RESEARCH
Fraud is now considered a threat to the UK’s national security. Increased data flows for legitimate businesses have had the unintended consequence of growing the dark economy of financial crime.
We Fight Fraud gathers knowledge about crime and the causes of crime and shares it with clients and the wider community. We work closely with our academic partners on new research and create our own innovative content based on the constantly evolving threats from criminals.
Commissioned research
We conduct primary research into illegal and shadow financial practice for not for profit organisations and academic bodies.
We Fight Fraud Community
Stay aware of constantly evolving threats from criminals with our white papers and webinars. Join We Fight Fraud Community for access.
CURRENT RESEARCH
#CLICKERS: BUY NOW, PAY NEVER
This whitepaper demonstrates how a retail fraudster currently operates in the UK. In a qualitative interview, the fraudster explains how he buys 20,000 -50,000 data profiles a week from online forums. The testing team at We Fight Fraud then tested, and documented, four distinct attack vectors used by retail fraudsters to show exactly how criminals are buying now, paying never.
ANNUAL REPORT
RAPID RESPONSE: FINANCIAL CRIME
Organisations deal with emerging threats individually, with little opportunity to share knowledge and tactics for overcoming them in a quick and responsive way. This partnership with Lancaster University is a way of problem-solving new threats as they emerge; sharing key financial crime reduction and prevention techniques across multiple corporate, governmental, and not-for profit sectors.
PREVIOUS RESEARCH
COVID-19 & CRIMINAL BANKING
COVID-19 has had global implications for social life, including criminal behaviour. This whitepaper introduces a study that utilises unique access within the criminal world to offer a qualitative understanding of the human behaviours, decision making, needs and pressures that have driven engagement in fraud and financial crime during the COVID-19 Pandemic.
RAPID RESPONSE REPORTS
WFF and Lancaster University’s Law School have developed a multi-disciplinary task force to respond to emerging threats in financial crime, with detailed, actionable reports.
Incidences of fraud and financial crime have grown significantly since Covid-19. Businesses and government organisations face new challenges as criminals adapt and innovate to make the most of this multi-million criminal opportunity. Yet organisations deal with emerging threats individually, with little opportunity to share knowledge and tactics for overcoming them in a quick and responsive way. This partnership is a way of problem-solving new threats as they emerge; sharing key financial crime reduction and prevention techniques across multiple corporate, governmental, and not-for profit sectors.
In June 2022 we teamed up with APLYiD to test the vulnerabilities in biometric identification verification used by challenger banks to onboard new customers. In this report, the testing team demonstrate the vulnerabilities in the KYC process that criminals utilise to open bank accounts; potentially facilitating money laundering and terrorist financing. This is a must read for everyone in financial services.
Rapid Response Reports
#CRIME - WHITEPAPER
#CRIME: HOW COVID-19 FORCED CRIMINAL COMMERCE INTO THE DIGITAL BANKING AGE
COVID-19 has had global implications for social life, including criminal behaviour. The increase in the illicit economy, including drugs and sexual services, has supported an unprecedented growth in fraud and financial crime. This whitepaper introduces a study that utilises unique access within the criminal world to offer a qualitative understanding of the human behaviours, decision making, needs and pressures that have driven engagement in fraud and financial crime during the COVID-19 Pandemic.
Producing two significant findings, this whitepaper details the motivations for individuals seeking illicit products and services using social media networks to engage with criminal elements. Social media has opened the criminal world to clients that would normally struggle to access illicit products due to lack of knowledge or connection to the criminal world. This engagement with the digital world has meant that criminals are increasingly accepting payments via bank transfer. This study highlights how ‘everyday’ low-level criminal commerce is now entering the legitimate financial services sector through multiple small denomination bank transfers. The mixture of social media activity and increased use of bank transfers to facilitate criminal behaviour has meant that COVID-19has played a significant role in pushing criminal commerce into the digital banking age.