News & Views - Savantor

Fraud Health Check

Wednesday, 01 March 2006

As one of the articles in this month's Market Eye points out "Insider fraud" is one of the most serious threats faced by financial services firms and the FSA is critical of how some Banks are addressing this. There is evidence that criminals are still managing to get jobs in banks where they can learn how systems operate or can coerce other employees to commit fraudulent activities.

Overall the Fraud Governance report found that firms which underinvested in anti-fraud measures were likely to suffer relatively high losses.  Banks need a robust fraud strategy which is sponsored at the board level and supported throughout the organisation.  As in other areas of fraud the criminals will target the weakest links so those banks who have not invested sufficiently in systems and controls are most in danger.

Savantor is able to assist in undertaking focused 'health check' reviews of fraud areas with a health check that will look at such areas as the policies and procedures, tools used, performance, control, trends and MI. The health check will highlight identified areas of risk and provide guidance on how to address these and any other identified issues.

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Ricardo Gomez, Director - Operations & Technology - WiZink Bank - Spain

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Gavin Ingram, General Counsel & VP Strategic Planning - Global Blue - Asia Pacific

Interchange Review

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Adam Slater, Senior Manager - Banking - Nationwide Building Society - UK

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Ernst Verbeek, Managing Director - Trionis - Belgium

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Robert Lambert, Head of Cards Strategy - Permanent tsb bank - Ireland

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Mark Healy, Chief Risk Officer - NEOVIA Financial - UK

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Bjorn Niels, Programme Director - ABN AMRO Bank - The Netherland

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Evert R Fekkes, SVP Payment & Savings Services - Rabobank - Nederland

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