AI is revolutionising fraud prevention and business practices, helping payments firms detect suspicious activity and enhance regulatory efficiency. But as AI evolves, so do the tactics of financial criminals which is creating an ongoing arms race between fraudsters and AI-powered defences.
Industry experts from City of London Police, Featurespace, Monzo, PwC, SEON and Thredd provide clarity on large language models, fraud analytics, and the need for precise fraud monitoring tools. The panel examine emerging threats like deepfake fraud, and other AI-driven attacks.
Watch this webinar on demand and read the latest insights from Payments Intelligence to gain actionable insights into AI’s role in financial crime prevention, and how to use it as a force for both security and efficiency.
The Payments Association’s working groups are comprised of industry experts from across the payments chain, who share the mission of driving industry change to shape the future payments landscape and improve the industry on behalf of members of the association
Being a member of one of The Payments Association’s working groups comes with a host of benefits:
In addition, committee members will receive:
All working group members are representatives of organisations with The Payments Association membership.
“This working group 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.”
“The collective nature of the group amplifies our influence, ensuring our voice is heard more effectively. You will become part of a collaborative and collegiate group of industry professionals, building your professional network.”
“A great forum for experts to discuss hot topics”
The Financial Crime Working Group supported TPA’s lobbying campaign to highlight the systemic issue of fraud, particularly APP fraud, in the U.K. This also included championing members’ concerns around the development of a new reimbursement framework, as set out by the PSR.
AI (artificial intelligence) is the simulation of human intelligence processes by machines or computer systems.
The adoption of Artificial Intelligence (AI) divide’s opinion and serves to remind us that humans’ use of technology is not always a force for good. AI has the potential to transform our lives and will ultimately underpin our access to services. It is a disruptive technology which will increase the impact and speed of change. AI deployment clearly comes with risks. The issue facing us all is how to develop new and amend existing policies, processes, and customer journeys to mitigate those risks and then enforce the regulation we create.
The Financial Crime Working Group launched their content programme exploring the role of data sharing in preventing financial crime. The programme included a whitepaper, podcast and webinar exploring the barriers to data sharing in the UK, related legislation and best practice for data sharing arrangements from around the globe.
The Financial Crime working group published a whitepaper explaining the processes of identification and authentication, presenting an overview of the technologies and suppliers that can help businesses know who their customers under the threat of criminal activity such as money laundering, financing terrorism and fraud.
Chryssi Chorafa, CEO and Founder of Starlix and Francisco Mainez, Financial Crime Lead at Lucinity, join Nick Fleetwood, Head of Data Services at Form3 to reflect on findings from The Payments Association’s report ‘Data Sharing to Prevent Economic Crime’. Thanks to Form3, benefactor to TPA’s Financial Crime Working Group.
Please fill out the form to indicate your interest in receiving more information about The Payments Association’s Financial Crime Working Group. A member of our Project Team will be in touch with you shortly.
