Suparna Goswami

Associate Editor, ISMG

Goswami has more than 10 years of experience in the field of journalism. She has covered a variety of beats including global macro economy, fintech, startups and other business trends. Before joining ISMG, she contributed for Forbes Asia, where she wrote about the Indian startup ecosystem. She has also worked with UK-based International Finance Magazine and leading Indian newspapers, such as DNA and Times of India.

Curbing the Rise in Investment Scams

Suparna Goswami • January 24, 2025

According to the FBI, losses from investment scams surged 38% between 2022 and 2023. Fraudsters are using highly effective tactics, including sending text messages to lure victims to fake cryptocurrency platforms, said Ken Westbrook, founder and CEO of Stop Scams Alliance.

Understanding Insiders: The First Step Toward Tackling Fraud

Suparna Goswami • January 22, 2025

Who is an insider? It could be an employee or it could include vendors and contractors who have access to sensitive data. Organizations need to broaden the definition of insider threats and fraud risks in today's AI-powered workplace, said cybersecurity expert Raina Verma.

How Can FIs Share Data Despite Privacy Rules?

Suparna Goswami • January 21, 2025

Information sharing among banks is crucial for tackling financial crimes. But privacy regulations often make collaboration difficult. While the USA PATRIOT Act introduced Section 314(b) to facilitate private-to-private sharing, voluntary participation has limited its impact, according to experts.

A Day Before DORA Deadline, Only 20% of FIs Are Ready

Suparna Goswami , Rashmi Ramesh • January 16, 2025

The European Union's most comprehensive digital and cyber risk regulations for the banking industry are set to come into force on Jan. 17, but only about 20% of EU financial services firms are ready to comply. Experts discuss implementation challenges and offer advice for non-compliant FIs.

Case Studies on Fraud and AML Collaboration

Suparna Goswami • January 14, 2025

Fraud management and anti-money laundering represent two distinct disciplines in financial crime prevention. While AML primarily is a compliance-driven function, fraud is a risk management function driven by the organization's risk appetite for fraud, said Ian Mitchell, co-founder of Mission Omega.

FRAML Reality Check: Is Full Integration Really Practical?

Suparna Goswami • January 13, 2025

A recent report found that more than 57,000 Americans fall victim to scams every day. Financial fraud is rising globally. In response, the National Automated Clearinghouse Association is pushing for real-time fraud monitoring by 2026, requiring closer collaboration between fraud and AML teams.

Meta's Fact-Checking Pullback Could Help Scammers Thrive

Suparna Goswami • January 8, 2025

Meta has decided to end its fact-checking program. Meta CEO Mark Zuckerberg announced significant changes to the company's moderation policies and practices on Tuesday, attributing the shift to a renewed commitment to free speech. Some fear the move will embolden financial scammers.

PCI DSS to Focus on Phishing-Resistant Authentication

Suparna Goswami • January 8, 2025

While PCI DSS 4.0 tackled evolving threats, the newly introduced version 4.0.1 focuses on phishing-resistant authentication factors. Yew Kuann Cheng, regional VP, Asia Pacific, PCI Security Standards Council, shared insights on adapting to the new requirements and the role of MFA.

Scams and Reimbursement Mobilization to Continue in 2025

Suparna Goswami • January 6, 2025

Scams posed a challenge globally in 2024, sparking mobilization across regions. In 2025, most governments will impose minimum standards of care with collaboration between FIs, tech platforms and telecom players becoming crucial to tackle scams, said Trace Fooshee, strategic advisor, Datos Insights.

US CFPB Needs to Look Beyond Zelle to Curb Scams

Suparna Goswami • January 3, 2025

The U.S. Consumer Financial Protection Bureau's decision to file a lawsuit against Zelle is too late and too narrow to reduce scams, said Ken Palla, retired director with MUFG Bank. CFPB last month sued the operator of Zelle, as well as three banks for failing to protect consumers from fraud.

Privacy 2025: AI and Privacy to Get Unified Governance Team

Suparna Goswami • January 2, 2025

Organizations are likely to transition from siloed privacy and artificial intelligence governance teams to unified data governance groups over the next 18 months as the market understands the intertwined nature of privacy and AI, said Nader Henein, vice president analyst with Gartner.

Fraud in Focus: Preparing for 2025 Challenges

Suparna Goswami • January 1, 2025

Fraud experts predict major challenges in 2025, including synthetic identities driving identity fraud, AI aiding sophisticated scams and check theft adding to persistent payment fraud problem. The industry needs innovation and collaboration to combat vulnerabilities across sectors, panelists said.

Synthetic ID to Remain a Priority for Credit Unions in 2025

Suparna Goswami • December 31, 2024

Mission Omega Fraud Operations Leader Hailey Windham outlined the major fraud trends in 2024, including the rise in check fraud and AI-driven scams. She pointed out the ongoing threat of synthetic identity fraud, causing significant financial losses for credit unions.

Nacha's 2026 Rules to Boost AML and Fraud Team Synergy

Suparna Goswami • December 30, 2024

Nacha's upcoming 2026 requirements for real-time fraud monitoring will demand collaborative efforts by fraud and AML teams to meet compliance goals, said Devon Marsh, managing director of ACH network rules and risk management at Nacha.

Shadow AI and Deepfake Attacks to Dominate in 2025

Suparna Goswami • December 25, 2024

Shadow AI, malware evading defensive AI and deepfake-enabled attacks will dominate 2025, said Etay Maor, chief security strategist at Cato Networks, emphasizing the need for organizations to improve visibility and detection to counter rapidly evolving AI-driven threats.

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