Digital fraud, cyber crime increases globally during coronavirus

Connect Global Group holding virtual summit June 16

CGG logoCOVENT GARDEN, LONDON — The coronavirus outbreak is wreaking havoc on commercial activity across the globe and hastening cyber and financial crime.

A growing dependence on digital infrastructure — coupled with this sudden increased threat landscape — has raised the cost of failure. It has allowed cyber and financial criminals to feed on augmented levels of fear and uncertainty from those who are finding themselves online more and more, today and in the future.

The solution: Financial institutions need to activate boosted digital hygiene standards, be extra vigilant on verifications and follow official updates to protect customers and their own business.

That’s why Connect Global Group — known for its forums, professional training, content library, and community of experts — has put together perhaps the year’s most important interactive, virtual summit on cyber and financial crimes. The cyber threat and crime summit, called IDENTITY.i Virtual Summit, takes place June 16. The speakers and panel of international experts will focus on anti-money laundering (AML) technology and processes; know your customer (KYC) processes at large and small institutions; true digital identity verification, as well as effective methods of detecting and halting fraud and other financial crimes on systems you or your customer’s run.

The IDENTITY.i Virtual Summit allows you to address key challenges in the areas of Open Banking and Digital Identity, Client Onboarding and Client Lifecycle Management, Financial Crime and Fraud — all from the comfort of your home office.

Tune in to more than 25 keynote speakers, access vital case studies and engage with in-depth panel discussions. Participants can also download hundreds of assets and literature in your “digital swag bag”, ask questions in real-time, maintain networking bonds in the virtual lounge and witness innovative solutions in the virtual exhibition hall.

Open Banking, Innovation and digitization are imposing yet another operational challenge that will force financial institutions to rethink their day-to-day processes to achieve efficiency and effectiveness in KYC, Client onboarding, AML, financial crime and fraud prevention. To be efficient, the community must come together to develop a single standard practical approach to customer onboarding and financial crime prevention built around emerging technologies of digital identities, Open Banking, Blockchain, ML and AI. Along with enabling operational efficiency and cost reduction, this will allow much-needed focus on de-risking, which can make AML, Fin Crime and KYC processes effective.

Key Take-aways from the upcoming IDENTITY.i Virtual Summit:

  • Understand Emerging Financial Crime Risks in an Open Banking World
  • Latest Trends and challenges if tackling fraud in the digital age
  • Enhance Client Lifecycle Management (CLM) with AI
  • Revolutionize Client Onboarding with Digital Identity and AI
  • Streamline Compliance with ML
  • Optimize KYC processes and information sharing of Global Banks

To register, please go here.

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