Financial Crimes: Battling Large-scale Online Fraud

October 3rd, 2007 |
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Join BearingPoint senior manager and technologist Karim Zerhouni to learn who the financial criminals are, what kind of damage they’re doing and what kind of tools they’re using to achieve large-scale money laundering and fraud on an international scale.

Growing in sophistication, online fraudsters are no longer rogue students but rather highly educated PhDs and experts in computer science. These criminals are taking advantage of people who are unaware of their ‘phishing’ techniques and so therefore obtaining access to thousands of unsuspecting peoples’ accounts and account information and selling that information to third parties.

So how does our society address the future and combat these criminals? While there is no one solution or technology that would fix the problem, compliance is the best defense. Ensuring your enterprise is armed with an internal compliance function that revisits the process over and over again will help prevent unwillingly providing loopholes to these organized crime organizations.

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