This post was originally published on Finextra (Security)
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.
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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
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