Financial crime stories

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.

A report reveals that over 50% of financial institutions in Asia are failing to adopt AI for anti-money laundering, risking exposure to financial crime.

The persistent ability of criminals to exploit legitimate structures to launder money has banks and others on the hunt for new tools and techniques to counter the threat.

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.

BioCatch's latest report on APAC digital banking fraud trends reveals a 70% rise in mobile app fraud and a dramatic 108% surge in voice scams, alongside a notable decline in fraud losses in Australia.

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.

A BioCatch study reveals that artificial intelligence (AI) is increasingly used by criminals for financial crime and digital fraud, posing significant challenges to global financial institutions.

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.