Year
27/07/2009
Transaction fraud: a holistic view in the light of new European legislation
The prevention and management of transaction fraud has been the subject of particular attention in the months leading up to the enforcement of the European Parliament Directive 2007/64/EC. The Directive, commonly known as the Payment Services Directive (PSD), establishes regulations related to the transparency of conditions and information requirements for payment services, and identifies the rights and obligations of payment service users and providers. EU Member States must comply with the legislation by 1 November 2009.
These subjects are central to the so-called “War on Cash”, which aims to gain significant savings in the public spending of European countries through the diffusion of electronic payments and the consequent progressive reduction in the volume of cash in circulation. This issue comes at a time when attacks on the system by organized criminals, which are becoming fiercer and more technologically advanced, have brought fraud to the forefront.
03/06/2009
Identity fraud. Troubled times as a hidden opportunity
Fraudsters have declared the start of the hunting season on bank funds. While methods vary, the most common usually involves fully or partially stolen identities or the creation of fictitious identities to mislead institutions and allow the fraudster to ride off with the stolen funds in his Haversack.
In October 2008, the FBI brought down one of the world’s biggest online “how to commit fraud” forums, DarkMarket, operated on an invitation only membership basis and with approximately 2,500 registered members. Its administrators managed to operate for more than 3 years.
05/05/2009
Poland: Conference "Confidence Crash vs. Economic Crash"
 |
The conference was co-organized by CRIF and KRD, one of the biggest economic information bureaus in Poland, and focused on finding reasons behind the present global economic crash.
Speeches from Prof. D.Filar, a member of the Monetary Policy Council NBP, Dr Ryszard Petru (Warsaw School of Economics), a former economic advisor to BRE Bank, and Mr. Adam Gwiazdowski, an expert from the Adam Smith Center in Poland gave a snapshot of the global crisis, its impact on the Polish economy, and future trends.
The presence of KRD and CRIF professionals was also an occasion to discuss the optimization of debt collection management.
Many managers from risk and debt collection departments of financial institutions were present at the event including: PEKAO S.A., DnB Nord S.A., car loan lenders Fiat Bank S.A., KBC Autolease Polska, ING Mortgage Bank S.A., SEB Commercial Finance S.A., and RAIFFEISEN LEASING POLSKA S.A.
|
04/04/2009
Consumer Credit Directive and financial sustainability
The new European Community directive on credit agreements for consumers (CCD – Consumer Credit Directive) approved by the European Council, represents a new and important challenge for consumers and financial institutions. The directive introduces some important principles based on “responsible lending”. On the one hand, the CCD places greater emphasis on consumer protection by imposing a number of new and more stringent duties on lenders.
17/02/2009
CreditFlow Java version now available
 |
CreditFlow, CRIF Decision Solutions’ flexible and innovative Business Process Management Suite, used to streamline business processes like customer acquisition, is now available on the Java platform. The new CreditFlow Java is a strategic evolution of the product line bringing the capability of being targeted for multiple platform environments. It allows CreditFlow processes to run on most commercial application servers. |