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Because I am on a European discussion list about computer security topics, I received a 36 page PDF on How financial firms in Britain are managing Fraud Risk, that was published February 2006. This is a UK government report, that reads like a US government GAO report & looks like it is not copyrighted. I read the whole thing and saw no restrictions against sharing the report.
British laws and practices are a bit different from in the USA so some risks will not be the same All types of fraud are growing rapidly in Britain Internet, Credit Cards, ATM, checks, money laundering, insider crime total 16 billion pounds in 2004 The 2 biggest perpetrators are company managers and organized crime Kinds of content in the 36 page PDF ========================== * Governance laws and industry standards on the other side of the Atlantic * Gaps found in fraud prevention practices * Quality of police and judicial systems in resolving fraud cases (poor) * Quality of reporting about fraud, and fraud prevention, to senior management * Evolution in Fraud management practices * Support for Whistle blowing * lots more Examples of fraud ============= * Open new account, deposit bogus check, immediately withdraw the max* Forged Utility Bills etc. used to open bank accounts, build up credit, then default on debts
* Criminal gangs engaged in false auto insurance claims* Insider crime cases such as Post Office employee absconding with key mailings on behalf of banks, then confederates using the contents to file change of address with the banks, leading to draining the accounts * Nigerian scam variants (steal from your employer bank accounts, or your employer's customers)
* and others Evaluation of systems ================ Voice Risk Analysis to screen customer phone conversations Reported insurance loss vs. industry wide statistics Plastic card suspicious patterns Train employees to recognize "red flags" and lots more I think Homeland Security could learn from some of this - Al Macintyre http://en.wikipedia.org/wiki/User:AlMac BPCS/400 Computer Janitor ... see http://radio.weblogs.com/0107846/stories/2002/11/08/bpcsDocSources.html
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