Fraud

How Can Banks Improve Fraud Protection for SMB Clients?
Banking How Can Banks Improve Fraud Protection for SMB Clients?

The rise in fraud targeting small and medium businesses (SMBs) has highlighted the urgent need for banks to enhance their fraud protection mechanisms. Traditional approaches, primarily designed for individual consumers or large enterprises, fall short of addressing the unique challenges faced by

Is Open Banking in the UK Ready for Widespread Adoption?
Trends & Future Is Open Banking in the UK Ready for Widespread Adoption?

Open Banking, introduced in the UK in 2018, has been a pioneering force in the financial sector, spearheading the movement towards greater transparency, competition, and innovation. This initiative has not only garnered attention within the UK but has also inspired similar ventures globally, each

Is Sterling Bank Involved in Money Laundering and Financial Fraud?
Regulatory & Compliance Is Sterling Bank Involved in Money Laundering and Financial Fraud?

The article delves into the serious allegations against Sterling Bank Limited and its holding company, Sterling Financial Holdings Company, by Nigerian authorities. The Nigeria Police Force has charged these entities with money laundering, fraudulent deductions, and other financial malpractices.

SRA Issues Guidance to Law Firms on Preventing Sham Litigation
Regulatory & Compliance SRA Issues Guidance to Law Firms on Preventing Sham Litigation

The Solicitors Regulation Authority (SRA) has recently issued crucial guidance urging law firms to take robust measures to protect themselves from sham litigation, a deceptive scheme used by criminals to bypass anti-money laundering (AML) regulations. Sham litigation involves fabricating legal

House Probes Sterling Bank for Money Laundering and Financial Irregularities
Regulatory & Compliance House Probes Sterling Bank for Money Laundering and Financial Irregularities

The House of Representatives Committee has launched an extensive investigation into Sterling Bank following allegations of money laundering, unauthorized deductions, and other financial irregularities. The probe, which also implicates the Central Bank of Nigeria (CBN) and Shell Petroleum, was

Sterling Bank Faces $28 Million Fraud and Money Laundering Allegations
Regulatory & Compliance Sterling Bank Faces $28 Million Fraud and Money Laundering Allegations

Sterling Bank Limited has found itself embroiled in a controversy as serious allegations of money laundering and fraud involving $28.3 million have come to light. These allegations were brought forward by Miden Systems Ltd and its director, Dr. Brendan Innocent Usoro. The case began gaining

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