May 12, 2021

“Computers don’t commit crime…people do” – We Fight Fraud

  • It takes a network to fight a network
  • Scams Exposed: Looking through the smoke and mirrors
  • Mules Exposed: How do you fight a threat you can’t see?
  • Consortiums: Near real-time data sharing between like-minded businesses

  • On the 28th April, a very unique group of security professionals gathered for a conference unlike any other; We Fight Fraud Live. Our hosts were not part of an association, nor a vendor or media outlet, but a diverse network of people whose driving ethos is that fraud and financial crime can only be properly understood when looked at from multiple perspectives.

    When it comes to the We Fight Fraud team, there is probably no comparable team in business quite like them; Andy McDonald, former Head of Special Investigations at SO15 Counter Terrorism Command and Head of Metropolitan Police Fraud Squad at New Scotland Yard heads a team including fraud expert Tony Sales, once dubbed ‘Britain’s greatest fraudster’, ex-Mafia princess Marisa Merico and Dr Nicola Harding, a leading criminologist from Lancaster University, among others. This one-of-a-kind team combine ‘real and current’ intelligence from the criminal underworld with insights from top academics, law enforcement and business, to create a holistic approach to fighting fraud.

    At LexisNexis® Risk Solutions – we too advocate a holistic approach to fraud prevention: we offer a –  multi-layered defence against fraud, bringing together identity and authentication capabilities, executable in near real-time, and across the entire customer journey. We achieve through uniting market leading digital identity intelligence, physical identity and behavioural biometrics.

    We Fight Fraud positions intelligence sharing as key in fraud prevention – something that speaks well to our own LexisNexis® ThreatMetrix® Consortium functionality.

    It is to this end that we joined forces with We Fight Fraud for their annual virtual event as headline sponsors, adding our own unique perspective to the event and joining other sponsors such as Cifas, Vendorcom and the Police Digital Security Centre.

    In a wide-ranging and packed agenda, delegates could virtually tune in to in-depth analysis of recent financial crimes, compelling interviews with former criminals and new, cutting-edge criminal research. Our experts at LexisNexis Risk Solutions delivered four insightful presentations – including:

    It takes a network to fight a network

    Mike Nathan and Rebekah Moody debuted brand new analysis – one fraudster, with one device, targeting three banks within three hours. However, as we know, fraudsters do not work in isolation, with countless cybercriminals operating in complex and sophisticated fraud networks stretching across industries and borders – in their presentation, Mike and Rebekah explains how our very own network – the LexisNexis® Digital Identity Network® – can detect and identify networks of fraud.

    Scams Exposed: Looking through the smoke and mirrors

    Joey Bajela gave a unique glimpse into his world where he fights fraud on the frontline. Educated at the University of Oxford and GCHQ accredited, with a decade of experience across financial services, digital fraud risk, and information security, Joey Bajela has seen scams grow into a sophisticated, complex scourge of the digital world. Today, as a Senior Engagement Manager for the LexisNexis® Risk Solutions Professional Services Team , Joey’s everyday work goes towards protecting people and fighting fraud. In his session at WFFL, Joey explained:

    • The Modus Operandi of all scams
    • How to look beyond device to detect and identify scams
    • Top 3 myths surrounding scams

    Mules Exposed: How do you fight a threat you can’t see?

    Farah Nain, an engagement manager for the LexisNexis® Risk Solutions Professional Services Team shines a light on money mules, giving us a unique glimpse into her world of fighting fraud on the frontline.

    A former detective in the London Metropolitan Police, Farah knows from first-hand experience, the devastating impact that fraud and cybercrime can have on victims. In her session at WFFL, Farah discussed:

    • The different types of money mules
    • Top 3 myths surrounding money mules
    • How we uncovered a £500K fraud ring within 48 hours of deploying a mule model?

    Consortiums: Near real-time data sharing between like-minded businesses

    How can organisations collectively fight fraud? In this session at WFFL, Dan Holmes, Solutions Director at LexisNexis® Risk Solutions, gave an insight into how businesses today can come together to share information about fraud. 

    Watch Dan’s presentation to learn how businesses with common goals, challenges or fraud risks can share their negative and positive data attributes in near real time, in order to more effectively protect against organised cybercrime targeting a specific industry or sector.

    If you would like to find out how this can be achieved for your business, please reach out to us to discuss further.

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