from fraud and is a valuable resource for industry professionals, regulators, and policymakers.

If you’re thinking fraudsters will turn over a new leaf and resolve to behave themselves in 2023, it’s time for a wake-up call, because fraudsters never change their stripes, just their tactics.

As we enter a new year, Andy Renshaw, Senior Vice President, Product Management at Feedzai – the market leader in fighting financial crime with AI – offers his top five fraud predictions for 2023.

Money mule schemes, multi-customer cross-wallet activity and the use of crypto exchanges are the most common money laundering techniques, yet most firms are failing to make use of available technology to mitigate the threat, according to the latest research from Feedzai, the RiskOps platform for financial risk management.

The State of Global Anti Money Laundering Compliance Report surveyed 636 anti-money laundering (AML) compliance experts, representing 77 companies around the world, most of them from the financial services industry, and overall 74 per cent of respondents cited money mule schemes – both unwitting (44 per cent) and witting (30 per cent) – as the most common money laundering threats.