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Risk Management - Page 2

Hemp Offers Profit Potential but Also Pitfalls

By Jim Murez

It’s been a rough go lately for the nation’s farmers, with some combination of tariffs, low prices at the farm gate and flooding all impacting their livelihoods. However, one provision in the 2018 Farm Bill offered a glimmer of light for some farmers: Hemp.

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AI Use in Fraud Detection to Triple by 2021

While only 13 percent of organizations use artificial intelligence and machine learning to detect and deter fraud, another 25 percent plan to adopt such technologies in the next year or two — a nearly 200 percent increase. Fraud examiners revealed this and other anti-fraud tech trends in a cross-industry, global survey by the Association of Certified Fraud Examiners, developed in collaboration with analytics firm SAS.

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5 Critical Questions Security Leaders Need to be Ready to Answer

Organizations across the world face a new risk paradigm: one that encompasses cyber and physical threats. We’ve heard the stories associated with ATM skimming, identity theft, data breaches, scams and phishing. Large financial services organizations are often the victim of hackers looking to steal corporate information and transactional data or funds, and criminals continue to become more sophisticated in their approach.

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Security vs. CX: How to Have Both in the Age of Synthetic Identity Fraud

When businesses in the U.S. adopted EMV chips in credit and debit cards, criminals shifted their fraud efforts to online channels. That shift, coupled with large scale data breaches, loosening credit standards and the exploitation of legacy credit creation practices, laid the groundwork for synthetic identity fraud (SIF) — the combination of real and fake data to create a brand-new identity that belongs to no one, apart from the criminal who created it.

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Decoys to Dye Packs: Facing Down Cybersecurity Threats

By Carolyn Crandall

The days of Jesse James’s train and bank robberies and John Dillinger kicking down doors with his trademark Tommy gun may be long gone, but bank heists are alive and well in the 21st century — albeit with a new flair. Instead of dramatic physical robberies, today’s criminals have shifted the battleground to cybersecurity, infiltrating the networks of financial institutions globally to steal money and personal information. The attacks remain staggering. Back in 2012, individuals and businesses are believed to have lost approximately $78 million during Operation High Roller. Fast forward to today, and the hacking group known as Bandidos Revolution Team is reported to have stolen hundreds of millions of pesos by infiltrating interbank payment systems and hacking into ATMs. Notably, this group is not believed to be connected to another, separate 300-million-peso heist from five banks last year.

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