Month: June 2022

FiveBy experts are often asked to provide insights on risk-related news, industry trends, and other sanctions and money-laundering issues.

Irene Kenyon, FiveBy Director of Risk Intelligence, was recently quoted in an article by the Organized Crime and Corruption Reporting Project (OCCRP) on the network of proxies and middlemen that are used to obscure involvement in Syrian phosphate imports into Europe.

Security firms linked to sanctioned war profiteers and senior figures from sanctioned Russian oligarch, Gennady Timchenko’s, Stroytransgaz benefit from the trade. Stroytransgaz denies its companies were connected, but OCCRP and its partners found evidence of several links between Stroytransgaz and these firms.

Kenyon commented on blood money that is generated from the Syrian phosphate trade is likely going into the pockets of designated, corrupt kleptocrats and that using shell companies is a common strategy to disguise the fact that sanctioned entities or individuals were benefiting from a trade.

An abbreviated version of the story was also published by the Guardian.

To access FiveBy expertise on sanctions, money laundering, and other risks that can impact your business, please click below.


Seattle, WA

FiveBy is proud to announce a new partnership with Microsoft, which combines managed service offerings with the power of Microsoft Dynamics 365 Fraud Protection. Organizations across many industries are experiencing an increase in fraud incidents at speeds that impact revenue with little warning and often require unplanned resources to respond.  According to 451 Research, for merchants that have seen fraud volumes increase, 41% cited growth in new account fraud, while 35% cited a spike in policy abuse and friendly fraud. *

FiveBy’s fraud management expertise coupled with Microsoft’s adaptive AI technology offers customers a comprehensive solution to defend against the continuous threat of fraud related attacks while improving accuracy and acceptance rates. This collaboration enables organizations to identify and reduce fraud costs, while freeing up key resources to focus on investments, innovation, and growth.

Dynamics 365 Fraud Protection’s ability to continuously learn evolving fraud patterns enables customers to detect and protect against fraud trends and loss issues faster and with more accuracy, while providing a holistic view of the fraud landscape. Dynamics 365 Fraud Protection delivers three key capabilities integrated as part of an overall solution or provided individually as needed:

  • Purchase protection that rejects fraudulent transactions while more accurately accepting legitimate purchases, maintaining and even improving revenue and customer satisfaction
  • Account protection to fight against account takeovers, fake account creation and user account abuse
  • And loss prevention that enables organizations to identify anomalies that can indicate fraud trends in off-line behavior or for batch analysis

“As long-time specialists in this field, FiveBy has not come across a fraud detection and insights solution nearly as robust and accurate as Microsoft’s fraud protection tool. We are thrilled to be able to offer our customers an opportunity to get ahead of ever-changing fraud trends at a speed and operational efficiency that hasn’t been available until now.” -Alex Kochis, President & Founder of FiveBy

FiveBy’s team of experts, including credentialed fraud investigative analysts and data scientists, provide dedicated customer support from the initial evaluation and implementation of Microsoft Dynamics 365 Fraud Protection to the ongoing management and optimization. For what once required customers to manually search for trends and anomalies that might indicate a fraud incident, FiveBy can now analyze small batch data sets for labeling (flagging fraud related transactions) that feed into the Dynamics 365 Fraud Protection AI modeling to be automated. Additionally, FiveBy will assess customers’ current fraud mitigation processes, tools, workflows, and decision matrices.

“Fraudsters are sophisticated and continually seek vulnerabilities to exploit. However, most of our customers are not fraud experts, nor are they staffed with large teams of skilled fraud analysts and investigators. Therefore, we are working with FiveBy Solutions to deliver a comprehensive solution that enables our customers to stay ahead in the race against fraudsters.” – Donald Kossmann, Distinguished Engineer & General Manager, Microsoft Dynamics 365 Fraud Protection.

While identifying anomalies, trends, and key insights are a basic need in this fast-paced market, organizations still need to act, leveraging the intelligence gathered. In addition to fine-tuning data to be ingested into the Dynamics 365 Fraud Protection AI modeling and adjusting parameter and rules configurations, FiveBy’s specialists can provide ongoing assessments and recommendations to improve data and policy health, or even implement improvements directly with customer teams to close vulnerable gaps that can be easily exploited.

* Fraud-prevention upgrades come into focus, 451 Research, S&P Global Market Intelligence, February 8, 2022

About FiveBy Solutions

FiveBy Solutions is a specialized risk intelligence consultancy with unique expertise in risk and fraud management. Companies and organizations contact FiveBy when they see risks related to fraud, abuse or compliance that could affect their reputation, their ability to support customers, their intellectual property, or their bottom line. FiveBy provides unique insight and experience to transform these risks into opportunities. Whether you work with FiveBy on an assessment, to address a one-off incident, or to create robust processes to address future risks – we’ll always be in your corner. We stay ahead of the game, so you don’t have to.

More information:

Press inquiries: John Solheim – FiveBy

 Click here for PDF


Courtesy of Flickr

FiveBy experts are often asked to provide insights on risk-related news, industry trends, and other sanctions and money-laundering issues.

Irene Kenyon, FiveBy Director of Risk Intelligence, recently participated in a free webinar with Thomson Reuters on how US firms and financial institutions can best adjust to the volatile sanctions environment caused by Russia’s invasion of Ukraine.

Topics in this hour-long webinar include strategies to protect companies from regulatory risk, given the rapidly changing sanctions environment, with new designations being released almost on a daily basis, reputational risk, de-risking, and transparency that makes tracking illicit assets much less challenging.

Best advice 

Companies must examine their own risk appetites. What are their red lines? Are they willing to do business in Russia at all, given the sanctions  risks?

And if companies feel they cannot completely disengage from Russia, they must watch the regulatory and legislative developments and do proactive assessments about businesses that may be at risk of being sanctioned, about entities that may have connections with Russian oligarchs  who may be in danger of being designated, and know how much being involved with Russia will impact their reputations in the ESG sphere, which is becoming more and more critical for both clients and investors.