The Intelligence Download: Recent Episodes
BAE Systems Digital Intelligence
The Intelligence Download features special guest interviews from experts in industry, Government and law enforcement and addresses the hottest topics in cyber security.
In this edition of The Intelligence Download, Dr. Adrian Nish, Head of Cyber, discusses the Rise of Ransomware. Over the past 18 months, the BAE Systems Applied Intelligence threat intelligence team has been monitoring the state of ransomware. In this podcast, Nish discloses what has been learned and where we go from here.
https://www.baesystems.com/en/cybersecurity/capability/cyber-security-services
In this episode of The Intelligence Download, we talk with Nicola Eschenburg, the FinCrime Testing Service venture lead from our Futures Team, about Human Trafficking for Labour Exploitation. Organised Criminal Groups recruit victims from abroad, put them to work and control the bank accounts where they are paid, funnelling proceeds into their own pockets. This can take place on a massive scale, happen right before our eyes and be prevalent in industries we all directly benefit from.
In this podcast, we discuss the scale of the problem, the recruitment process and why financial institutions need to start paying closer attention to this growing problem.
Learn more about BAE System's FinCrime Testing Service.
This episode is spoken in Spanish with English subtitles.
Thank you for joining us for another edition of the Intelligence Download. We are certainly living in extraordinary times with the advent of COVID-19 and the global economic crisis caused by this pandemic. It’s something all organisations are working to manage. Unfortunately, this pandemic also brings enhanced challenges in particular the ethically challenged and criminally minded who seek to take advantage of the situation.
In this episode, Christian Menda Medina, sits down with Mario de la Fuente, Director de Área de Governance, Risk and Compliance at TIREA to discuss his role at TIREA and how Covid-19 is affecting the insurance industry from a Fraud and Regulatory perspective.
The impact of the COVID-19 Pandemic has ensured that remote working has become a daily fact of life for organisations across the public and private sectors. While most workforces have adapted rapidly to these changing circumstances, challenges still remain – not least when it comes to IT security and having the right technical plan to support secure, and remote, communication and collaboration. In this podcast, BAE Systems’ Andrew Harwood sits down with Joe Boyle, co-founder of SaltDNA, and Fabian Eberle, the co-founder of Keyless, to discuss the way forward.
In this episode of The Intelligence Download, Robert Goldfinger, Global Financial Crimes Expert for BAE Systems Applied Intelligence sits down with David Chenkin, managing partner of law firm Zeichner Ellman & Krause LLP, and a Certified Anti-Money Laundering Specialist to discuss the state of art and antiquities and money laundering and the current response to it.
Learn more about the BAE Systems range of fraud and financial crime management solutions
In this episode of The Intelligence Download, we speak with Brett Lancaster, Head of the Customer Security Programme at SWIFT, and Simon Viney, Cyber Security Financial Services Sector Lead at BAE Systems Applied Intelligence about the SWIFT commissioned BAE Systems report “Follow the Money”.
The report describes the complex web of money mules, front companies, and cryptocurrencies that criminals use to siphon funds from the financial system after a cyber-attack and highlights the ingenuity of money laundering tactics to obtain liquid financial assets and avoid any subsequent tracing of the funds.
Our unique financial sector threat intelligence ensures we have the most current view of the threats relevant to SWIFT members. We have been working with SWIFT since July 2016 to provide rapid insight, advice and solutions to SWIFT customers. Access our latest reports and insights.
In this episode of The Intelligence Download, Dennis Toomey, our Global Director for Counter Fraud and Analytics sits down with Renato Schipani, Criminal Intelligence Officer from INTERPOL and past President of the International Association of Auto Theft Investigators to discuss transnational organized crime and transnational insurance fraud. They also discuss the impact COVID-19 is having on a global level.
Learn more about the BAE Systems range of fraud and financial crime management solutions
Thank you for joining us for another edition of the Intelligence Download. We continue to live in extraordinary times with the advent of COVID-19 and it’s something that all organizations are continually working to manage. Unfortunately, this pandemic also results in people taking advantage of the situation in the form of committing fraud and financial crime.
In this episode, Chris Andrew, our Director for Counter Fraud sat down with Ben Fletcher, Director Insurance Fraud Bureau (IFB) and Mahen Samiappan, CEO Insurance Services Malaysia (ISM) to discuss the background to their organizations, what we could expect from a fraud perspective over the coming months and how insurance consortiums continue to support the industry and proactively evolve.
Learn more about BAE Systems range of fraud and financial crime management solutions
In this episode, Dennis Toomey, our Global Director for Counter Fraud and Analytics sits down with Jim Potts, Vice President of the Special Investigations Division for New York Central Mutual Insurance and current Chair of the New York Alliance Against Insurance Fraud (NYAAIF) and Frank Sztuk, Senior Vice President, Investigative Services for the Delta Group and current chair of the Public Outreach Committee as well as past Chair of the Alliance. The discussion is a deep dive into trends they are seeing from an industry perspective and how this pandemic is changing the way carriers protect themselves against insurance fraud.
Learn more about BAE Systems range of fraud and financial crime management solutions
Part 2: On today’s Intelligence Download, Robert Goldfinger, Global Financial Crimes Expert interviews Gail Fuller, Vice President of the Financial Integrity Network discussing how COVID-19 is impacting financial institutions across the globe, what they should be watching for over the coming months and where we go from here.
Link to Part 1 of this interview
Learn more about BAE Systems range of fraud and financial crime management solutions
On today’s Intelligence Download, Robert Goldfinger, Global Financial Crimes Expert interviews Gail Fuller, Vice President of the Financial Integrity Network discussing how COVID-19 is impacting financial institutions across the globe, what they should be watching for over the coming months and where we go from here.
Link to Part 2 of this interview
Learn more about BAE Systems range of fraud and financial crime management solutions
In this episode, Dennis Toomey, our Global Director for Counter Fraud and Analytics sat down with Matthew Smith, Director of the Coalition Against Insurance Fraud to discuss the organisation's background, what we could expect from a fraud perspective over the coming months and what businesses and individuals should be doing to protect themselves.
Learn more about BAE Systems range of fraud and financial crime management solutions
Tony DiPaolo, Executive Director of the Massachusetts Insurance Fraud Bureau and Dennis Toomey, Global Director for Counter Fraud and Analytics here at BAE Systems Applied Intelligence, discusses the insurance industry's unusual problem.
With a worldwide pandemic comes new opportunities for fraudsters and challenges for those trying to stop and catch criminals. How do you continue investigations? How do you keep your investigators safe?
When authorities can't or won't bring prosecutions against fraudsters, criminals see low-risk opportunity. In the face of restricted law enforcement resources, how can insurers protect their business and their customers?
Global Head of Insurance Fraud Product Dennis Toomey and host Ben Tudor talk to Ross Silverman, Partner at Katten Muchin Rosenman LLP, about how he helps insurers pursue private prosecutions against serial fraudsters. The measures Ross and his colleagues take have a measurable deterrent effect on fraud - and it's been described as the SIU's secret weapon.
Ross also explores the possibilities for a global coalition to work together against insurance crime, and why insurers should tackle the hives, not the bees.
We gathered together fraud experts from around the world in Barcelona recently to compare approaches and discuss how closer cooperation could help insurance fraud teams around the world.
In the first of a series of podcasts with some of the attendees, hear from Matthew Smith, Director of Government Affairs and General Counsel for the Coalition Against Insurance Fraud, and Dennis Toomey, Global Head of Insurance Fraud at BAE systems, on generational change in the industry, emerging trends and the role of both consumer advocacy and privacy in addressing the fraud problem.
There's a type of money laundering that banks struggle to identify - and it's massive.
Anton Moiseienko, Research Fellow at the Royal United Services Institute's Centre for Financial Crime and Security Studies, and Jon Draper, New Ventures Product Lead at BAE Systems Applied Intelligence talk to host Ben Tudor about a second front in the battle against money laundering: global trade.
Find the first episode of this two-part series here.
Further reading:
BAE Systems banking Insights: Finding the Achilles' Heel of Trade Based Money Laundering
RUSI: Have your cake and trade it (Anton Moiseienko)
RUSI: Addressing the abuse of trade for money laundering purposes (Jon Draper, BAE Systems)
There's a type of money laundering that banks struggle to identify - and it's massive.
Anton Moiseienko, Research Fellow at the Royal United Services Institute's Centre for Financial Crime and Security Studies, and Jon Draper, New Ventures Product Lead at BAE Systems Applied Intelligence talk to host Ben Tudor about a second front in the battle against money laundering: global trade.
Look out for the second episode over the coming weeks.
Further reading:
BAE Systems banking Insights: Finding the Achilles' Heel of Trade Based Money Laundering
RUSI: Have your cake and trade it (Anton Moiseienko)
RUSI: Addressing the abuse of trade for money laundering purposes (Jon Draper, BAE Systems)
John Beadle has spent decades working with insurers, law enforcement and the UK government to tackle and defeat insurance fraud. A former New Scotland Yard detective, he’s been a pivotal figure in the creation of the General Insurance Council and the Insurance Fraud Council, and Head of Fraud at Royal Sun Alliance.
Hear John’s observations on how UK insurers and law enforcement have stepped up to the task of taking on fraud over the last few years – and the value of open and friendly cooperation to get the job done.
Online data sharing has made data privacy critical. But whose responsibility is it to keep it safe?
In the second of two podcasts for The Intelligence Network, cyber security and human factors consultant Esme Heywood and data and privacy expert Rob Clifford talk to host Ben Tudor about what people – and organisations – can do to keep their data safe.
Hattie Shaw of the Futures team talks to our host, Ben Tudor, about how banks can check whether their defences against money laundering actually work - and, in the process identify and assist individual victims of crime.
The proposed FinCrime Testing Service is intended to provide an independent test for banks to measure how effective their defences are, and how they can be adjusted and improved.
The first typology will simulate the behaviour of a victim of Human Trafficking. The intention is this will help banks identify, and the authorities ultimately help, people who have been forced into slavery.
To find out how your institution can get involved, mail fincrimetestingservice@baesystems.com
It's the oldest trick in a cyber attacker's book: as old as human communication and deceit itself. Confidence tricks that mislead employees, customers or intermediaries into giving away information, data or access are a massive vulnerability hidden in plain sight. So how do we defend against Social Engineering?
In the first of two podcasts inspired by research for The Intelligence Network, Cyber Security & Human Factors Consultant Esme Heywood and Gareth Evans, Senior Financial Crime Consultant look at how Social Engineering works, and how the financial sector can help protect customers from attack.
Insurers – and their customers – are changing at breakneck pace these days. Organised fraudsters are more than keeping up.
In this second of two podcasts, Scott Clayton, Head of Claims Fraud at Zurich, and Cate Wright, BAE Systems Insurance Product Manager draw on their extensive experience of countering fraudsters in discussion with host Ben Tudor.
Insurers – and their customers – are changing at breakneck pace these days. Organised fraudsters are more than keeping up.
In the first of two podcasts, Scott Clayton, Head of Claims Fraud at Zurich, and Cate Wright, BAE Systems Insurance Product Manager draw on their extensive experience of countering fraudsters in discussion with host Ben Tudor.
Many of the challenges you face when fighting insurance fraud are shared by your peers across the world. Yet there are subtle – but important – variations when it comes to the way these trends affect insurers in different countries.
In this new podcast, two of BAE Systems leading counter-fraud minds – Cate Wright and Dennis Toomey – discuss the differences between UK and US approaches to tackling fraud.
After the events detailed in The Thread, banks, institutions and cyber experts were quick to respond. But what does the future hold?
In this podcast SWIFT Chief Security Officer Karel De Kneef and BAE Systems Cyber Security Consultant Szu Ho join host Ben Tudor to discuss the future threats to financial markets. The topic is covered in further detailed in a joint report from SWIFT and BAE Systems, The Evolving Advanced Cyber Threat to Financial Markets.
In the months after the attack on Bangladesh Bank, cyber security and financial institutions and experts responded. What did they learn, how did they change their approach and what lessons can other industries learn?
This episode of the Intelligence Download looks at how both the cyber security and financial sectors responded to the new attacks on banks, and how it changed the way that financial institutions protected themselves.
James Allman-Talbot, Head of Incident Response at BAE Systems, and Stephen Blackburn, Senior Financial Crime Consultant talk to host Ben Tudor about the lessons learned and the future for financial institutions.
Suspicious Activity Reports are a divisive issue for banks. They’re often regarded as a futile chore by those that file them, and a potentially harmful administrative burden for compliance officers.
Speak to someone in Law Enforcement, however, and you’ll get a very different story. Hear what former FBI Special Agent Gregory Coleman had to say about the value of SARs in this conversation with Stephen Blackburn, a Senior Consultant at BAE Systems, hosted by our Content Editor Ben Tudor.
Discussing the future and referencing the past in insurance fraud. How can InsureTechs help and why is machine learning an important tool.
With the constant pressures on Insurance companies to meet and exceed customer expectations, how do they cope and compete to win customers and how can they beat fraudsters. 2018 was a busy year for the insurance fraud industry. What will 2019 be?
Sital Shah and Cate Wright from BAE Systems discuss these pressures and what the future may look like in 2019.
Holly Armitage and Chris Blood, data strategists at BAE Systems, talk about the practical steps banks need to take to share intelligence between their Fraud, Cyber and Compliance teams. Holly and Chris have seen and tackled this across both the public and private sector, and talk about how banks can take concrete first steps within 100 days – and how some of the toughest challenges they will overcome will be human and cultural. For more information on this challenge – and to see Holly and Chris’ 100 day timeline for tackling silos – go to https://www.baesystems.com/problemshared
At our recent exclusive briefing hosted by the Financial Times, experts from Red Lion Chambers, HSBC, the Financial Conduct Authority, the Financial Times, the Insurance Fraud Bureau and BAE Systems debated how best to build resilience against changing criminal strategies amidst a changing regulatory environment.
Participants, L to R
Moderated by: Barney Thompson, Legal Correspondent, Financial Times
Jonathan Fisher, QC, Red Lion Chambers
Stephen Dalton, Head of Intelligence, IFB
Jennifer Calvery, Global Head of Financial Crime Threat Mitigation, HSBC
Alison Barker, Director of Specialist Supervision, Financial Conduct Authority
Rob Horton, Head of Financial Crime Solutions, BAE Systems
Topics:
Regulation, Recruitment, Relationships: building resilience in financial services
- What is the role of financial regulators in protecting the system? Regulatory changes over the last decade have been designed to bolster and stabilise the banking sector – but how are these legislations impacting financial crime?
- How can collaboration between financial institutions, law enforcement agencies and their corporate customers be improved to combat fraud and financial crime? What do new regulations mean for information-sharing between these organisations?
- Have the challenges of compliance to existing complex regulatory requirements – AML and KYC as well as data protection – been met? How?
- What is the national strategy for protecting banks, insurers and other financial services firms from financial crime? How are areas of government working with businesses to ensure that the financial ecosystem has adequate legislative, technical and cultural support? Is it possible to develop one policy framework that can be applied across a range of threat vectors?
At our recent exclusive briefing hosted by the Financial Times, we heard about the current threat landscape from experts at RUSI, Standard Chartered Bank, the FT and our own Threat Intelligence team.
Find out what our panel thought of the current shape of cyber threats, the tactics, techniques and procedures they use, challenges for banks, insurers and other financial services and current attack and fraud scenarios.
Participants, L to R
Moderated by: Caroline Binham, Regulation Correspondent, Financial Times
John Cusack, Global Financial Crime Head, Standard Chartered Bank
Tom Keatinge, Director of the Centre for Financial Crime and Security Studies, RUSI
Robert Hannigan, Special Advisor on Cyber Security, Hiscox and Executive Chairman Europe, BlueVoyant
Saher Naumaan, Threat Intelligence Analyst, BAE Systems
Topics:
The Current Threat Landscape
- What do cyber threats look like today? Where are they coming from, how are they different, and how do they apply to financial services?
- Tactics, techniques and procedures: what are the latest TTPs used by cyber attackers for monetary gain, and how can the financial industry arm itself against them?
- What kind of fraudulent scenarios are enabled by the current threat landscape, and which are emerging as the biggest challenge for banks, insurers and other financial service firms?
- The geopolitical factor: how will developments like Brexit heighten the risk of financial crime in the UK? How might they impact cross-border attempts at detection and attribution?
Gregory Coleman, an ex-FBI agent whose expertise in white collar crime led him to apprehend the infamous Jordan Belfort, sat down with us for a short discussion around the changing landscape in regulation and compliance within US financial institutions. Institutions have faced a sea of change since the 2008 financial crisis and opinion around that change are divided - what does the future look like for financial regulation in the US?
We discussed this with Greg at one of our US Business Forums, hosted by Scott Kear, Product Marketing Manager for our Financial Crime Compliance Solutions.
Jonathan Luff, co-founder of CyLon, Europe's first dedicated accelerator programme for cyber security startups, continues his conversation with Richard Wilding, director of Futures at BAE Systems Applied Intelligence. He talks about his contribution to The Intelligence Network report and argues that for years the airline industry has used a ‘no-blame’ culture to learn from its mistakes, which has shown that being open with the powers that be, where there are no ramifications for mistakes, is extremely valuable in driving reviews of safety, procedures and risk to ensure the same mistake doesn’t happen again. Is it time to take the same approach to cyber attacks, digital thefts and breaches?
Jonathan Luff, co-founder of CyLon, Europe's first dedicated accelerator programme for cyber security startups, talks to Richard Wilding, director of Futures at BAE Systems Applied Intelligence. Jonathan recently joined the Steering Committee of The Intelligence Network, an initiative powered by a community of like-minded global security professionals and industry influencers who are committed to creating a safer society in the digital world. He talks about his contribution to The Intelligence Network report and expands on his article It’s time to turn information sharing on its head. Jonathan uses the analogy of the black box to represent incident reporting in the airline industry and the lessons the cyber industry can adopt to address cyber attacks, digital thefts and breaches.