In this video, David Heron, the Head of Standards at Pay.UK, discusses the evolving nature of financial crime and the challenges faced by the industry highlighting the pace at which fraudsters operate and the need for the industry to catch up.
David discusses the hijacking of identity and the role of social media and telecoms in combating financial crime. And emphasises the need to be aware of fraudulent verification and the importance of collaboration across disciplines to reduce fraud.
David goes onto suggest that the industry needs to move away from thinking about financial crime solely as a payments issue and focus on the broader picture and sees the most significant opportunity in working across disciplines and thinking outside the conventional payments box to bring different experiences and expertise together to combat nefarious activities.
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