Banking fraud expert: interview with Ramy Ahmed from Finovox 

For the summer period, our 'Fraud Hunters' podcast puts the spotlight on the experts at Finovox. For this first episode, we were delighted to welcome Ramy Ahmed, an expert in document fraud in the banking sector, to discuss the current challenges and solutions in this sector.

A career focused on financial expertise 

Ramy Ahmed, an expert in banking fraud, joined Finovox after a career as a finance consultant, where he helped various players resolve organisational problems and implement IT solutions. Seduced by the Finovox project, he is now contributing his expertise in the fight against banking fraud.

Understanding document fraud

According to a recent study by Finovox, 65% of companies surveyed are faced with document fraudwhile 60% report behavioural fraud. 

Ramy explains the distinction between these two types of fraud: behavioural fraud analyses customer actionsThese include the frequency of transactions and changes in information. Document fraud, on the other hand, focuses on the falsification of documents such as identity documents, bank statements or proof of address.

Analysing falsified documents

In this interview, Ramy highlights the types of coins most frequently defrauded: according to the Ministry of the Interior, the identity documents represent between 4 and 6 % of false documents in circulation. 

Bank statements and proof of address are also commonly counterfeited. 

What are the legal obligations relating to bank fraud? 

Entities regulated by theACPR (Autorité de Contrôle Prudentiel et de Régulation) or theAMF (Autorité des Marchés Financiers) must put in place rigorous controls to combat money laundering and the financing of terrorism. 

The penalties for failing to check can be severe, as numerous cases in the specialist press have shown.

In particular, Ramy advises banks to combine human and technological resources to combat fraud effectively. This is what sets Finovox apart: in addition to providing a solution, the solution offers ongoing support to ensure compliance and the effectiveness of controls. 

Would you like to find out more about document fraud in the banking sector? Listen to Ramy's exclusive interview!