- SEC fines Citigroup for books and records violations and inadequate controls
- Wahed Invest launches Halal-friendly digital investment platform
- Specialist UK police unit prevents £25m of fraud in first half of 2018
- Research finds customers less likely to remember the amount paid by card than cash
- RBS' chief financial officer to join HSBC as finance director
- Diebold Nixdorf wins ATM patent dispute against Nautilus Hyosung
- Halifax reveals Greater London house prices per m2 stall for first time in eight years expired
- RBS welcomed tech pioneers to Edinburgh expired
- Fed Board prohibits former NBRS Financial boss from working in the banking industry expired
- Industrial Bank uses Avaloq to create Hong Kong private banking business expired
- FS workers amongst worst in UK for doing nothing to relieve work stress expired
- Continuous learning will keep FS ahead of evolving malware threats expired
12th June 2018
Monese becomes a member of CIFAS to aid in the fight against fraud
Monese, the UK’s first 100 per cent mobile current account provider, has officially become a member of CIFAS – the UK’S largest cross-sector fraud sharing organisation. By doing so, Monese will join forces with the biggest banking services in the UK to aid in the fight against fraud.
A partnership with CIFAS is a key step towards Monese achieving its long-term goal of preventing financial crime, as it allows the company to become a lead contributor in the battle. This has been an ambition for Monese since its launch in 2015. Banks of all ages and sizes are facing increased levels of cyber fraud, and so are showing a united front to counteract fraudulent activity for the good of all UK residents.
Challenger mobile first brands like Monese are building their own fraud detection capabilities in-house and are deploying rapidly. This will not only help to catch criminals in the act but will also act as a deterrent for those would-be-fraudsters who are considering trying to profit at the expense of customers.
As well as their new partnership, development for a new, anti-fraud tool is underway in-house at Monese. A team of data scientists has been assembled to stay one step ahead of cyber-criminals; ensuring Monese users are given every possible protection.
Norris Koppel, founder and CEO of Monese, said: “Protecting our users and ensuring we take every step possible to end financial crime has been of the upmost importance to use since we began, and we’re extremely pleased to announce our partnership with CIFAS.
"To be able to contact fellow banking services and share thoughts and insight into fighting cyber-crime is an important part of the process. We are equally excited with the growth of our in-house anti-fraud team who are already doing a great job. We plan to invest a lot of time and energy in developing this further.”