Financial crime stories - Page 9

Moody's highlights a six-year high in romance scams, unveiling 1,193 new entities globally in 2024, with the US leading at 38% of cases.

The future of financial crime prevention is being reshaped by AI and quantum computing, presenting both opportunities and risks, says Efficient Frontiers International.

The UK aims to lead in artificial intelligence with a new AI Opportunities Action Plan and GBP £14 billion investment from tech firms to enhance various sectors.

Bureau has raised USD $30 million in a Series B funding round, aiming to tackle the global fraud crisis, which costs USD $486 billion each year.

A new report reveals banks using Corporate Digital Identity reduce onboarding time by 32%, enhancing compliance accuracy and operational efficiency.

Financial crime is set to cost global economies USD $485.6 billion in 2023, prompting calls for Corporate Digital Identity to enhance fraud prevention.

SentinelLabs reveals North Korean operatives are masquerading as foreign IT professionals to infiltrate global tech markets and bypass sanctions.

EFI advises financial institutions on five key considerations for outsourcing AML operations amid rising regulatory pressures and operational costs.

The Entrust Cybersecurity Institute's 2025 report reveals AI-assisted fraud incidents surged, with deepfake attacks hitting every five minutes in 2024.

Microsoft's Digital Defense Report highlights a rise in cyber threats, naming Australia as the sixth most targeted nation with a 2.75-fold increase in ransomware.

Kaspersky has identified 547 dark web listings for software vulnerability exploits from January 2023 to September 2024, with average prices hitting $100,000.

Fraudulent banking transactions in the UK could hit GBP $38 million over the next five years, warns Juniper Research, as the country battles a 111% surge in financial crime.

HSBC and BNY Mellon join Quantexa's Lighthouse Programme to deploy Q Assist, a context-aware generative AI suite, debuting at London Tech Week to optimise financial services.

Lucinity unveils an advanced AI copilot plug-in at Money2020 Europe, promising instant ROI and up to 90% productivity boosts for financial institutions.

A new report by IFX Payments reveals that 78% of UK SMEs are set to expand globally despite facing challenges from ring-fencing regulations and Brexit.

Innovate Finance, City of London Corporation, and Encompass Corporation launch a RegTech Platform to expedite fintech initiatives, provide guidance to RegTech providers, and address sector challenges.

Dow Jones Risk and Compliance is set to launch an AI-powered research platform, Dow Jones Integrity Check, promising to revolutionise diligence reports.

Neil Acworth steps into the role of Chief Information Security Officer at Encompass Corporation, bolstering the firm's commitment to delivering robust, data-centred financial security measures.

Specialist in compliance technology, Encompass Corporation, earns 'One to Watch' status from Chartis Research's FCC50 list, highlighting performance in battling financial crime.

London's Ripjar launches Compliance CoPilot, an AI-risk management assistant, aiming to revolutionise threat monitoring.