Written by Colin Sims, Chief Operating Officer, Forter

Abuse is growing in volume and attention

Policy abuse is a recurring topic in my recent conversations. As eCommerce has grown rapidly, so have the types and amount of abuse.

Kevin O’Leary, notable for his role on Shark Tank, has made an about-face on digital assets. Originally a skeptic, the businessman has, this month, announced that nearly 10% of his portfolio is now invested in digital assets. O’Leary isn’t the only famous businessman to espouse the benefits of cryptocurrencies. Mark Cuban and Elon Musk, in particular, have long been cheerleaders for the new investment class.

Tinkoff has acquired a controlling stake (51%) in Just Look, the developer of Jump.Finance, a fintech service that automates interactions with freelancers, including payments.  

The deal was undertaken on behalf of Tinkoff Business, the branch of Tinkoff Group that services small, medium-sized and large businesses. Jump.Finance will be integrated into the Tinkoff Business ecosystem and retain its current team. The financial terms of the deal have not been disclosed. 

Interestingly, this year’s report reveals that External Fraud has entered the top five (from 9th place), replacing Business Continuity. The variety, volume, and sophistication of External Fraud attempts present an evolving and ever-present challenge in an economically turbulent environment.   

First crypto risk management platform for institutions, utilizes Cloverly, a sustainability-as-a-service platform, to help the crypto industry offset its environmental footprint.

• Performance of UK VC funds has increased sharply over the last 12 months

• Debt levels among variable workers* have increased by ten percentage points throughout the pandemic, with the number of variable workers with debts of between £5,000 and £10,000 more than doubling from 2020 (10% to 23%).
• Of the 25-34 year olds that expect to increase borrowing in the next six months, 31% need additional funds to buy Christmas gifts for friends and family.
• These groups of society are also more likely to use higher cost credit options, such as an unauthorised overdraft.

Judith Hartley, CEO, British Patient Capital said: “The performance of UK venture capital is a notable success story after what has been an otherwise challenging period for businesses across the world. The third annual UK Venture Capital Financial Returns report from our parent company, the British Business Bank, clearly illustrates the importance of venture capital as an asset class to investors, innovative companies, and the wider economy.

Following this year’s UAE success, iFX EXPO Dubai 2022 will be sweeping into an even larger venue for another action-packed show. The eagerly-awaited expo will take place at Za'abeel Hall 6, Dubai World Trade Centre from 22-24 February 2022 and is expected to attract more than 3000 attendees.