Fraud Intelligence Sharing

National & Global Fraud Intelligence sharing – 5th Interim EAST Meeting

The fifth Interim Meeting of EAST National and Global Members took place on Wednesday 6th October 2021. Due to the Covid-19 situation, it was conducted as a virtual meeting. The meeting was chaired by Veronica Borgogna from AXEPTA BNP Paribas.  The key focus was on the sharing of global, regional, and national, payment and terminal fraud intelligence.

Law enforcement overviews were provided by Europol, the Gulf Cooperation Council Police (GCCPOL), the United States Secret Service (USSS) and INTERPOL.  Two presentations were made by Europol: one from the European Cybercrime Centre (EC3) covered recent successful cross-border operations; the other covered Physical ATM attacks across Europe.  The GCCPOL presentation covered payment and fraud issues seen by their 6 member countries focussing on Technological Fraud (crimes committed using different forms/types of machines and technology) and Non-Technological Fraud (conducted directly against the victim). The USSS presentation covered Covid-19 pandemic relief fraud and the INTERPOL presentation covered recent issues relating to financial crimes in the LATAM region.

Private sector fraud intelligence updates were received from 28 countries, either directly or via regional/global updates by Citi, HSBC and Worldline.  Regional Updates were also provided for ASP, MENA and LATAM. Each update covered Fraud Types, Fraud Origin, Due Diligence and Physical Attacks (ATM, ATS and CIT).  The importance of raising consumer awareness to counter the rising threats related to social engineering remains a key issue.

EAST Fraud Update 3-2021 will be produced early next month, based on the country updates provided at the Interim EAST Meeting.  EAST Fraud, Payment and Physical Attack Updates are available on the EAST Intranet to EAST Members.

The next meeting of this group, scheduled for 9th February 2022, will hopefully be the 1st EAST Global Congress, which is planned as Hybrid Meeting.  This is dependant on the prevailing status of the Covid-19 pandemic and the meeting will revert to a virtual Interim Meeting if required.

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