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Financial crime stories

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North Korean operatives exposed in global tech job scam
Last week
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malware
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cryptocurrency
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blockchain
SentinelLabs reveals North Korean operatives are masquerading as foreign IT professionals to infiltrate global tech markets and bypass sanctions.
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Outsourcing AML: Five key factors for financial firms
Last week
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outsourcing
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financial institutions
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aml
EFI advises financial institutions on five key considerations for outsourcing AML operations amid rising regulatory pressures and operational costs.
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SAS campaigns for anti-fraud AI during awareness week
Last week
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data analytics
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digital transformation
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cx
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.
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AI-driven fraud & deepfakes pose escalating global threat
Last week
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cryptocurrency
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blockchain
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phishing
The Entrust Cybersecurity Institute's 2025 report reveals AI-assisted fraud incidents surged, with deepfake attacks hitting every five minutes in 2024.
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CommBank app updates enhance security against scams
Last week
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cryptocurrency
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fintech
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blockchain
CommBank has unveiled new security features for its mobile app, including digital wallet reviews and scam warnings, to enhance customer protection against fraud.
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Asian banks face rising crime threat due to low AI use
Last month
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digital transformation
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genai
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ai
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.
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Busting money laundering in Australia is dependent on making better data connections
Last month
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genai
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ai
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money laundering
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.
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Microsoft warns of AI-driven cyber threats & ransomware rise
Last month
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ransomware
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phishing
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email security
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.
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Dark web sees surge in pricey software exploit listings
Last month
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advanced persistent threat protection
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cybersecurity
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kaspersky
Kaspersky has identified 547 dark web listings for software vulnerability exploits from January 2023 to September 2024, with average prices hitting $100,000.
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UK banking fraud predicted to exceed GBP $38 million by 2029
Tue, 9th Jul 2024
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biometrics
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data sharing
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analyst report
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.
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BioCatch report underscores evolving fraud landscape in APAC
Wed, 26th Jun 2024
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endpoint protection
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fintech
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email security
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.
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HSBC & BNY Mellon to pilot Quantexa's new AI technology
Tue, 11th Jun 2024
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risk & compliance
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genai
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llms
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.
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Lucinity launches AI copilot plug-in at Money2020 Europe
Mon, 10th Jun 2024
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crm
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fintech
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rpa
Lucinity unveils an advanced AI copilot plug-in at Money2020 Europe, promising instant ROI and up to 90% productivity boosts for financial institutions.
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UK SMEs eye global expansion despite banking challenges
Thu, 6th Jun 2024
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fintech
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brexit
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regulation
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.
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AI's role in global digital fraud exposed by BioCatch study
Wed, 1st May 2024
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ai
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cyber criminal
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digitisation
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.
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Innovate Finance collaborates to speed up RegTech industry initiatives
Mon, 15th Apr 2024
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fintech
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collaboration
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digital initiatives
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.
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Dow Jones to launch AI-powered platform to revolutionise due diligence
Wed, 10th Apr 2024
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risk & compliance
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genai
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ai
Dow Jones Risk and Compliance is set to launch an AI-powered research platform, Dow Jones Integrity Check, promising to revolutionise diligence reports.
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Encompass appoints Neil Acworth as new Chief Information Security Officer
Wed, 27th Mar 2024
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risk & compliance
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cloud services
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cto
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.
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Encompass Corporation named 'One to Watch' in FCC50 list by Chartis Research
Tue, 19th Mar 2024
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digital transformation
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risk & compliance
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encompass
Specialist in compliance technology, Encompass Corporation, earns 'One to Watch' status from Chartis Research's FCC50 list, highlighting performance in battling financial crime.
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Ripjar unveils Compliance CoPilot for risk monitoring
Thu, 14th Mar 2024
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genai
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llms
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ai
London's Ripjar launches Compliance CoPilot, an AI-risk management assistant, aiming to revolutionise threat monitoring.