7 months ago

Online Fraud Detection on How and why people commit efraud

Online Fraud Detection on How and why people commit efraud

Pressure, opportunity and rationalization form the fraud triangle, which information technology security experts now believe are reasons why people commit electronic fraud.


Also, the people factor in e-payment fraud is increasing, with greed said to be responsible for 67% of fraud cases in 2015, while other causes included problems from debts and gambling, according to Dele Adeyinka, chief digital officer, Wema Bank Plc.


In a presentation, at 7th annual payment systems & fraud conference held in Lagos recently, Adeyinka, said that explanation behind fraud needs to take account of various factors, particularly, from the fraudster’s perspective.


He cautioned that individuals, financial institutions, other corporate bodies and the Government, must take serious the motivation of potential offenders; conditions under which people can rationalize their prospective crimes away and opportunities to commit crime(s); technical ability of the fraudster and expected and actual risk of discovery after the fraud has been carried out, as practical steps to nib in the bud e-payment frauds.


“A common model that brings together a number of the reasons why people commit fraud is the Fraud Triangle. This model is built on the premise that fraud is likely to result from a combination of three factors: perceived pressure; opportunity and rationalization.


“Perceived Pressure: typically based on either greed or need. Greed is said to be responsible for 67% of fraud cases in 2015. Other causes included problems from debts and gambling.


“Opportunity: Fraud is more likely in companies where there is a weak internal control system, poor security over company property, little fear of exposure and likelihood of detection, or unclear policies with regard to acceptable behaviour. Research has shown that some employees are totally honest, some are totally dishonest, but that many are swayed by opportunity. Rationalization: Some people may be able to rationalize fraudulent actions as: necessary– especially when done for the business; harmless –because the victim is large enough to absorb the impact and justified- because ‘the victim deserved it’ or ‘because I was mistreated,’” he said.


Also speaking, Kyari Bukar managing director of CSCS, highlighted the need for the industry to take a closer look at the block chain Technology, Internet of Things (IoTs) and big Data analysis.


He averred that the future of payment lies in harnessing the benefits these latest technologies bring, especially in the fight against fraud.


Speakers at the conference which had over 200 high level participation from top industry experts and public sector including the Nigerian Naval Force, FRSC, members of CeBIH, ISSAN, CCCOBIN, E-PPAN, commercial banks, E-payment providers, media houses, IT organizations, research firms, academia, audit firms, mobile payment service providers, government agencies, etc, agreed that to tackle e-payment fraud, emphasis must be on the ‘people, process and technology’.

10 months ago

Ina Olsson to Join BGC Partners Limited Tokyo to Drive Scandinavian Growth

New York and London, June 27, 2016  BGC Partners, Inc. (NASDAQ:  BGCP) (“BGC Partners,” “BGC” or “the Company”), a leading global brokerage company servicing the financial and real estate markets, today announced that one of the leading brokers in the Scandinavian markets Ann Kristina Olsson, known as “Ina”, will be appointed to lead BGC Partners’ Scandinavian swaps and bonds broking team, pending legal requirements.


Ina will be based in Nyon, Switzerland and will report to Jean-Pierre Aubin, Executive Managing Director, Global Head of Listed Products and General Manager of Continental Europe.


In this role, Ina will be responsible for managing BGC’s existing Scandinavian swaps and bonds business, as well as for advancing BGC’s strategic expansion into the Scandinavian markets. As an advocate of hybrid broking, Ina will make the most of BGC’s market-leading approach to technology in order to deliver innovation to clients.


Ina formerly served as Head of Scandinavian Products for Gottex Brokers from 2010 to 2016 and previously worked at ICAP in London.


Shaun D. Lynn, President of BGC, said: “BGC Partners is a company where talent and technology go hand in hand to help us deliver the best possible service to our clients. Bringing the best people into the business is critical to our future, and I’m confident that Ina will be a valuable addition to the team.”


Jean-Pierre Aubin said: “Over the past few years, BGC has strengthened our position across all markets by recruiting the most talented people, and Ina’s addition to the Company fits squarely within this approach.  She’s bright, focused and her experience gives her a unique perspective, which will enable us to further provide added value to our clients.”


Anthony Warner, General Manager of BGC Partners, London said “Ina joins BGC with an impressive track record in markets that are extremely important across the entire Scandinavian product suite. We are delighted that Ina has chosen to join BGC Partners. Her addition to the team will advance our ambitious plans to further grow our hybrid business in this important region for BGC.”


Press Contact:  

Investor Relations Contacts:

Sarah Lukashok


Jason McGruder





Jason Chryssicas



(212) 915-1987

11 months ago

International Financial Securities Regulatory Commission: Rules and Guidance

International Financial Securities Regulatory Commission: Rules and Guidance

As part of its mandate to protect investors and promote market integrity, FINRA enacts rules and publishes guidance in its role as regulator of securities firms and brokers. FINRA involves the securities industry, the Securities and Exchange Commission (SEC) and other regulators, as well as investors, in its rulemaking deliberations.



A consolidated FINRA rulebook containing only FINRA rules is being established. Until this is completed the current rulebook is in effect.


Rulemaking Process

FINRA develops new rules, modifies existing rules, and provides guidance governing the conduct of firms and their associated persons.



FINRA publishes various Notices (e.g., Regulatory Notices, Trade Reporting Notices and Election Notices) on many issues affecting firms.


Rule Filings

See a list of FINRA rule filings and approval orders by year, including a comprehensive Rule Filing Status Report


Requests for Comments

For most significant rule proposals, FINRA solicits public comments through Regulatory Notices prior to submitting them to the SEC



In addition to Notices, FINRA provides guidance to firms by regularly distributing letters, alerts, rule interpretations, reports and more.


The International Financial Securities Regulatory Commission was established to promote investor confidence in the securities and capital markets by providing more structure and government oversight.

2 years ago

IHI Enviro Corporation Tokyo Japan on Research & Development

Make Dream a Real Asset


Hallucinatory experience caused during sleep, imagination without chance of realizing, vaporous things, nectarous state detached from the reality, wish hoping to realize in the future ... (Daijirin dictionary)

Make Dream a Real Asset. To make the "Dream" as a Real Asset, and to leave it to the next generations, we will challenge with all we have.

Energy and Environment

Secure the energy, and use it clean

-Energy and environmental technologies, which decrease environmental loads, are drawing more attentions world-wide in recent years.

-On the other hand, diversification of energy resource is required to maintain the social life while covering the active energy requirements of the developing countries.

-IHI is participating in technical development in various approaches for reduction, evaluation, capture, storage and monitoring of emission of CO2, protecting Earth from global warming but still maintaining the cultural life.

• High Performance Turbo Machinery

• Reciprocating Engine Technology

• CO2 Separation and Recovery Technology

• CO2 Leakage Observation

• Coal Gasification Technology

Security and Safety

Providing "security and safety" to your life

-IHI is developing nondestructive inspection and residual life evaluation technology necessary to use the bridges and plants with reassurance.

-We are also stepping forward into the security, bio and medical fields.

• Residual Life Evaluation Technology for Boiler Plumbing

• 3D Laser Radar

• Industrial Robotics Technology

• Biotechnology-Based Medicine Production Plant

• Ultrasonic Flaw Detection Technology

Monozukuri (Manufacturing)

Manufacturing technology supporting the IHI products

-IHI has consistent manufacturing technology utilizing numerical simulation from the designing to manufacturing.

-We realized high added values such as high performance, high reliability, high quality, low cost, low environment load.

• Analytical Prediction and Evaluation Technology of Fluid and Heat Flow

• Understanding of Impact Destruction Phenomena

• Fabrication Process Simulation

• Laser-Arc Hybrid Welding Technology

2 years ago

NeXT Career Consulting Group, Asia, Singapore - Job Search Support Program

Targeted Audience:

* Professionals who are in active job search mode

* Professionals who have lost their jobs

* Expatriate professionals who are returning to their home country and whose current employer do not have an appropriate role for them

* Trailing Spouse

If you are keen to discuss further, give us a ring at Tel (65) 6323 6626 or e-mail clementong@nextcareer.net to set up a non-obligatory exploratory meeting.

Interview Skills Coaching

Targeted Audience:

* Professionals who are in active job search mode

If you are keen to explore further, e-mail paulheng@nextcareer.net

2 years ago

Breen & Associates Financial Investigations and Risk Management on Due Diligence

Breen & Associates provides clients contemplating all business transactions with the critical intelligence needed to best evaluate advantages, risks, and potential compliance requirements.

Our objective, third-party intelligence is necessary for leveraging advantage, verifying claims of bona fides, while advising on any legal entanglements that may affect the transaction, immediately or in the future.

With years of experience in corporate markets as diverse as energy, finance, consumer products, communications, and much more, Breen and Associates provides the most thorough Due Diligence process in the industry. The results of our experience have provided support to some of the largest corporations and law firms in the world.