Latest news with #intelligencesharing
Finextra
3 days ago
- Business
- Finextra
We Fight Fraud adopts Salv Bridge to share real-time scam intelligence with banks
We Fight Fraud (WFF), a specialist financial and cyber crime consultancy, has selected European Regtech scale-up Salv to share intelligence with financial institutions across Europe. 0 We Fight Fraud regularly carries out research that reconstructs the tactics used by criminals to commit financial scams. These initiatives aim to uncover vulnerabilities so banks and fintechs can better protect their customers. During these exercises, WFF discovers fraudulent and money mule accounts. Until now, they've lacked a fast, secure way to share this intelligence. Using Salv Bridge, We Fight Fraud can now deliver that intelligence instantly through a compliant, secure, and structured messaging platform purpose-built for collaborative financial crime investigations. Over 100 banks, fintechs and PSPs across Europe use Salv Bridge to share intelligence for authorised push payment (APP) fraud recovery, collaborative AML investigations, automated RFIs, and suspicious IBANs. Alerts exchanged through Salv Bridge have a true positive rate of over 90%, and companies see recovery rates of stolen funds as high as 80% 'Speed is everything when we uncover criminal accounts or active scams,' said Dr. Nicola Harding, CEO at We Fight Fraud. 'Salv Bridge gives us an easy way to share vital signals in the moment. It means our insights reach the right hands faster, enabling quicker interventions and stronger protection for customers. That's the difference we're here to make.' 'Intelligence sharing is no longer a theory. It's happening,' said Taavi Tamkivi, Co-founder and CEO at Salv. 'Hundreds of financial institutions and national associations are now taking it seriously. Any party that uncovers vital crime signals needs a fast, secure way to share them across borders and sectors. Salv Bridge is that channel. Built to the highest privacy and security standards, organisations can finally move faster than the criminals.'
Zawya
4 days ago
- Business
- Zawya
Microsoft offers to boost European governments' cybersecurity for free
Microsoft is offering free of charge to European governments a cybersecurity programme, launched on Wednesday, to bolster their defences against cyber threats, including those enhanced by artificial intelligence, it said. After a surge in cyberattacks in Europe, many linked to state-sponsored actors from China, Iran, North Korea and Russia, the programme aims to boost intelligence-sharing on AI-based threats and help to prevent and disrupt attacks. "If we can bring more to Europe of what we have developed in the United States, that will strengthen cybersecurity protection for more European institutions," Microsoft President Brad Smith told Reuters in an interview. "You're going to see other things we are doing later in the month." Increasingly, attackers employ generative AI to amplify the scale and impact of their operations that range from disrupting critical infrastructure to spreading disinformation. Although malicious actors have weaponised AI, Smith said AI also offered defensive tools. "We don't feel that we have seen AI that has evaded our ability to detect the use of AI or the threats more broadly," Smith said. "Our goal needs to be to keep AI advancing as a defensive tool faster than it advances as an offensive weapon," he said. Microsoft tracks any malicious use of AI models it releases and prevents known cybercriminals from using its AI products. AI-driven deepfakes have included a portrayal of Ukrainian President Volodymyr Zelenskiy capitulating to Russian demands in 2022 and a fake audio recording in 2023 that influenced the Slovakian election. Smith said so far audio had been easier to fake than video. (Reporting by Supantha Mukherjee in Stockholm; editing by Barbara Lewis)
