National & Global Fraud Intelligence – 5th EAST Global Congress

The 5th EAST Global Congress took place on Wednesday 11th October 2023 at ING Bank in Amsterdam as a hybrid meeting, with some delegates participating online.

The meeting was chaired by Veronica Borgogna from Worldline.  The key focus was on the sharing of payment and terminal fraud intelligence (global, regional, national).

Law enforcement overviews were provided by Europol and the Gulf Cooperation Council Police.  Private sector fraud intelligence updates were received from 26 countries, either directly or via regional/global updates by BNP Paribas, HSBC, and Worldline.  Regional updates were also provided for ASP and MENA.  Each update covered Fraud Types, Fraud Origin, Due Diligence and Physical Attacks (ATM, ATS and CIT).

Social engineering of victims by organised criminals remains a major concern across all the countries and it was noted that non-banking fraud is a rising issue.  Updates were given on Active Shimmer (Wedge) / Relay attacks, a continuing threat in several countries.

Updates from the three EAST Expert Groups were given:

EAST Fraud Update 3-2023 will be produced early next month, based on the country updates provided at the EAST Global Congress.  EAST Fraud, Payment, and Physical Attack Alerts are available on the EAST Intranet to EAST Members.

The 6th EAST Global Congress, scheduled for 7th February 2024, will also be held as a Hybrid Meeting.

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