Fraud

According to the latest edition of the IFOP survey for Brink's France (27 and 28 0ctober, 2020), cash remains the most frequently used means of payment by the French. 79% of the population are opposed to its disappearance.

There are a growing number of cases of credit card scams via fraudulent telemarketing firms in Israel, particularly targeting the elderly. The Israeli government is being called upon to take action, and help raise awareness about the risks of using credit cards.

Only 16% of Britons consider contactless more secure than cash, Equifax survey finds.

The French Ministry of Finance put an end to a legal loophole whereby hosts could avoid declaring their Airbnb rental revenues thanks to a prepaid card issued in Gibraltar.

The Bank of England is seeking to enforce the detection of counterfeit banknotes through the Banknote Checking Scheme. This initiative is designed to strengthen the cooperation between retailers and the central bank to identify counterfeit notes.

Losses due to card fraud should reach a record high in 2017 and continue increasing significantly in the coming years.

A ransomware named WannaCry affected thousands of businesses, hospitals and organisations worldwide and might continue spreading in the coming days.

Russian criminals transferred more than $20 billion stolen money in Europe via Moldovan, Latvian and British banks.

Fraudsters are turning to alternative payment methods and exploit the existing loopholes to conduct illegal transactions.

The Payment Card Industry Security Standards Council warns that going cashless exposes economies to greater risks of identity theft, fraud and scams.

Mobile money payments could be at risk of facilitating money laundering activities, a US Department of State report finds.

It is only through a solid compliance system that money laundering can be fought - a not by imposing cash restrictions or demonetising high denomination notes.