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From October 7th, APP fraud reimbursement is going from voluntary to mandatory in the UK, and it’s the talk of the financial crime world. In the carousel below, you'll get a snapshot of our Taavi Tamkivi's thoughts (our CEO and Co-Founder) on what the latest data shows us, including the best way the industry can respond. 🔍 Check out the carousel below, or read the full blog by hitting the link in the comments. #AppFraud #APPScam #Fraud #FinancialCrime #FinCrime

Beating financial crime isn't just about technology — sometimes, it even involves swimming 🏊, cycling 🚴♀️, and running 🏃 With the Tallinn Ironman taking place yesterday, here's a throwback to the 2023 Salv Triathlon with Risto Pärnapuu's super slick highlight video 👇 From open waters to winding roads, we're always chasing after the bad guys. 💪 The IRONMAN Group #IronMan #Tallinn #Triathlon #FinancialCrime

As diligent fincrime teams work harder and harder, criminals seem to get smarter. The key to changing this is collaboration. We need to break down industry silos, work together, and share intelligence. Join us on September 23rd for a webinar with Skipton Building Society, Monzo Bank, Salv, and We Fight Fraud on intelligence sharing. The expert panel will discuss real stories of industry collaboration to fight crime, what the legislation says, and how mandatory reimbursement will be implemented in October. Can’t make it? Register anyway! We’ll send you the recording. Full details below 👇 #FinancialCrime #FinCrime #AML #AntiMoneyLaundering #IntelligenceSharing

Next month, Salvers Allan Walker-Merrifield and Lucy Heavens will be at The 3rd Financial Innovation Forum in London. We're excited for the RegTech and Compliance Innovation panel, with speakers including Leven Li (ANNA Money), Willem Wellinghoff (Ecommpay), and Knox Mcilwain (Airwallex) who will discuss: 🔢 the implementation of advanced analytics for detecting suspicious activities 🪪 the use of digital identity verification ♾️ continuous monitoring for AML compliance Attending? Reach out to Allan and Lucy — they would love to meet and chat all things financial crime 💪 #FinancialCrime #Fraud #FinCrime #AML #AntiMoneyLaundering #Compliance #RegTech

Screening is the first step in the fight against financial crime. But too many false positives = too much repetitive and manual work. Fincrime teams need to find a way to: 📣 Remove the noise from the screening process 🎧 Focus on the investigations that matter  (Without working longer and longer hours 😴) Salv Screening can help. It helps you: 🕵️♂️ Screen more effectively 🦾 Automate and reduce false positives ♾️ continually refine your processes Get a copy of our screening brochure here: https://lnkd.in/e42cwvYx ...Or get a quick overview below 👇 #Screening #SanctionsScreening #Sanctionscreening #KYC #KnowYourCustomer #Fraud #CTF #AML #AntiMoneyLaundering

If you were a Head of Financial Crime who was worried about mandatory reimbursement for APP fraud, how would you get on top of this challenge? Collaboration is key says Taavi Tamkivi 🔑 “Everyone can see that stolen money is moving from institution to another. I need to be able to ask my neighbour bank ‘where did the stolen money go?’ or ‘where did it come from?’” Watch the video below for more 👇 #APPFraud #MandatoryReimbursement #FinCrime #AML #AntiMoneyLaundering 

Our Chief Crime Fighter (and Co-Founder/ CEO) Taavi Tamkivi is speaking at Nordic Fintech Week in September 🎤 This is a must-see session for any fincrime fanatics attending the event. Get your tickets below and we'll see you in Copenhagen 😎

🎤 Why are smaller UK banks receiving higher rates of APP fraud than larger banks? The Payment Systems Regulator APP fraud data has been making headlines recently in publications like the Financial Times. In the video below, Taavi Tamkivi, our CEO and Co-Founder, gives his take on the data, explaining how criminals use banks in different ways during a scam. "Smaller banking firms are used to launder money away from the larger banks. That's their role in this fraud schema, and it's quite different from the large institutions." "When I'm speaking with people in the market, the large banks always call out four, maybe five, smaller financial institutions that are used as honeypots to steal money away from customers. It's these smaller firms that are seeing much higher rates of APP fraud." – Taavi Tamkivi #Fraud #APPFraud #MoneyLaundering #AML #AntiMoneyLaundering #Fintech #Compliance #PSR #FinancialTimes

"80% of your life is spent working. You want to have fun at home; why shouldn't you have fun at work?" Thanks, Richard Branson. We love fighting crime, but we certainly agree! Last week, Salvers gathered together from across Europe for our annual Summer Days celebration to catch up and play games like raft racing 🛶, volleyball 🏐, bubble football 🫧, and a dance workshop 💃. We also celebrated Salv's 6th birthday in style with the most delicious cake 🎂 Big thanks to Kaisa Pilman and Gerli Jõgi for organising such a brilliant party and to every Salver for being such an awesome team.

What do I need to know about the state of APP fraud in the UK? 🇬🇧 The Payment Systems Regulator recently released an updated Authorised Push Payment (APP) scams performance report based on data from 14 of the largest UK banking groups. Some interesting points we noticed include: ⬆️ The volume of APP scams is up 12% to 252,600 cases. 70% of these were purchase scams 🔢 The overall reimbursement rate across all banks is 67%. While this number is 6% up against 2022, the reimbursement rate shows a big range with some banks fully reimbursing customers in 96% of cases, while other banks reimbursed victims in only 3% of cases. At Salv, we've built the world's first platform that enables banks to share intelligence on fincrime investigations, so we're excited that data sharing gets a mention in the report. It says: "Innovative solutions to prevent scams are critical to strengthening the payments ecosystem. We want to support intelligence-sharing between payment firms so they can improve scam prevention in real-time, for example, stopping or delaying high-risk payments." There's lots more to unpack from the report, and we'll be bringing you more on this subject very soon. To learn more about intelligence sharing, leave a 👋 in the comments. #APPFraud #APP #Fraud #scams #PSR #PaymentSystemsRegulator #DataSharing #IntelligenceSharing #FinCrime #FinancialCrime