Latest news with #TheKnoble
Techday NZ
16-05-2025
- Business
- Techday NZ
BioCatch & The Knoble launch toolkit to bolster scam defences
BioCatch and The Knoble have introduced a new toolkit to help financial institutions build a business case for scam prevention measures. The initiative includes a comprehensive resource package called "Measuring the Impact of Authorised Push Payment Scams: A Practical Framework for Financial Institutions." This package provides tools such as a cost-justification calculator, a practical guide for fraud and risk teams, and a presentation deck to assist executives in securing funding for scam-control strategies. The toolkit is designed to assist banks and other financial institutions in quantifying the true financial impact of scams, enabling them to demonstrate the return on investment for proactive scam prevention controls, as well as highlighting the ethical necessity. Emma Campbell, Director of Program Delivery, said, "Scams are not isolated financial crimes; they are deeply connected to human exploitation. Financial institutions play a critical role in disrupting human crime, and this toolkit gives them the tools to build the business case and take action." The increasing sophistication of scams has made them more than just isolated events. Organised criminal groups are often involved in wider criminal activities, including human trafficking and elder exploitation. This connection has added urgency for financial institutions to adopt more robust anti-scam measures. The toolkit draws upon financial data, global benchmarks, and real-world case studies to show how targeted investment in scam prevention can lead to cost savings, improved customer trust, and a reduction in long-term financial risks. The included cost calculator enables stakeholders to quantify scam-related losses, while the practical guide provides instructions for its use. The presentation deck is intended to support fraud leaders in advocating for funding in discussions with senior management. Seth Ruden, BioCatch Senior Global Advisory Director, commented, "Scammers today aren't only lone-wolf, individual operators. Increasingly, scams originate from industrialised complexes staffed in large part by trafficked peoples. The transnational criminal operations behind these scam camps employ a crime-as-a-service business model and harness GenAI-powered tools to improve both the sophistication and success of their attacks. Financial institutions deserve equally sophisticated scam controls. Delaying a proactive response only guarantees a future built on reactive defences." To support adoption of the business case toolkit, BioCatch and The Knoble will hold a webinar to review the toolkit's features, demonstrate the use of the cost calculator, and discuss key strategic considerations for implementing scam control measures following executive buy-in. The toolkit is available exclusively to members through The Knoble's member resource library. BioCatch applies behavioural analytics to monitor digital interactions with banking platforms, helping distinguish legitimate users from criminals by analysing patterns in device use and behaviour. The company works with clients from major global banks and financial institutions to improve fraud detection. The Knoble is a non-profit organisation established in 2019 that unites professionals from financial institutions, law enforcement, regulators, and NGOs to combat human crime, including scams, trafficking, child exploitation, and elder abuse.
Finextra
15-05-2025
- Business
- Finextra
BioCatch and The Knoble co-launch anti-scam guide and cost calculator
Financial scams are on the rise globally, resulting in billions in financial losses for both financial institutions and the individual consumers they serve. 0 The Knoble, a coalition of financial service professionals, law enforcement, regulators, and non-profit organisations dedicated to combating human crime, and BioCatch, which prevents financial crime by recognising patterns in human behaviour, are pleased to announce the release of a scams control business case: 'Measuring the Impact of Authorised Push Payment Scams: A Practical Framework for Financial Institutions.' This powerful resource package, comprised of a cost-justification calculator, a practical guide, and a strategic presentation, aims to equip financial institutions with the tools they need to build a compelling business case for proactively investing in scam-prevention controls. The initiative was developed with one goal in mind: To help banks articulate not only the ethical imperative of scam control programs but also their return on investment. 'Scams are not isolated financial crimes; they are deeply connected to human exploitation,' said Emma Campbell, Director of Program Delivery. 'Financial institutions play a critical role in disrupting human crime, and this toolkit gives them the tools to build the business case and take action.' Scams have evolved beyond isolated incidents, as organised criminal groups intertwine their scamming operations with human trafficking, elder exploitation, and a variety of other crimes. This comprehensive business case toolkit draws upon financial trends, global benchmarks, and case studies to illustrate how investing in scam prevention can yield substantial cost savings, foster customer trust, and mitigate the potential for long-term financial losses. The cost calculator helps stakeholders quantify the impact of scam losses. The accompanying guide offers clear instructions on using the calculator, while the presentation deck helps fraud leaders advocate for strategic scam control funding across the C-suite. 'Scammers today aren't only lone-wolf, individual operators,' BioCatch Senior Global Advisory Director Seth Ruden said. 'Increasingly, scams originate from industrialised complexes staffed in large part by trafficked peoples. The transnational criminal operations behind these scam camps employ a crime-as-a-service business model and harness GenAI-powered tools to improve both the sophistication and success of their attacks. Financial institutions deserve equally sophisticated scam controls. Delaying a proactive response only guarantees a future built on reactive defences.' To support the rollout of this business case, The Knoble and BioCatch will co-host an exclusive webinar on June 5, 2025, at noon ET: 'Justifying the Investment: The Business Case for Scam Controls.' The session will unpack the contents of the toolkit, walk through the calculator, and highlight key scam control strategies that become possible once buy-in is secured. The full resource package is available exclusively to members through the Knoble Network Member Center Resource Library. Not yet a member? Visit to join and gain access to this and other critical tools.
