Page 19 - Applied Intelligence News Today

HSBC blocks £249m in UK fraud with voice biometrics HSBC voice recognition technology has reduced telephone banking fraud as demand for the channel increases Share this item with your network: By Published: 06 May 2021 11:00 HSBC said that telephone banking fraud has been reduced by 50% since the introduction of a biometric security system that authenticates customers through their voices. The bank said about 2.8 million customers have signed up to use its Voice ID system as demand for te...

April 29, 2021 @ 8:35 am By Omar Faridi Almost three-quarters or 75% of financial institutions have reported an increase in cybercrime activities since the Covid-19 outbreak (around February 2020), according to a survey released by BAE Systems. The survey of 902 banking institutions and insurance providers, based in the US and the UK, reveals that this recent rise in cybercrime is also having a significant monetary impact. Over half of the survey respondents reported a considerable increase in...

Financial institutions in the US and UK cut security budgets by a quarter last year and saw cybercrime and fraud activity rise by about the same amount during the pandemic, according to new research from BAE Systems Applied Intelligence. The British cybersecurity and risk management firm engaged Atomik Research to poll nearly 1000 banks and insurers and 2000 consumers in the US and UK back in March, in order to better understand the impact of COVID-19 on the industry. It found that three-quarte...

Challenges arising from the pandemic have left gaping holes in banking security, putting consumers at risk of fraud.

74% of Financial Institutions See Spike in COVID-Related Threats Financial losses have also increased among organizations in the last year, with the average cost reaching $720,000. Financial institutions are hit hard by COVID-related cybercrime, according to new research from BAE Systems Applied Intelligence. The index surveyed 902 organizations in the financial services sector and found 74% of respondents have experienced a rise in cybercrime since the pandemic began, with 42% of banks and i...

Financial institutions see spike in threats linked to COVID-19 Almost three-quarters (74 percent) of banks and insurers have experienced a rise in cybercrime since the pandemic began according to a new report. The findings released today by by BAE Systems Applied Intelligence, the cyber and intelligence arm of BAE Systems, as part of The COVID Crime Index 2021 analyze the changing nature and impact of fraud, risk and cyber threats on UK and US financial institutions and consumers over the last...

3 in 4 Financial Institutions Seeing Higher Threats Due to COVID-19 Financial institutions (FIs), such as banks and insurance providers, are reporting significantly increased threat levels from COVID-related cyber crime according to new research by BAE Systems Applied Intelligence, the cyber and intelligence arm of BAE Systems.  A huge jump in new pandemic-related threats, alongside a rise in challenges caused by enforced work from home guidance, is leaving open and insecure gaps in FIs’ net...

Accenture acquires Core Compete to boost its cloud offering Image: © Alexey Novikov/Stock.adobe.com The cloud analytics company is the latest in a long line of acquisitions made by Accenture in order to enhance its client offering. Global consulting giant Accenture has added another cloud services company to its growing list of acquisitions. Headquartered in North Carolina with offices in the UK and India, Core Compete is a cloud analytics services company that enables digital transformation w...

#COVID19 Fraud Surge Threatens to Overwhelm Banks Phil Muncaster UK / EMEA News Reporter , Infosecurity Magazine Surging levels of fraud and financial crime during the pandemic threaten to overwhelm banking teams working from home with disjointed internal systems, according to new research from FICO. The predictive analytics company commissioned Omdia to poll 110 senior executives supporting financial crime-fighting efforts in banks across the US, UK, Brazil, Ge...

Accenture Acquires Core Compete Accenture has acquired Core Compete, a cloud analytics services firm headquartered in Durham, North Carolina, with additional offices in the UK and India. Core Compete enables digital transformations with cloud-native solutions that deliver artificial intelligence (AI) and machine learning-infused business outcomes, to serve a diverse client base across the US and UK, with particular focus on supply chain, retail and financial services. Terms of the transaction w...