UNCRATE THE TRADITIONAL BANK: Building the Model Bank in Today’s Digital World

Fraud involving cryptocurrencies has soared in 2021. More than 14,000 illicit investment schemes were reported to the FTC in the first quarter of 2021, with victims losing $215 million in this quarter alone. In this complimentary webcast, Michael B. Cohen, MyChargeBack VP of Global Operations, joined by Reuben Eliaz, MyChargeBack Director of Media Relations, explore how cryptocurrencies are used to perpetrate fraud schemes and what regulators, domestic and foreign, are doing to reduce the risk associated with these cases.

It is now more crucial for mid-market organizations than ever before to improve credit risk management, increase earnings, and improve efficiency in 2022 and beyond. Furthermore, mid-market and SMB organizations with minimal cash reserves and erratic cash flow are most susceptible when the world returns to normalcy. We’ll discuss the factors including lack of transparency that impacts business to assess the creditworthiness of their buyers, ultimately affecting cash flow. We’ll cover all such factors and stress how the manual credit risk assessment method for mid-market enterprises has become more error-prone and unstructured due to these variables.

Synthetic identity fraud continues to develop into the fastest-growing type of financial crime in the US, with fraudsters gaining access to more sensitive information than ever before to create these manipulated IDs. How can you detect them faster? Through a multilayered defense that utilizes high-quality, real-time alternative data.

This is the third episode in the Elliptic Financial Regulator Crypto & Coffee Series. Clara Chiu, Director of Licensing & Head of Fintech Unit at The Securities and Futures Commission (SFC) of Hong Kong, and David Carlisle, Head of Policy and Regulatory Affairs at Elliptic, discuss the virtual assets regulation development