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International Fraud Awareness Week 2021 @ Featurespace

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Join the global effort to fight fraud during International Fraud Awareness Week (IFAW)

Been a victim of fraud or financial crime? If not, bet you know someone who has.

Well, that’s no surprise as in our increasingly digital world, sophisticated criminal activity is taking advantage of individual vulnerabilities, and exploiting weaknesses in our global financial infrastructure generating huge personal and institutional losses.

In the first half of 2021 more than £750 million was stolen through fraud in the UK.

Perhaps that’s why the UK has been branded the ‘bank scam capital of the world’.

The US and elsewhere are not far behind; Americans lost around US$30 million to phone scams alone over the last year, and online fraud attempts are up 25%.

As the world leader in fraud and money laundering prevention technology, we thought it essential to join forces with the ACFE and the many other fraud fighting heros around the world to raise awareness of fraud and help reduce its impact.

Throughout International Fraud Awareness Week, we’re bringing you fraud insights and expert commentary from the smartest industry specialists, data scientists and machine learning technologists to help unite us in the fight against fraud, and outsmart the criminal.

Only the adaptive survive.

Don't miss:

In this week’s featured video, Featurespace Fraud Expert, Roger Lester, will be discussing the rise of Scams around the globe.

Then, on Friday, Dr. Karthik Tadinada’s blog will demonstrate how fraud acts like an illness. It evolves, it mutates, it spreads. To protect financial organizations and their customers, fraud prevention needs an antidote which learns from past attacks so it can fortify itself against future threats.

Coming up this week:

Nov 15, 12:25 GMT Article | Deep learning and the new frontiers of model explainability

Nov 16, 11:00 EST Live | Staying one step ahead of payments fraud

Nov 17, 16:50 GMT Event | The power of analytics and AI in the fight against fraud at MoneyLIVE Big Meet-up in London

Nov 18, 10:00 GMT Live | Staying one step ahead of payments fraud

Don't miss:

This week our Live Webinars with Mongo DB will be taking place – covering the USA on Tuesday and EMEA on Thursday. You can register for the US event here, and the EMEA event here.

On Wednesday our team will be at the MoneyLIVE Big Meet-up in London, where Sean Neary will be joining the panel for ‘The power of analytics and AI in the fight against fraud’. Let us know if you’ll be there!

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Our team were at MoneyLIVE Big Meet-up

The team headed into London for our first in-person UK conference of 2021 - a packed agenda with great insights from FIs and Industry experts. The rise of APP scams featured heavily, while our own Sean Neary joined Matt Tataryn, Tide, on stage to discuss 'the power of analytics and AI in the fight against fraud'. The recording will be available soon - watch this space!

What’s your fraud story?

The value of alleged fraud reaching UK courts in 2021 has hit just under £140 million.

Have you been a victim of fraud? Or have you taken steps to prevent and protect against fraud?

Share your story via the form or email [email protected].