FinCrime Dynamics

The team at FinCrime Dynamics have been busy with our #community of #fraud fighters 🦸 running beta tests on our #appfraud controls testing service making sure everyone can be as app fraud #risk-ready as possible before the Oct deadline 💪🏼 We thought we'd take a moment to really define 🧐 what we're building: (Bear with us as we get a little geeky 🤓) The FinCrime Library defined: 📚 A library is a place set apart to contain books, periodicals, and other material for reading, viewing, listening, study, or reference, as a room, set of rooms, or building where books may be read or borrowed ⤵️ 🔬📚 A research library is a library that has a large collection of materials on one or more topics, and is intended to meet research needs. Research libraries often contain primary and secondary sources, academic research and peer-reviewed work ⤵️⤵️ 🦸🔬📚 The FinCrime Dynamics APP fraud library contains the world’s most comprehensive library of #financialcrime behavioural simulations and a specifically designed #synthetic data generation engine for anti-financial crime applications. It has been meticulously curated by our research team made up of world leading experts in financial crime intelligence🕵️ plus decades of experience #machinelearning 🧑💻 and #data science 👩🏫 Join our #community and see what all the hype's about. Link in comments ⬇️

Come meet FinCrime Dynamics at Cambridge Tech Week 2024! #CTW24

FinCrime Dynamics has been shortlisted for the 2024 Barclays Entrepreneur Awards in the Innovation in #AI category! 🎉 Did you know❓ #FraudDetection is now the number one use of AI in financial services, creating a rapidly growing demand for high quality training #data and financial crime intelligence resources. How does FinCrime Dynamics help❓ We are solving anti-financial crime AI data problems by revolutionising intelligence sharing and data resources. Our proprietary technology solution Synthetizor enables this with a groundbreaking library of criminal behaviour #Simulations and #SyntheticData engine. #BarclaysEA24 Rise, created by Barclays

The volume of #appfraud scams has increased by 12% since 2022 and we're only expecting this number to go up ⬆ 📌 70% were purchase scams 🛍️ followed by 📌 advanced fee 💸 and impersonation 👺 scams at 10% each FinCrime Dynamics has built a new APP fraud testing SaaS service to help reduce APP fraud risks. The solution has been designed with the input of #MLROs, Heads of #Compliance, Heads of #Fraud and industry leaders in the #banking and #payments space Check out our latest blog on how to get #APPfraud risk-ready *NOW* ⬇️

👀 The Payment Systems Regulators latest report is out! It covers 2023 and includes the UK’s 14 largest #banking groups, along with data for 11 other smaller firms that were in the 💥top 20 highest receivers of fraud💥 🧐 Here's the down and dirty: the volume of app fraud scam has increased by 12% since 2022 and we're only expecting this number to go up ⬆ 📌 70% were purchase scams 🛍️ followed by 📌 advanced fee 💸 and impersonation 👺 scams at 10% each FinCrime Dynamics has built a new #APPfraud testing SaaS service to help reduce APP fraud risks. The solution has been designed with the input of #MLROs, Heads of #Compliance, Heads of #Fraud and industry leaders in the #banking and #payments space 🤩 What you get: 📚 Access to a library of hundreds of APP fraud behavioural techniques for control testing ♻ Recurring testing services including updates to reflect recent emerging APP threats 🙋♀️🙋 Industry peer control performance information for control #benchmarking 📊 Specifically designed dashboards for control performance #reporting If you are looking for external support validating your app fraud controls, we will: 🔎 Spot the gaps 💸 Quantify losses 🛡️ Improve performance 🤓 Provide and independent assurance Do us a message if you want to discuss

📰 FinCrime Dynamics published and article on #appFraud in The Payments Association newsletter talking about how to measure and mitigate app fraud risks. Highlights 🤓: The FinCrime Dynamics team offer a comprehensive solution to help #financial institutions fortify their defences against APP #fraud. Here’s how it works: 👀 Spot the gaps: The service enables institutions to identify vulnerabilities in their existing #fraudcontrols. By simulating different APP fraud behaviours, the platform helps uncover weaknesses that fraudsters could exploit, allowing institutions to address these gaps proactively 💸 Quantify losses: Financial institutions can measure and report potential losses from APP fraud. Through detailed simulations, the service estimates the financial impact, helping institutions understand the magnitude of the threat and prioritize their efforts accordingly 📊 Benchmark performance: The platform allows institutions to compare their control performance against industry peers. This benchmarking capability provides valuable insights into how an institution’s defences stack up, highlighting areas where they may lag and identifying industry best practices 🛡️ Improve performance: Using the insights gained from the simulations and benchmarking, institutions can tune their controls to enhance performance. Continuously improving fraud controls ensures that institutions remain a step ahead of evolving fraud tactics 🕵️♀️ Advanced AI defences: FinCrime Dynamics leverages a library of fraud simulations and synthetic data to build high-performance #AI defences. These AI-driven solutions are tailored to assess weaknesses comprehensively and provide robust protection against APP fraud Read the full article here ⤵️

Yesterday FinCrime Dynamics CEO and Co-Founder Stephen Quick CFA took part in a Finextra webinar to discuss the use of #AI and #SyntheticData in the fight against #FinancialCrime. Discussion points: 🤖 The state of anti-financial crime AI tools 🧬 Synthetic data and how can it help fight financial crime 🧪 Testing and training AI defences using #simulations & synthetic data 😈 The current #fraud landscape and recent trends ⚖️ Upcoming regulatory changes around #APPfraud Panelists: Gary Wright Head of Research Finextra Richard Harmon Global Head of Financial Services Red Hat Stephen Quick CFA CEO and Co-founder FinCrime Dynamics Jessica Cath Head of Financial Crime Thistle Initiatives Watch the full webinar below ⬇ https://bit.ly/3Kxa6oA

Are you ready to revolutionize 👽 your approach to #fraud prevention? The FinCrime Dynamics, Finextra & Red Hat #webinar is 💥TODAY💥 Tuesday 23 July 2024, *live* at 3PM BST [4PM CEST/10AM EDT]. Join this amazing panel for a webinar on #AI and #SyntheticData: Fighting #FinancialFraud and Protecting Customers 🧚♂️ Gary Wright 📚 Head of Research Finextra Richard Harmon 🏦 Global Head of Financial Services Red Hat Stephen Quick CFA 🦸 CEO and Co-founder FinCrime Dynamics Jessica Cath 🦹♀️ Head of Financial Crime Thistle Initiatives The session will uncover the vulnerabilities of current AI models that rely solely on historical #data and will explore how integrating internal, external, and #synthetic data can create a robust defence against the ever-evolving landscape of #financial fraud. https://lnkd.in/eEbPB7_U

The FinCrime Dynamics team👩💻🧑💻 and our wonderful 🥰 #community of #MLROs, #compliance and #fraud leaders have been building 🛠️ something exciting 👀 Check out our first 🥇Newsletter and 🍿watch a sneak peek video 📽️ of our new #appfraud busting SaaS solution ⬇

Join FinCrime Dynamics, Finextra, Red Hat and Thistle Initiatives to understand why integrating internal, external, and #syntheticdata to update #AI models is the best #strategy to protect customers from #fraud. 📅 Date: Tuesday, July 23, 2024 🕒 Time: 15:00 BST | 16:00 CEST | 10:00 EDT ✍ Registration below ⬇ #Fraudsters are constantly evolving. Stay ahead with #insights from industry leaders on utilising #AI and #syntheticdata to counter new #fraud tactics 🗣 Speakers include: Stephen Quick CFA, CEO, FinCrime Dynamics Richard Harmon, Global Head of Financial Services, Red Hat Jessica Cath, Head of Financial Crime, Thistle Initiatives Gary Wright, Head of Research, Finextra 📌 https://lnkd.in/eUWhRBnX #FinancialCrime #Technology #Innovation #Collaboration #payments #appfraud #banks #simulation #transactionmonitoring