While fraud is always evolving where and how it hits, crisis leaves even greater opportunity for novel forms of fraud to emerge. Following the advent of the Covid-19 pandemic AUSTRAC - as well as providing guidance for reporting entities on compliance with AML/CTF laws - identified new areas of potential criminal exploitation, including the targeting of government assistance programs through fraudulent applications for example. We have seen fraudsters move away from targeting solely financial services and into such industries as gaming
gaming and superannuation.
This discussion will look into how fraud is evolving and the new associated challenges with keeping pace, as well as strategies to combat new threats.