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AFP: Fraud is the biggest painpoint for accounts payables automation

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AFP: Fraud is the biggest painpoint for accounts payables automation

Kicking off the first day of AFP, the conference for finance and treasury professionals held in Nashville, Tennessee this year, Mike Watercott, CTP, working capital consultant, US Bank, led a discussion on striking the balance in payments with Andy Sullivan, vice president of channel sales, Bottomline and Cynthia MacGeagh, treasury manager, Clayton Homes.

Axiom Bank hit with enforcement action

/crime

Axiom Bank hit with enforcement action

The Office of the Comptroller of the Currency (OCC) has filed an enforcement action against Axiom Bank in Florida.

Climb Credit sued by CFPB for “false promises and outright lies”

/crime

Climb Credit sued by CFPB for “false promises and outright lies”

The Consumer Financial Protection Bureau (CFPB) has announced its suit against Climb Credit and its largest shareholder 1/0 for misrepresenting the quality of its training programmes at partner schools.

Over 62% of UK cite mobile app fraud as top concern

/crime

Over 62% of UK cite mobile app fraud as top concern

62.1% of UK consumers see mobile app fraud as a top concern, with 50% also citing hacking as a fear, according to findings from the Open Worldwide Application Security Project (OWASP) and Appdome.

Fintech Australia backs government's scam prevention plan

/crime

Fintech Australia backs government's scam prevention plan

The industry group for Australia's startup sector, Fintech Australia, has given its support for the government's proposals to implement scam obligations for financial services firms.

Big tech and banks fall out over compensation for fraud victims

/crime

Big tech and banks fall out over compensation for fraud victims

A war of words has broken out between banks and big tech firms over who should be primarily responsible for reimbursing victims of fraud.

Ecommerce fraud to exceed $100bn by 2029

/crime

Ecommerce fraud to exceed $100bn by 2029

The value of ecommerce fraud is set to rise threefold in the next five years, thanks to the impact of AI.

UK payments could be delayed up to three days to prevent fraud

/crime

UK payments could be delayed up to three days to prevent fraud

The UK Treasury will give banks new powers to delay payments by up to 72 hours to investigate suspected fraud or scams.

Ireland to grant National Cyber Security Centre emergency powers

/crime

Ireland to grant National Cyber Security Centre emergency powers

Proposed legislation is set to give Ireland's cybersecurity agency the power to monitor all of the country's internet traffic when there is a "pressing national security threat".

Finextra & Eastnets unveil new data on the global state of trade-based financial crime

/crime

Finextra & Eastnets unveil new data on the global state of trade-based financial crime

Finextra this week released new research investigating how institutions globally are tackling the mounting issue of trade-based financial crime (TBFC).

Fraud, Error, and Debt bill proposed by UK Government

/crime

Fraud, Error, and Debt bill proposed by UK Government

The UK’s Labour government has announced the Fraud, Error, and Debt Bill to tackle fraud by requiring financial institutions to share data that indicate potential benefit overpayments.

Bank of England to form AI consortium

/crime

Bank of England to form AI consortium

The Bank of England (BoE) is calling on financial services firms to join its artificial intelligence (AI) consortium designed to oversee the use of the technology within the sector.

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