Fraud and Financial Crime Management
Ensure your security with Bottomline's fraud and financial crime management solutions, offering unparalleled protection from fraud and financial crime as well as helping you to comply with regulations.
The subsequent response from the business community has been varied but now the net is closing in. Organisations, institutions and regulators are galvanising the industry to face up to the very real fraud threat that exists today with technology providers leading the way with investment in security and detection solutions to build the financial fortress.
Amongst the high profile incidents, experienced hackers targeted SWIFT customers to create fraudulent transactions prior to submission into the SWIFT network. The SWIFT interface used by financial institutions was compromised and attackers exploited vulnerabilities in banks’ funds transfer initiation environments prior to messages being sent over the SWIFT network.
In response SWIFT has issued a set of security standards that will facilitate a more secure financial ecosystem. Known as the SWIFT Customer Security Programme, or CSP, SWIFT has established a set of mandatory and advisory controls which will act as a security foundation for the entire SWIFT community.
Identifies Threats in Real-Time
Uses Intelligent Machine Learning, Rules Based Detection, and Behavior Profiling
Reduces Investigation Time
Creates Operating Efficiency
Assists in the Compliance with the SWIFT Customer Security
Just stopping payment fraud attempts won't cut it in today's digital payments landscape. Organisations need to be aware of any attempt and be able to track the process it would take.
The 2020 Business Payments Barometer arrives at an unusual time, amidst COVID-19. It provides a snapshot of how companies are managing their payments pre-pandemic. The report analyses where companies are set to make investments over the next year, where they won’t, and how a ‘new normal’ might influence these findings as we emerge from the pandemic.
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