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Project Financial Crime

This project gives professionals with the passion and enthusiasm to reduce financial crime the opportunity to network with, share expertise and learn from like minded people and invited external guests. We produce thought leader guides on crucial financial crime topics for members and influencers in the sector. A fantastic opportunity to help determine policies to defeat criminals who increasingly use technology to conceal their activities. We aim to ensure the good guys keep one step ahead.

Jane Jee, Project Lead

Project Knowledge Partners:

Mission Statement:

To deliver community-driven solutions that address the problems posed by digital and financial criminal activity and position The Payments Association and its members as leaders in tackling financial crime

Strategy and Approach 2021:

Digital Identity sub-group

  • Development of a clickable demo on digital identity, providing examples of different customer experiences/journeys
  • Following the successful publication of The Payments Association’s ‘Guidebook to Digital Identification and Authentication’ commissioned by CHYP March 2020
  • Publish quarterly paper on the state of the Digital Identity Market in the U.K.

Consumer Guidance sub-group

  • Review current Know Your Customer (KYC) and Customer Due Diligence (CDD) processes
  • Create advisory piece on DMARC technology to issue members of The Payments Association
  • Provide a platform of resources on DMARC technology to members of The Payments Association in partnership with Global Cyber Alliance

Data Sharing Sub-Group:

  • Pen Open Letter to the government on SARs reform
  • Publish report on data sharing vs. data privacy, an important battle when fighting financial crime

Wider Industry Work:

  • Engage with organisational bodies
  • National Crime Agency – UK Financial Intelligence Unit
  • Collaborate with NCA in regard to their recent work on combatting child sexual abuse and exploitation (CSAE) in the payments industry
  • UK Finance Working Group on Financial Crime
  • Joint Fraud Taskforce Meeting (JTF)
  • Financial Action Task Force (FATF)

Project Financial Crime Team


Jane Jee – Director, Jee Associates and The Hilda Project


Angela Yore – Managing Director, SkyParlour

Team Members

Jonathan Jensen – Regulatory Policy Advisor, GBG

Philip Creed – Director, fscom

Andrew Churchill – Director, Technology Strategy

Victoria Preece – Senior Compliance Manager, allpay

Alison Clair – Mortgage Fraud, External Relations, Lloyds

Steve Pannifer – Chief Operating Officer, Consult Hyperion

Fabien Ignaccolo – Chief Executive Officer, Okay

Simon Booth – Marketing Manager, LexisNexis Risk

Neil Turner – Compliance Manager, Mastercard

Lwanga Inyambare – Senior Fraud and Risk Analyst, Cybertonica

Claire Pratt – Compliance lead, tred

Sara George – Partner, Sidley Austin

Directory of Payments Association Members

Company Info
Industry Segment
Revelock enables companies to reveal and respond to digital attacks without hindering the customer experience. Our Fraud Mitigation Platform combines behavioural biometrics, advanced malware detection, network and device assessment with AI models, to create and continuously analyse the BionicID™, spot bad actors and mitigate risk regardless of the type of attack. Industry Segment: 6-1 AML / KYC / Identity / Fraud Management / Compliance
6-1 AML / KYC / Identity / Fraud Management / Compliance
[email protected]
Entersekt is a leading provider of strong device identity and customer authentication software. Financial institutions and other large enterprises in countries across the globe rely on its multi-patented technology to communicate with their clients securely, protect them from fraud, and serve them convenient new experiences irrespective of the channel or device in use. They have repeatedly credited the Entersekt Secure Platform with helping to drive adoption, deepen engagement, and open opportunities for growth, all while meeting their compliance obligations with confidence.
6-1 AML / KYC / Identity / Fraud Management / Compliance
[email protected]
Okay is a fully compliant « Strong Customer Authentication » platform that provides transaction and authentication security via financial apps. We help all issuers comply with PSD2 SCA’s requirements by integrating strong yet frictionless security services to their apps, shielding the authentication process from any attack, even the unknown, innovative ones of tomorrow.
6-1 AML / KYC / Identity / Fraud Management / Compliance
[email protected]
Chargebacks911® is a leader in payments industry innovation, pushing the envelope in chargeback mitigation to help merchants recover more revenue than ever-before possible. It provides innovative new solutions, patented technologies, and tactical dispute strategies to manage chargebacks – all of which are customised for more than 25 different industries, with flexibility to accommodate any payment method or sales tactic. This strategy is based on the fundamental principle that all chargebacks are produced by one of three sources: criminal fraud, friendly fraud, or merchant error. Non-technical and API integrations generate quick and effortless results. Recently, the dispute experts at Chargebacks911 launched a new brand, Fi911, to support financial institutions with innovative back-office management technologies. Its proprietary DisputeLab™ makes resolving chargeback disputes faster and more efficient by optimizing each step in the dispute cycle. Both Chargebacks911 and Fi911 are based out of locations in North America and Europe to support global merchants and financial institutions with on-demand, region-specific expertise. Chargebacks911 has received many accolades for its dedicated work in the space, and has been named the Customer Choice Award for Best Chargeback Management Solution at the CardNotPresent Awards for four years in succession.
6-1 AML / KYC / Identity / Fraud Management / Compliance
[email protected]
Our mission is to build products that deliver intelligent risk and fraud technologies, creating frictionless authentication and increased profitability. • Eliminate inefficient manual compliance processes and fines • Reduce fraud and chargebacks by up to 70% through greater accuracy of risk measurement • Cut risk and fraud management costs by up to 50% through processes automation and removing the need for expensive hardware • Manage AML and compliance risks as well as internal threat fraud
6-1 AML / KYC / Identity / Fraud Management / Compliance
[email protected]
Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. With $6.25 billion in revenue, more than 40,000 customers and 400,000 end users across 190 countries, Refinitiv is powering participants across the global financial marketplace.
6-1 AML / KYC / Identity / Fraud Management / Compliance
[email protected]
GBG offers a range of solutions that help organisations quickly validate and verify the identity and location of their customers. Our market-leading technology, data and expertise help our customers improve digital access, deliver a seamless experience and establish trust so that they can transact quickly, safely and securely with their customers online.  Headquartered in the UK and with over 1,000 team members across 16 countries, we work with 20,000 customers in over 70 countries. To find out more about how we help our customers establish trust with their customers, visit www.gbgplc.com 
6-1 AML / KYC / Identity / Fraud Management / Compliance
[email protected]
fscom is a boutique firm of compliance experts who specialise in the payments and e-money, crypto, retail banking, and trading and broking sector. We help firms adhere to the regulatory requirements in the UK and Ireland, specifically in authorisations, advice, audits, interim roles and training across financial crime, regulatory compliance and cyber security.
13-6 Regulatory compliance services
[email protected]
Kompli-Global has developed a specialist solution suite comprising of unique proprietary products to deliver end to end KYB on-boarding and on-going screening We use a combination of advanced AI driven technology combined with unrivalled human expertise to fully identify corporate ownership structure and alert clients to potential risks indicators, bad actors and adverse events.
13-6 Regulatory compliance services
[email protected]
W2 has access to leading data and service providers ensuring that up to date and reliable information is available via a single point of access; enabling businesses to satisfy regulatory requirements and make reliable informed decisions about consumer and corporate customers through onboarding and monitoring.
6-1 AML / KYC / Identity / Fraud Management / Compliance
[email protected]

Recent Media

The Long and Winding Road to SCA

This paper will identify the lessons that can be learnt from continental Europe on Strong Customer Authentication (SCA), the best practices that can be followed in order to minimise customer friction as well as the early impact SCA is having on fraud levels.

KYC experience - driving customer loyalty, advocacy and new business

The challenges faced by the MLRO in a small AML regulated firm

Brought to you by Project Financial Crime, this podcast episode discusses AML obligations of EMIs and APIs and what the role is for these firms in relation to their agents. You can also find out what the challenges are of filing suspicious activity reports (SARs), the current landscape of AML, (including recent prosecutions brought against financial institutions), and what the government is doing to bring in more corporate liability to prevent further fraud and financial crime.

The Payments Association's response to HM Treasury's Call for Evidence Review of the UK’s AML CTF Regulatory Regime

The Payments Association's response to HM Treasury's Consultation on Amendments to the Money Laundering, Terrorist Financing and Transfer of Funds Regulations (October 2021)

The Payments Association's response to the DCMS consultation on digital identity

Financial Crime, Payment Fraud and the Role of Digital Identity

This paper provides an overview of the current landscape, emerging threats and insights into how fraud controls can be improved.

How to Prevent Financial Crime and Payment Fraud and the role of Digital Identity

Our fantastic panel of industry leaders and subject matter experts explores the changing financial crime and payment fraud market landscape, the emerging risks, current gaps and why digital identity is critical for future success.

Customer Disputes – A review of Chargebacks and Double Credits

This whitepaper sheds light on the unprecedented and sudden rise in customers claiming double refunds or ‘double credits’ through chargebacks and alternative avenues, particularly from the travel, hospitality, and entertainment sectors due to the pandemic. The paper identifies best practices and makes a series of recommendations on how to improve the customer dispute process for all stakeholders in the payments value chain.

HMT’s Kalifa Review and the fight against Financial Crime in the UK

The Payments Association’s Project Financial Crime team will be discussing the Kalifa Review from HM Treasury. The review, which was published 26th February 2021, will be an opportunity for the Government to acknowledge and help shape the future of Fintech in the UK. The Project Financial Crime team is joined by other members from across the Payments Association community, honing in on how the review will help the battle against the epidemic of fraud and financial crime in the U.K.

Training Session Three - fscom

Day 4 of PAY360 Virtual Conference: Training Session Three: MT Global, Lessons learned – HMRC fined FX and Payments firm MT Global with a huge £23m fine, what are the lessons you should take from this.

Thought Leadership Session: Customer Disputes, Chargebacks and Double Credits

Day 2 of PAY360 Virtual Conference: Be the first to hear the results of primary research completed by the Payments Association into the increasingly important topic of customer disputes, the chargeback process and instances of double credits being issued for the same disputed transaction. Our expert panel of network, issuer, merchant acquirer and solution provider will discuss the topic, hear how COVID has amplified the problem, identify reasons for double credits and make recommendations for improvements to benefit all stakeholders.

Digital identity in the UK December 2020

This document summarises activity in the UK digital identity marketplace. It covers HMG’s (UK Government) latest steps towards digital identity, HMG digital identity schemes and identity standards in the UK.

The Payments Association’s Guidebook to Digital Identification and Authentication

This guide explains what identification and authentication are, presenting an overview of the technologies that can help you. It also arms you with key questions to put to suppliers when determining which solutions will meet your needs best.

Project Futures report - The Fight Against Fraud and Financial Crime

This report discusses the fight against fraud and financial crime. It makes the case for increased investment in technology systems and greater centralisation and consolidation of department responsibilities. The content of this report draws on discussions at a workshop organised by the Payments Association.

Ingenico Fighting Fraud Report 2020

This report provides a detailed summary of fraud up to the present, the various solutions that have been developed to tackle it, an explanation of the innovative new technologies being utilised against fraudsters, and how fraud is expected to evolve in the future.

Risk Assessment Guidance Document

The guide describes an AML risk assessment and why is it necessary. It describes an ‘EnterpriseWide Risk Assessment (EWRA)’ and a ‘Customer Risk Assessment (CRA)’. It then makes the case for why and how often a risk assessment should be conducted.

Three years on from Bangladesh

In this report SWIFT examines the trends observed over the course of 2018 and 2019, showcasing how both business and security information can utilise tell-tell signs, and become key in detecting and responding to attempted attacks.

Facing up to Financial Crime

Analysis of payments-related financial crime and how to minimise its impact on the UK In association with Barclays, Refinitiv and a syndicate of Payments Association members

Why your PSP should be your best defence against fraud

This report examines the challenges facing merchants when it comes to fraud prevention, and explores the methods they can utilise in order to implement a successful fraud strategy.

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