Global Banks Battle COVID-19 Crime Wave
Global Banks Battle COVID-19 Crime Wave LONDON — Fraud risk analyst Rajendran Raj was used to the odd out-of-hours alert from authorities, but a call one Saturday in March heralded a new era, of tackling criminals seeking to cash in on coronavirus. A French drugs firm had contacted Singapore police to report the failed delivery of $10 million of Personal Protective Equipment (PPE) from a supplier in the Asian financial hub, just as demand for such supplies was rocketing. Raj, a 30-year veteran of Standard Chartered, traced the payment to a bank in Singapore and then to seven others. Debit c...