Risk Management Association of India
Global body dedicated to education, research and development on Risk Management
Rs.82000 crore bank frauds reported: As per RBI data, 12 PSBs (Public Sector Banks) had reported frauds worth Rs 81,921.54 crore (approximately Rs.82,000 crore) in preceding fiscal 2020-21. This data was revealed on the basis of the Right to Information (RTI) Read More …
Fraud is a major problem for businesses. However, it’s also an issue that’s growing, complicated and often very misunderstood. With fraudsters looking to exploit Covid-19 through pandemic-related scams, it’s only been in the past year or two that I’ve observed Read More …
Money laundering, automated clearing house fraud and wire transfer scams are running rampant in the banking industry. U.S. financial institutions spent more than $4.5 billion on fraud detection systems in 2021 as continuous threats around real-time payments emerged in the Read More …
In India, technology has transformed financial services and has given rise to a whole new industry, popularly addressed as fintech. This industry has witnessed phenomenal growth in India and across the globe in the past few years. According to Inc42data, between Read More …
Since the pandemic struck, the fraud wave is on the rise. In the UK, for instance, consumers lost more than £2.3bn in a year from 2020 to 2021. It was a surge of 33% in fraud cases reported to the national anti-fraud Read More …
While shopping online, consumers regularly hand over their personal and financial data, so retailers should protect their domains from unauthorized use. If they don’t, their domains could be used in business email compromise (BEC) attacks, phishing emails, email scams and Read More …
Insurers’ use of predictive analytics to fight fraud has reached an all-time high, according to the latest insurance fraud technology study by the Coalition Against Insurance Fraud and analytics and AI leader SAS. The State of Insurance Fraud Technology study reveals that 80% of Read More …