Financial crime stories

An Infoblox investigation exposes how recruitment scams on Telegram target Australians with fake jobs, demanding crypto payments to continue employment.

UK mobile banking fraud surged 11% in 2024 as scammers shift from voice scams, with card fraud and remote iOS attacks also on the rise, reports BioCatch.

Revolut's latest report reveals Meta platforms are the primary source of scams affecting consumers, with reported cases rising significantly in Australia and globally.

Bybit suffered a major hack, exposing vulnerabilities from human error rather than blockchain flaws, as attackers manipulated staff to divert funds.

Carol Chris, General Manager of GBG APAC, emphasises innovation in fraud prevention amid rising data breaches, as demand for compliance solutions grows.

Reports indicate a staggering 63% rise in the misuse of savings accounts for fraud in the UK last year, outpacing a 12% increase in current accounts.

Outpost24 has appointed Omri Kletter as Chief Product Officer, aiming to enhance its cyber risk management solutions and support growth heading into 2025.

A survey by SAS and KPMG reveals sluggish AI and ML adoption in anti-money laundering, with only 18% of financial institutions fully implementing these technologies.

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.

As the cybersecurity landscape evolves, organisations must adapt to emerging trends in 2025, prioritising cloud solutions, AI risks, and skills shortages.

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.

SAS teams up with the Association of Certified Fraud Examiners to advocate for anti-fraud AI during International Fraud Awareness Week amid rising fraud tactics.

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

CommBank has unveiled new security features for its mobile app, including digital wallet reviews and scam warnings, to enhance customer protection against fraud.