How to add predictive analytics into your risk program. Risk reports are often limited to historical insights and issues and do not provide guidance and insights into the future of the organization. Adding predictive analytics can allow your organization to detect emerging risks and create mitigation plans. This can be achieved by combining internal and external key risk indicators (KRIs) and key performance indicators (KPIs) with regulatory intelligence. This ensures that risk reports can detect more issues and highlight areas of concern. Click here to learn more.
Efforts to stop international business email schemes
The FBI has posted the results of Operation reWired, a months-long, multi-agency effort to disrupt and dismantle international business email compromise (BEC) schemes. These sophisticated cyber-enabled scams often target employees with access to company finances and—using methods like social engineering and computer intrusions—trick them into making wire transfers to bank accounts thought to belong to trusted partners. The accounts are actually controlled by the criminals.
Operation reWired resulted in 281 arrests, including 74 in the United States. Arrests were also made in Nigeria, Turkey, Ghana, France, Italy, Japan, Kenya, Malaysia, and the United Kingdom. The sweep resulted in the seizure of nearly $3.7 million and the disruption and recovery of approximately $118 million in fraudulent wire transfers.