Close Menu
The London News
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram Vimeo
    The London News
    Subscribe Login
    • Tech
    • Fitness & Health
    • Business
    • Finance
    • Food & Drink
    • Lifestyle
    The London News
    • Terms & Conditions
    • Privacy Policy
    • Advertise With Us
    Home»Business»Fintech ANNA Money adds pioneering biometric re-authentication measures to beat financial crime
    Business

    Fintech ANNA Money adds pioneering biometric re-authentication measures to beat financial crime

    EditorBy Editor18 October 2024Updated:18 October 2024No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp VKontakte Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    ANNA – which supports more than 100k UK SMEs with its all-in-one business and tax app – is one of the first financial institutions in the UK to implement trail-blazing biometric ‘re-authentication’ procedures to stop criminals from using accounts they may have accessed illegally.

    If someone tries to access an ANNA account on a mobile device that’s not the one the account was set up on, this triggers biometric re-authentication – usually a request to take a selfie – and given that the criminal’s face won’t match the original account owner’s, the account is immediately suspended.

    To further boost security, ANNA has also added ongoing random biometric authentication checks that require a customer selfie. Whether fraudsters have scammed their way into someone’s account, snatched an unlocked phone,  or are using a ‘mule’ account* to launder money, these new, industry-leading measures will mean that criminals are instantly blocked when they attempt to access the ANNA account.

    Leven Li, ANNA’s Chief Compliance Officer, says, ‘ANNA was one of the first in the industry to start pushing these changes live and we continue to make updates and improvements. Our random biometric re-authentication programme went live this week and we expect that other financial institutions will likely follow our lead.

    ‘While these measures are mainly aimed at detecting accounts accessed and misused  by criminals who have not been through our Know Your Customer process, there’s no friction at all for our regular customers. It’s just a quick selfie – which we are all used to doing – and it’s keeping our customers and their accounts much safer from day-to-day threats, like fraudsters trying to scam their way in or phone snatchers who try to access accounts by bypassing security protections.’

    This is one of many ways in which ANNA has prepared for the Payment Systems Regulator’s new rules for reimbursing Authorised Push Payment fraud  (aka APP, where someone is tricked into sending money to a fraudster who is posing as a genuine payee), which came into force in the UK on 7 October 2024.

    The new rules mean that payment services providers (PSPs) like ANNA are legally required to reimburse eligible claims from customers who fall victim to APP fraud through faster payments and CHAPs payments, up to a maximum repayment limit. They may also charge an £100 excess for claims and can share reimbursement costs 50:50 between sending and receiving PSPs. They are also required to provide additional protection for vulnerable customers.

    ANNA already has robust checks in place to ensure that potential customers are who they say they are. Only UK residents and UK businesses are allowed to open ANNA accounts, and ANNA uses national databases like CIFAs to protect our customers from fraud. Of course, fraudsters are constantly finding new ways to target peoples’ hard-earned money but ANNA is dedicated to working around the clock to stay one step ahead.

    Featured Photo by Onur Binay on Unsplash.

    • Editor
      Editor
    Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
    Previous ArticleMerchant Square Transforms into a Halloween Haven
    Next Article UK’s phone-related driving accident hotspots revealed: Brent ranks as one of the most dangerous areas
    Editor
    • Website

    Related Posts

    Etpl appoints Oakvale Capital as exclusive investment banker to lead capital raise and growth strategy

    11 September 2025

    Washdoctors Launches First-of-Its-Kind Car Care App Bringing Luxury-Level Convenience to Drivers Across London

    8 September 2025

    Why Corporations Stateside Are Ditching Hotels And Booking Luxury Estates For Corporate Retreats

    3 September 2025

    Amplify Goods Launches SUDZERØ™ for Net Zero: Powder-to-Foam Hand Wash That’s All Foam and All Action

    2 September 2025
    Our Picks

    StayCotswold Map Reveals the Best Dog Walks in the Cotswolds

    11 September 2025

    Dorset Cottage Holidays Teams Up with Brakeburn and Isle of Purbeck Golf Club to Launch the Ultimate Autumn Dorset Getaway

    11 September 2025

    Etpl appoints Oakvale Capital as exclusive investment banker to lead capital raise and growth strategy

    11 September 2025

    Discover Wellness-Essary: The Female-Founded App Transforming Wellbeing

    10 September 2025
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    About Us
    About Us

    We're accepting new partnerships right now.

    Email Us: [email protected]

    Our Picks

    Beat the classroom bugs

    2 September 2025

    London’s Biggest Bowie Lookalike Competition Announced by ZIGGYFEST

    29 August 2025

    Miracle Man Ismail Crosses the Finish Line in Walk2Help challenge for Forget Me Not Hospice

    27 August 2025
    Subscribe to Updates

    Subscribe to Updates

    Get the latest creative news from The London News

    Facebook X (Twitter) Instagram Pinterest
    • Terms & Conditions
    • Privacy Policy
    • Advertise With Us
    © 2025 by The London News.

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login below or Register Now.

    Lost password?

    Register Now!

    Already registered? Login.

    A password will be e-mailed to you.