For the summer period, our “Fraud Hunters” podcast highlights Finovox experts. For this first episode, we were pleased to welcome Ramy Ahmed, an expert in documentary fraud in the banking sector, to discuss current challenges and solutions in this sector.
Ramy Ahmed, an expert in bank fraud, joined Finovox after a career as a financial consultant, where he helped various actors solve organizational problems and implement IT solutions. Seduced by the Finovox project, he is now bringing his expertise in the fight against bank fraud.
According to a recent study conducted by Finovox, 65% of the companies surveyed are confronted with document fraud, while 60% report behavioral fraud.
Ramy explains the distinction between these two types of fraud: behavioral fraud analyzes customer actions, such as the frequency of transactions or changes in information. On the other hand, documentary fraud focuses on the fForgery of documents such as identity documents, bank statements or proof of address.
In this interview, Ramy highlights the most fraudulent types of coins: according to the Ministry of the Interior, identity documents represent between 4 and 6% of false documents in circulation.
Bank statements and proof of address are also commonly counterfeited.
Entities regulated by theACPR (Prudential Control and Regulatory Authority) or theAMF (Autorité des Marches Financiers) must put in place rigorous control systems to combat money laundering and the financing of terrorism.
Penalties for lack of control can be severe, as evidenced by numerous cases in the specialized press.
In particular, Ramy advises banking institutions to combine human and technological resources to fight effectively against fraud. This is what sets Finovox apart: beyond providing a solution, the solution offers continuous support to ensure compliance and the effectiveness of controls.
Do you want to learn more about document fraud in the banking sector? Listen to Ramy's exclusive interview!
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