News

Insights and company news

Cybercrime is low risk, low investment, and high return. Not surprisingly, illegal financial gain is one of the biggest reasons for cyber-attacks. The result is a predicted USD 10 Trillion of damages by 2025. Our vision is to change that.

CYBERA Announces Integration with Blockchain Data Platform Chainalysis, Delivering Richer Scam Intelligence to Government Agencies and Compliance Teams

[New York, NY] February 5, 2024: CYBERA, a leading provider of advanced reporting and prevention tools to combat scams and fraud, today announced an integration with Chainalysis, the blockchain data platform. CYBERA WATCHLIST™, an AI-driven global dataset that detects and prevents cyber-related financial crime, including scams, is now integrated with Chainalysis investigation solutions and data […]

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The UK PSR’s New Reimbursement Requirements – what PSP’s need to know and how CYBERA can help

In mid-December, just before Christmas the Payments Systems Regulator (PSR) gave UK banking customers an early Christmas present, by confirming the enforcement date for the its new Reimbursement Requirement. This requirement is for paying PSPs, subject to exemptions and rules, to refund victims of APP frauds using Faster Payments 100% of their losses. The beneficiary […]

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2024 Fraud Predictions and a Review of 2023

Another busy year here at CYBERA and globally for fraud. As is traditional at this time of year, lets look at how our predictions from a year ago worked out: 1. Continued authorised frauds at similar or increasing levels. I think I go that fairly obvious one. UK losses are essentially flat, and countries everywhere […]

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UK Finance 2023 Half Year Fraud Update – Continuing positive signs in the battle against fraud and scams

It often feels like doom and gloom when talking about fraud, but the latest fraud figures from UK Finance show there is some light in the fight against fraud and scams. In this blog, I’ll give an overview of the numbers concentrating on remote payments and APP frauds as well as the recent UK Government […]

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CYBERA, CEX.IO Partnership Reaches Milestone in Fraud Prevention and Crypto Asset Recovery 

The collaboration’s proactive and reactive measures have assisted over 100 users in documenting fraud, and liaising with law enforcement to better secure the crypto ecosystem. [New York, NY] December 5, 2023 CYBERA Global Inc. a leading provider of advanced reporting and prevention tools to combat scams and fraud today announced the success of their partnership […]

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FCA Multi-Firm Review of APP Fraud – What does it mean for you firm? 

The Financial Conduct Authority (FCA) has just completed a multi-firm review of fraud prevention controls and complaints handling, focused on APP fraud.  The review has happened as the UKs APP problem is still large, with Authorised Push Payment Fraud (APP) losses of £239.3m for H1 2023 vs. £241.9 down 1% in H1 2022. However, case […]

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Can increased data sharing help stop the abuse of Europe’s payment innovation? 

Europol recently published a report into economic crime in Europe, detailing how organised criminal gangs (OCGs) are abusing the financial services ecosystem and its recent innovations. Agreeing with the recent Moneyval report, this Europol report also highlights that asset seizures are too low, at under 2% of proceeds of crime. What are the key points […]

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Economic Crime and Corporate Transparency Bill – Improved Regulatory Data Sharing in the UK 

The UK is clearly on roll in terms of new legislation to tackle economic crime, whether fraud and scams, terrorist financing or money laundering. Another new bill, the Economic Crime and Corporate Transparency Bill, is aimed at helping reduce economic crimes, i.e., fraud and money laundering, is passing through the legislative process now.  Whilst in […]

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UKs Authorised Fraud Scams Reimbursement – further updates 

The Financial Services and Markets Act 2023 now has its Royal Assent and is therefore law in the UK. Part of this places requirements on the PSR to mandate reimbursement on Payments forms for APP in certain situations.  On the back of last year’s consultation, there is now have the proposals as I covered here. […]

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Brazil announces Drex CBDC: CBDC’s what are the fraud risks and what to do about them? 

Central Bank Digital Currencies (CBDCs) are gathering pace across the globe. There has been recent proposed legislation in the EU, pilots in the UK and elsewhere and the recent announcement from Brazil about DREX. This blog will cover what a CBDC is at a high level, the key fraud risks and how CYBERA can help […]

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Advocating Against Romance Scammers (AARS) and CYBERA announce a partnership to help victims of scams 

CYBERA, a leading provider of advanced reporting and prevention tools to combat scams and fraud today announced a partnership with Advocating Against Romance Scammers (AARS) a non-profit increasing awareness of romance scams to increase prevention.  As romance scams totaled $735m in 2022*, not including some of the financial grooming that will fall into the investment […]

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MONEYVAL 2022 Report: Increased prosecution and seizing the proceeds of financial crime -Increased data sharing is the answer 

The Committee of Experts on the Evaluation of Anti-Money Laundering (AML) Measures and the Financing of Terrorism (MONEYVAL) 2022 report makes for interesting reading.  While there are some elements focusing on improvements over the last couple of years, it is actually the areas that are trailing that are the most interesting.  The report highlights that […]

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