NEWS
Ongoing drought has potential to stunt Spanish data centre market development
is warning that interruptions to free cooling processes have the potential to stifle the market ’ s ongoing growth .
Amid one of the driest ever springs in
Spain , a sector expert is warning that a lack of free cooling capacity could hinder the burgeoning growth of the nation ’ s data centre market .
As hyperscalers and colocation facilities alike grapple with power-related challenges in the FLAP-D markets , data providers are gravitating towards Europe ’ s Tier 2 markets of Zurich , Milan , Madrid and Berlin , with a 2022 projection from CBRE forecasting that these will triple in size by Autumn 2023 .
Of these , Madrid was highlighted as the main beneficiary , with 47MW set to come online in 2022 and 2023 .
However , following reports that the Spanish water reserve fell below 50 % in May , Aggreko
Billy Durie , Global Sector Head for Data Centres at Aggreko , said : “ Spain , and Madrid in particular , is becoming an increasingly attractive location for data centre facilities . The Spanish government ’ s Digital Spain 2026 policy is a huge bonus for data providers , while the nation ’ s wider commitment to realising renewable energy means that energy shortages are less severe compared to other European nations .
“ That said , Spain is currently enduring one of the worst droughts recorded this century . Without water , free cooling processes simply aren ’ t possible , which has the potential to stunt the wider development of the market if left unchecked . For this reason , it ’ s critical that data centre operators ensure that contingency plans are in place in the meantime to maintain Business Continuity .”
Experian launches new service to prevent ‘ money mule ’ account fraud
Consumer credit company , Experian , has announced a new service which will help banks and building societies identify and close ‘ money mule ’ accounts which are used to house fraudulentlyobtained funds .
Money mules are individuals who have agreed to let their bank accounts be used by criminals in exchange for cash . According to new insights from Experian , 42 % of first-party current account fraud is now mule-related , with the fraud rate for current accounts rising by 13 % in the first three months of the year .
Money laundering is estimated to cost the UK economy more than £ 100 billion each year , while Authorised Push Payment ( APP ) fraud losses reached £ 485 million in 2022 .
The funds deposited in these accounts are often the proceeds from APP fraud – with the victim is tricked into transferring money to various mule accounts to hide the origin of money – before then being distributed onto the fraudster ’ s own accounts .
Currently , banks and other account providers don ’ t have information on where the money is being received from or being sent to except for confirmation of the payee , making it difficult for them to identify and investigate accounts potentially being used in this way .
Experian Mule Score aims to solve this problem . By analysing account opening history and turnover activity , Experian bureau data , and the modelled characteristics of more than 200,000 confirmed mule cases , the Machine Learning-powered solution enables banks to assess their entire portfolio so they can easily spot questionable account activity .
In proof-of-concept trials , the solution was able to accurately identify more than 50 % of the highest risk ‘ mule ’ accounts . The solution will help banks avoid onboarding suspicious accounts at the point of opening , reduce fraud losses and operational costs , support consumers who are at risk , as well as preventing fraudulent funds entering the mainstream financial system .
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