Finovate

APRIL 9, 2024

At the conference, Lucinity demonstrated its AI-enabled copilot, Luci , which enhances financial crime compliance via insight generation, report writing, and automation. The technology performs internet searches, background checks, fraud detection, sanctions screening, and more. hours to 25 minutes.

Automation 109

Automation AI Innovation Financial Crimes 109

The Fintech Times

JUNE 1, 2024

Even worse, the fraud landscape shows no signs of improving, as bad actors increasingly utilise AI to increase the damage done to financial organisations. However, many of the largest financial organisations worldwide are actively investigating measures to counteract these threats. Over a third of fraud attempts (42.5

SWIFT 124

SWIFT AI Fraud Detection Fraud Prevention 124

Fintech Finance

MAY 30, 2024

Pay.UK , the independent, not-for-profit operator of the UK’s national retail payments system including Faster Payments, Bacs and Direct Debit, can today announce the results of its pioneering fraud detection and prevention pilot in collaboration with partners Visa , Synectics Solutions and Featurespace.

Fraud Detection 52

Fraud Detection Overlay Service Crime Scams 52

The Fintech Times

SEPTEMBER 3, 2024

Business analytics enterprise, IBM , has unveiled new technologies designed to significantly scale processing capacity across IBM Z mainframe systems helping accelerate the use of traditional AI models and Large Language Models (LLMs).

Use Case 64

Use Case AI Innovation CHIPS 64

The Fintech Times

AUGUST 13, 2024

Identifying fraud in the age of artificial intelligence (AI) is much harder than it ever has been before. Fraudsters are more cunning and deceiving, taking advantage of those who either do not know or refuse to acknowledge the power of AI. What are some AI fraud trends we’re seeing in Latin America?

AI 59

AI Fraud Detection Fraud Prevention Deepfake 59

Fintech News

APRIL 28, 2024

The banking industry is shifting towards innovation, collaboration and customer-centricity, driven by the adoption of technologies including cloud computing, data analytics, artificial intelligence and machine learning (AI/ML), changing customer preferences, and a rapidly evolving regulatory landscape, a new report by Amazon Web Services (AWS) says.

AI 109

AI Innovation Financial Crimes Crime 109

FICO

JULY 15, 2021

The challenge for financial institutions of fighting fraud and tackling financial crime has never been greater. As the market for global payments and financial services grows, criminals develop new strategies and technologies to make illicit gains. Join the new FICO fraud community now at [link].

Financial Crimes 52

Financial Crimes Crime Fraud Detection Money Laundering 52

Fintech News

JANUARY 18, 2024

The emergence of generative artificial intelligence (AI) represents a pivotal moment in the technological evolution, significantly altering the digital financial services landscape in the Asia Pacific region. But that is just the tip of this transformational technology’s potential in financial services. trillion to US$4.4

AI 106

AI Financial Crimes Crime SWIFT 106

FICO

NOVEMBER 27, 2019

Behind the headlines on financial crime compliance are big challenges. Rapid payments, instant payments, PSD2 have been vehicles to further misuse the financial system for laundering money and harming banks, their customers and the economy worldwide. North American financial services firms nowadays spend more than $31.5

Financial Crimes 52

Financial Crimes Crime Compliance AI 52

FICO

SEPTEMBER 12, 2018

While AI has been used for more than 25 years in credit fraud detection , few people outside the banking sphere were aware of this. But as AI has become a hotter mainstream topic, the question is a logical one. In addition, the show interviewed me for a brief article on using AI and machine learning for financial crime.

Financial Crimes 45

Financial Crimes Crime AI Fraud Detection 45

FICO

DECEMBER 12, 2017

As money laundering schemes are getting more and more sophisticated, the detection and mitigation strategy has to get smarter and faster. Looking ahead to 2018, I predict a rising trend for organizations to do four things better than today in the realm of financial crime. Check out our financial crime pages.

Financial Crimes 55

Financial Crimes Crime AI Money Laundering 55

FICO

JUNE 23, 2022

The Role of Data in Managing Fraud and Financial Crime Today. Here are the highlights from the fraud management data discussion I had at FICO World 2022 with Julie Conroy, Head of Risk Insights and Advisory at Aite-Novarica Group. Fraud Detection and AML Collaboration. Tue, 07/02/2019 - 02:45. by TJ Horan.

Financial Crimes 52

Financial Crimes Crime AML Fraud Detection 52

FICO

SEPTEMBER 19, 2018

While AI has been used for more than 25 years in credit fraud detection , few people outside the banking sphere were aware of this. But as AI has become a hotter mainstream topic, the question is a logical one. In addition, the show interviewed me for a brief article on using AI and machine learning for financial crime.

Financial Crimes 40

Financial Crimes Crime AI Fraud Detection 40

The Paypers

NOVEMBER 15, 2023

AI anti-fraud detection software company, Lynx , has recently announced it secured a Series A funding round of EUR 17 million, with the participation of Forgepoint Capital.

Financial Crimes 36

Financial Crimes Fraud Detection Crime Participant 36

PYMNTS

MAY 25, 2020

Digital fraud and other forms of financial crime are also on the rise due to the uncertainty and confusion surrounding the crisis. Twenty-two percent of Americans have reported being targeted by COVID-19-related fraud, and these scams have seen more than $1.2 COVID-19-Related Fraud.

Financial Crimes 67

Financial Crimes Crime Scams Fraud Prevention 67

Fintech News

JUNE 3, 2024

A 2023 research by Moody’s Analytics revealed a wealth of corporate structures enabling sanctions evasion, money laundering, fraud, and other financial crimes. Though still in early stages, the report notes that some banks are starting to use gen AI to enhance risk management insights and scores.

Money Laundering 122

Money Laundering Financial Crimes Crime APACS 122

Fi911

DECEMBER 19, 2023

In finance, AI’s role is becoming increasingly pivotal, particularly in fraud prevention and management. As digital banking services grow in popularity, the unfortunate byproduct is a corresponding rise in fraud. This trend underscores the question: Can AI truly integrate into the financial sector effectively?

Fraud Prevention 85

Fraud Prevention Fraud Detection Point-of-Sale (POS) Online and Mobile Banking 85

FICO

JANUARY 5, 2021

What else made for the hottest reads in 2020 for fraud and financial crime? Here were our top 5 posts: #1: Fraud And Financial Crime Convergence. TJ Horan reported on a key takeaway from the Aite Financial Crime Forum : lenders are serious about combining their fraud and financial crime protection systems.

Financial Crimes 52

Financial Crimes Crime Posting Scams 52

Fintech Finance

FEBRUARY 15, 2024

Resistant AI’s document fraud detection solution seamlessly integrates into Verto’s existing systems to provide rapid and reliable document authentication, and support its growth into new markets without escalating risks.

Cross-Border Payments 52

Cross-Border Payments Cross-Border Verification AI 52

Finovate

SEPTEMBER 26, 2024

Visa is acquiring fraud prevention company Featurespace to enhance its own fraud detection and risk-scoring solutions. Financial terms of the deal, which is subject to closing conditions and regulatory approvals, were not disclosed. based company offers AI-based tools that analyze transaction data to detect fraud.

Acquirers 64

Acquirers Fraud Detection Fraud Prevention Debit Card 64

Seon

JUNE 27, 2024

We don’t know what AI will look like one year from today. Such uncertainty is unwelcome in cybersecurity and fraud. The evolution of AI adds layers of complexity, presenting unprecedented opportunities and significant threats. Fight Evolving Fraud Discover how fraud tactics are changing and how to stay ahead.

Cybersecurity 52

Cybersecurity Fraud Detection Identity Theft Money Laundering 52

Global Fintech & Digital Assets

NOVEMBER 1, 2023

As regulatory thinking evolves, firms must ensure that any current or planned use of AI complies with regulatory expectations. The FCA recently highlighted that we are reaching a tipping point whereby the UK government and sectoral regulators need to decide how to regulate and oversee the use of AI. By Fiona M.

AI 52

AI Regulations Financial Crimes Governance 52

FICO

DECEMBER 10, 2020

Last year I predicted that artificial intelligence (AI) would grow up , with major infrastructure developing around Responsible AI , AI advocacy and AI governance. These and other milestones have come to pass, pushing enterprise-scale AI solidly into the “early adoption” phase, as defined by “Chasm” author Geoffrey Moore.

AI 98

AI Fraud Detection Payment APIs and Integration On-Demand 98

Seon

JULY 11, 2024

Guest panelists included James Nurse, Managing Director at FINTRAIL; Hannah Becher, Lead of Fraud and AML Surveillance at Pleo; Matthew Tataryn, Director of Financial Crime Risk at Tide Platform; and Jeremy Doyle, Director of Growth, AML Solutions at SEON. Below are the top takeaways from the discussion: 1.

Fraud Prevention 52

Fraud Prevention AML Money Laundering Financial Crimes 52

The Fintech Times

SEPTEMBER 11, 2024

Between 2022 and 2023, fraud in the region increased by 24 per cent, driven by large-scale attacks, including a targeted onboarding attack involving over 5,000 fraudulent attempts in Q2 2024. per cent of all transactions being fraudulent.

Bots 59

Bots Deepfake Automation APACS 59

The Payments Association

OCTOBER 22, 2024

It aims to protect consumers from authorised push payment (APP) fraud but raises concerns about the adequacy of protection for larger fraud cases. Financial institutions must adopt AI-driven solutions and collaborate closely to proactively combat evolving fraud threats. What’s next?

Rules 88

Rules Fraud Prevention Deepfake Caps 88

Fintech News

MAY 20, 2024

As regulatory expectations continue to evolve, it’s crucial for organizations to stay ahead of the curve and adapt their compliance strategies to mitigate financial crime risks effectively. Experts anticipate that by 2028, the majority of banking, investment, and insurance processes will be assisted or driven by AI technologies.

FinTech 133

FinTech Embedded Finance BNPL AI 133

Bank Automation

NOVEMBER 21, 2023

Anti-fraud and anti-money laundering companies are looking to AI to increase the efficiency of their detection models as digital fraud becomes more pervasive.

Account Takeovers 74

Account Takeovers Accounts Money Laundering Financial Crimes 74

The Fintech Times

FEBRUARY 21, 2024

Crossthwaite added: “While we hope the introduction of the Government’s Online Fraud Charter will encourage the technology sector to narrow the opportunities for online fraud, the sad reality is that the fraudsters will be looking to stay one step ahead by exploiting new options like AI.

Financial Crimes 59

Financial Crimes Crime Compliance Scams 59

The Fintech Times

MARCH 27, 2024

“To identify potential front and shell companies, financial services firms need to actively monitor transaction volumes and frequencies, while examining clients and counterparties for high-risk indicators such as locations of owners and controllers.

Money Laundering 93

Money Laundering Financial Crimes Crime Due Diligence 93

FICO

OCTOBER 11, 2017

I’m convinced we are entering the Golden Age of artificial intelligence (AI); with so much promise and potential in front of us, I am feeling a little like Neo in The Matrix as he swallows the red pill. This is needed, because AI-based attacks are not science fiction — they are happening today. Why We Need Defensive AI.

AI 110

AI Law Enforcement Fraud Detection Non-Bank 110

The Paypers

DECEMBER 18, 2017

(The Paypers) Financial crime detecting platform QuantaVerse has added a new AI-based service to allow its financial institutions and banking clients detect fraud and other crimes through audit investigations.

Fraud Detection 31

Fraud Detection AI Financial Crimes Crime 31

The Fintech Times

DECEMBER 28, 2023

It’s a difficult task, but new online fraud prevention tools are making it easier.” ” Top priority Rory Doyle, head of financial crime policy, Fenergo Rory Doyle , head of financial crime policy at financial compliance software provider Fenergo, says fraud prevention must be prioritised by British financial institutions in 2024.

Fraud Prevention 81

Fraud Prevention Scams Fraud Detection Regulatory Compliance 81

FICO

JANUARY 12, 2022

From fraud and financial crimes technology convergence to the need for explainability in your technology (particularly your AI/ML model outcomes), there is no shortage of thorny, complex issues to tackle in your own enterprise fraud management. Fraud and Financial Crime Technology Convergence.

Technology 52

Technology Financial Crimes Crime Fraud Detection 52

Fintech Finance

AUGUST 2, 2024

Leveraging machine learning and AI, the platform offers comprehensive monitoring and fraud detection capabilities. ComplyTek’s advancements in AI have significantly contributed to its recent industry recognition.

Instant Payments 94

Instant Payments Transactions Payment APIs and Integration Compliance 94

The Fintech Times

JULY 3, 2024

Seventy-seven per cent of all APP fraud cases originate online through platforms like Meta , which rake in billions of dollars in profits each year. They should focus their investment on exploring new technologies such as AI and data-driven, persona-based approaches, which can flag suspicious transactions and stop them before it’s too late.

Scams 105

Scams Financial Crimes Due Diligence Crime 105

FICO

SEPTEMBER 20, 2022

Fighting Fraud with Responsible AI: My Talk with Dr. Scott Zoldi. FICO fraud expert TJ Horan talks fraud management and responsible AI with FICO's Chief Analytics Officer, Dr. Scott Zoldi. Scott’s also authored more than 120 software patents , with a raft of them related to AI. FICO Admin. by TJ Horan.

AI 52

AI Financial Crimes Rules Adjustments 52