Tagged: financial crime

April 1, 2024 @ 8:55 am By Omar Faridi  |  

Form3, the cloud-native account-to-account platform, launches a new, innovative authorised push payment fraud (APP fraud) prevention solution, powered by Feedzai, the firm focused on anti-fraud and financial crime software. The new product is the first solution, “built using fully supervised machine learning, to leverage collaborative… Read More

March 23, 2024 @ 6:36 am By Omar Faridi  |  

Bank of Ireland is warning that ‘money-muling’ – or allowing a bank account to be used to transfer stolen money for a fee – can lead to a criminal record and impact travel or employment prospects. The warning comes as some students “will be planning… Read More

March 18, 2024 @ 1:23 am By Omar Faridi  |  

AML (Anti-money Laundering) systems are a rapidly evolving area of technology, which has to compensate for the constant increase in volume and complexity of online financial crime, according to an extensive update shared by Juniper Research. Juniper Research defines anti-money laundering systems as “a set… Read More

February 25, 2024 @ 5:50 pm By Omar Faridi  |  

Silent Eight, a Regtech firm specialising in partnering with major financial institutions to drive efficiency, increased accuracy and adaptability within their financial crime programs, announced the expansion of its relationship with HSBC to “implement Automated Alert Closure for Transactions automates investigation and resolution of alerts… Read More

January 23, 2024 @ 7:01 am By Omar Faridi  |  

Satchel, a European digital banking provider, is set to enhance its compliance standards through a strategic partnership with AMLYZE, a Regtech company specializing in anti-money laundering and financial fraud prevention. Satchel’s commitment to delivering banking services, “underscored by a robust emphasis on regulatory compliance and… Read More

January 21, 2024 @ 6:06 pm By Omar Faridi  |  

2023 was a year of “recovery” for cryptocurrency, as the industry “rebounded from the scandals, blowups, and price declines of 2022,” according to an extensive update shared by Chainalysis. With crypto assets rebounding and market activity growing over the course of 2023, many believe that… Read More

January 18, 2024 @ 10:02 pm By Omar Faridi  |  

ComplyAdvantage has launched its annual report into fraud, money laundering, and financial crime: The State of Financial Crime 2024. The latest research report identifies “the criminal use of artificial intelligence (AI) as an emerging fraud challenge while revealing that most financial institutions are investing in… Read More

December 18, 2023 @ 7:50 am By Omar Faridi  |  

The laundering of “ill-gotten” cryptocurrency exerts a multifaceted impact on global financial and security landscapes, “presenting challenges for businesses, governments, and individuals alike,” according to an update from CertiK. CertiK notes in a blog post that for businesses, particularly those operating within the fintech and… Read More

December 16, 2023 @ 5:24 pm By Omar Faridi  |  

“Who’s calling now?” has become a “ubiquitous” question and a “sign of the times” for mobile users as fraud and spammers repeatedly target consumers through their phones. New research from TransUnion (NYSE:TRU) reveals that “around one-third of consumers experience fraud attempts multiple times per week,… Read More

December 12, 2023 @ 5:38 pm By Omar Faridi  |  

Policymakers need a “fuller view” of consequences of illicit flows, including tallies of the fiscal, monetary, financial, and structural costs, according to an update from the IMF. The fight against financial crime isn’t lost, but the world “needs to do more to limit the economic… Read More

December 7, 2023 @ 10:29 pm By Omar Faridi  |  

Featurespace, the enabler of enterprise-grade fraud and financial crime technology, today announces the data findings of a new report: The State of Fraud and Financial Crime in North America Annual Report 2023. The research, developed in conjunction with GlobalData, shows “that overall North American fraud… Read More

November 26, 2023 @ 10:22 am By Omar Faridi  |  

AMLYZE, a RegTech specializing in anti-financial crime solutions for FinTechs, banks and crypto businesses, and Plumery, a digital banking solution provider, have joined forces in a partnership in order “to reshape the landscape of financial technology.” With a commitment to combating financial crime, AMLYZE offers… Read More

November 24, 2023 @ 5:52 pm By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA), together with the Hong Kong Association of Banks (HKAB) and the banking sector, support the launch of the Anti-Deception Alliance (ADA) by the Hong Kong Police Force (HKPF). ADA is expected to strengthen the capability of the anti-money laundering… Read More

November 22, 2023 @ 11:08 am By Omar Faridi  |  

Revolut Head of Financial Crime is warning consumers to “stay vigilant amidst surging frauds this sale season as e-commerce scams such as fake websites become increasingly sophisticated.” Revolut’s single use virtual disposable cards, which “protect shoppers’ card details so they are never shared with vendors,… Read More

November 22, 2023 @ 8:40 am By Omar Faridi  |  

Identity fraud rose by more than a fifth this year, “amid warnings that fraudulent activity is set to peak over the Christmas shopping period.” New analysis from Experian reveals “that identity fraud rose by 22% in 2023, when compared to 2022, with the trend expected… Read More

November 18, 2023 @ 11:15 am By Omar Faridi  |  

US investment banks have less budget and workforce to devote to fighting financial crime and adhere to changing regulation, according to the 2023 KYC Banking Trends Report by Fenergo, the provider of digital solutions for Know Your Customer (KYC), Transaction Monitoring and Client Lifecycle Management… Read More

November 17, 2023 @ 6:11 pm By Omar Faridi  |  

Holiday shopping season is a favorite time of year for many, but as consumers everywhere start preparing to open their wallets ahead of Black Friday, “a new type of threat has begun rearing its ugly head: AI-based fraud.” The recent boom in AI capabilities and… Read More

November 17, 2023 @ 5:06 pm By Omar Faridi  |  

ThetaRay, a global enabler of AI-powered financial crime detection solutions, is announcing its partnership with Neema, a payments network for businesses. This collaboration marks a significant milestone in “the fight against financial crime, as it combines ThetaRay’s advanced artificial intelligence technology with Neema’s real-time payments… Read More

November 17, 2023 @ 9:03 am By Omar Faridi  |  

At Gemini, they believe that the crypto ecosystem must include guardrails and an appropriate level of transparency to protect users from financial crime and fraud. Gemini claim they have always “been dedicated to regulatory compliance and believe that adherence to the Travel Rule is an… Read More

November 16, 2023 @ 10:33 pm By Omar Faridi  |  

Feedzai, the provider of financial crime and risk management solutions, has partnered with CoreCard, the international provider of prepaid and credit technology solutions and processing services to banks and the financial technology and services market. The partnership will enhance CoreCard’s fraud detection and prevention capabilities… Read More