Fintech News

FEBRUARY 21, 2024

This development is set against the backdrop of evolving financial crimes, which increasingly involve complex, multi-jurisdictional operations. Featured image credit: Edited from Freepik The post How Will MAS New Amendments Impact Financial Crime Enforcement appeared first on Fintech Singapore.

Financial Crimes 112

Financial Crimes Crime Authorization Consulting 112

The Payments Association

JULY 15, 2024

A deep dive into the Financial Crime 360 survey, highlighting key challenges, prevalent fraud types, and strategic responses across various financial sectors Read more

Financial Crimes 88

Financial Crimes Crime 88

The Payments Association

MAY 20, 2024

On 25 April 2024, the FCA proposed significant updates to its Financial Crime Guide, aiming to enhance clarity and compliance for financial and cryptoasset firms. Read more

Financial Crimes 88

Financial Crimes Crime Compliance Consulting 88

The Payments Association

FEBRUARY 22, 2024

There is an increasing need for enhanced data sharing in the payments industry to combat the rising threat of financial crime, specifically money laundering and online-enabled fraud. Read more

Financial Crimes 88

Financial Crimes Crime Money Laundering Payments 88

FloQast

MAY 2, 2024

Given the analytical nature of our profession, it should come as no surprise that we’re also huge on true crime. So, today, we’re especially proud to announce our first-ever true crime podcast, Fraud Files: The Rise & Fall of Dawn J. and an accomplished author, season one takes a deep dive into the life and crimes of Dawn J.

Crime 101

Crime Due Diligence Advisors Agreements 101

Fintech News

FEBRUARY 15, 2024

These data, released preliminarily in anticipation of the upcoming Chainalysis 2024 Crypto Crime Report, reveal that 2023 was a year of recovery for the cryptocurrency industry as the sector rebounded from the scandals, business collapses and price declines that took place in 2022. The crypto is up 9% from the start of 2024.

Ransomware 109

Ransomware Crime Transactions Romance Scams 109

The Payments Association

APRIL 24, 2024

ComplyAdvantage acquires Golden to enhance its AI-driven financial crime risk management solutions with advanced data integration capabilities Read more

Financial Crimes 88

Financial Crimes Crime Acquirers Risk Management 88

The Paypers

FEBRUARY 26, 2024

The Financial Action Task Force (FATF) has announced that it has dropped the UAE from its grey list regarding concerns about financial crime and money laundering.

Financial Crimes 90

Financial Crimes Crime Money Laundering 90

The Payments Association

JUNE 7, 2024

AI's data analysis superpowers are revolutionising financial crime prevention, spotting fraud patterns in real-time, even for small transactions, but good data and industry collaboration are key. Read more

Financial Crimes 88

Financial Crimes Crime AI Transactions 88

The Payments Association

JUNE 7, 2024

With Financial Crime 360 around the corner, Payments Review spoke to some of the leading figures working tirelessly to combat the growing issue of financial crime within the payments ecosystem. Read more

Financial Crimes 88

Financial Crimes Crime Payments 88

The Payments Association

SEPTEMBER 10, 2024

The Financial Crime 360 survey reveals how the industry is tackling evolving threats like AI-driven fraud, emphasising the need for collaboration, innovation, and updated regulations to effectively combat financial crime in 2024. Read more

Financial Crimes 88

Financial Crimes Crime AI Regulations 88

Fintech News

MAY 22, 2024

Over the past years, financial crime tech has risen to prominence, driven by increasing complexity and frequency of financial crimes, stricter regulations and compliance requirements, and technological advancements. Today, we delve into these firms’ offerings, recent strides and contributions to the field.

Financial Crimes 85

Financial Crimes Crime APACS Risk Assessment 85

The Payments Association

DECEMBER 7, 2023

The Payments Association’s annual Financial Crime 360 conference took place at the Royal Lancaster Hotel in London on Tuesday, 21 November. Hundreds of industry professionals from across the payments industry heard from some of the sector’s most important voices on the ever-present issue of financial crime and its solutions.

Financial Crimes 88

Financial Crimes Crime Payments 88

Payments Source

SEPTEMBER 24, 2020

As many businesses and consumers have been forced to deal with the difficult conditions thrust upon them by the COVID-19 pandemic, so too have fraudsters needed to make adjustments just to continue their life of crime.

Crime 205

Crime Adjustments Payments Continuity 205

The Paypers

OCTOBER 2, 2024

The Financial Conduct Authority has imposed a GBP 29 million fine on Starling Bank as the latter did not meet financial crime systems and controls requirements.

Financial Crimes 74

Financial Crimes Crime Authorization 74

Payments Source

DECEMBER 13, 2020

The e-commerce expansion borne out of the pandemic heightens the balancing act between security and user experience, a challenge Forter and Nuvei hope to address through a mix of data analysis and an expansive network of merchants.

Crime 160

Crime Addressing Security Payments 160

Finovate

DECEMBER 11, 2024

ThetaRay launched GenAI Financial Crime Detection Suite. The GenAI Financial Crime Detection Suite enables financial institutions to improve AML efforts, streamline compliance, and proactively manage risk indicators. The service allows clients to adapt the models to their specific task or use case. Vice President Yina Arenas.

Financial Crimes 59

Financial Crimes Crime Money Laundering Risk Assessment 59

The Paypers

SEPTEMBER 25, 2024

A recent report by RedCompass Labs has revealed that US banks believe they are significantly behind criminals when it comes to detecting financial crimes.

Financial Crimes 69

Financial Crimes Crime 69

The Fintech Times

SEPTEMBER 25, 2024

Despite conceding that that criminals have an eight-month head start, 75 per cent of banks feel confident they can close this gap and 25 per cent feel they could ‘maybe’ catch up and reduce the abundance of financial crimes. The research, ‘ Financial crime detection: What holds banks back? ‘An error of focus.

Financial Crimes 69

Financial Crimes Crime AI Addressing 69

Fintech News

OCTOBER 21, 2024

This funding will support Tookitaki’s expansion across key Asian markets and bolster its financial crime prevention technology. Tookitaki’s platform, FinCense, uses AI to help institutions detect and address financial crime more effectively.

Financial Crimes 130

Financial Crimes Security Crime Cross-Border Payments 130

Neopay

DECEMBER 5, 2024

The Financial Conduct Authority (FCA) has issued important updates to its Financial Crime Guide, following a public consultation on proposed changes. How Neopay can support your firm The FCA’s changes mean that firms must reassess and potentially update their financial crime systems and controls.

Financial Crimes 52

Financial Crimes Crime Money Laundering Risk Assessment 52

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. Suspected proceeds of crime totaling S$1.23 The firm identified over 21 million risk activities across 472 million companies as of November 2023.

Money Laundering 122

Money Laundering Financial Crimes Crime APACS 122

Finextra

OCTOBER 23, 2024

In a conversation ahead of Sibos 2024, Laura Quevedo, Executive Vice President of Financial Crime and Resiliency at Mastercard, highlights the growing threat of financial scams in the digital age, with cybercriminals increasingly using AI to exploit consumers.

Financial Crimes 59

Financial Crimes Crime AI Fraud Detection 59

Finextra

NOVEMBER 28, 2024

European RegTech scale-up Salv has announced the launch of its Collaborative Scenario Library, an innovative tool designed to help AML teams improve their transaction and customer monitoring in order to catch more financial crime.

Financial Crimes 52

Financial Crimes Crime AML Innovation 52

Neopay

NOVEMBER 13, 2024

The Financial Conduct Authority (FCA) recently levied a substantial £16,675,200 fine against Metro Bank PLC (Metro) for significant shortcomings in its financial crime prevention systems and controls. This deficiency persisted until December 2020, leaving over four and a half years with potential gaps in financial crime oversight.

Financial Crimes 52

Financial Crimes Crime Due Diligence Compliance 52

Finextra

NOVEMBER 12, 2024

million for financial crime failings after a new transaction monitoring system implemented in 2016 went on the blink. The UK's Financial Conduct Authority has fined Metro Bank £16.7

Financial Crimes 59

Financial Crimes Crime Authorization Transactions 59

Fintech Finance

JUNE 20, 2024

Flutterwave , Africa’s leading payments technology company, has committed to partnering with Nigeria’s Economic and Financial Crimes Commission (EFCC) to establish and lead a state-of-the-art Cybercrime Research Center.

Financial Crimes 97

Financial Crimes Crime FBI Law Enforcement 97

Fintech News

FEBRUARY 14, 2024

Lee brings extensive experience in regulatory technology and anti-financial crime, with previous positions at Thomson Reuters, LSEG, Refinitiv and Napier Technologies, where he spearheaded the APAC division. They’re an exceptional group of people, combining world-class technologists and seasoned financial crime-fighters.

APACS 112

APACS AI Financial Crimes Money Laundering 112

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. “And with that story, we’re enabling the financial crime investigators to take the investigation time from hours to minutes.” hours to 25 minutes.

Automation 109

Automation Innovation AI Financial Crimes 109

Finextra

AUGUST 5, 2024

The UK's National Crime Agency has shut down a platform used by hundreds of criminals to defraud victims across the world through the use of spoofed phone calls.

Scams 118

Scams Crime 118

The Payments Association

APRIL 24, 2024

The 2024 assessment reveals evolving financial crime trends, including AI fraud and social media exploitation, providing crucial insights for payment firms to fortify consumer trust and operational security. Read more

Financial Crimes 100

Financial Crimes Crime Assessments AI 100

Fintech Finance

AUGUST 5, 2024

David is a technology visionary in the fields of identity, data, and combating financial crime and fraud, with a diverse background that includes experience in startups, scale-ups, consulting, and corporations. He will assume his position on August 19, 2024. He will have a key role as we continue diversifying our operations into new areas.

Technology 124

Technology Financial Crimes Verification Crime 124

Finovate

AUGUST 26, 2024

As summer draws to a close, there may be a big acquisition on the horizon in the fraud and financial crime prevention space. Fraud and financial crime prevention Is Visa looking to acquire fraud fighting platform Featurespace ? Be sure to check in with Finovate’s Fintech Rundown all week long for the latest in fintech news.

FinTech 115

FinTech Financial Crimes Crime Payroll 115

Fintech News

AUGUST 21, 2024

This activity hindered efforts to track and regulate the flow of funds, posing significant challenges for authorities in combating financial crimes. Authorities emphasized the seriousness of such crimes, warning the public against allowing their bank or Singpass accounts to be used for illicit purposes.

Accounts 107

Accounts Financial Crimes Scams Freeze Account 107

Finextra

NOVEMBER 12, 2024

This enhancement equips financial institutions with real-time vessel tracking and AI-driven monitoring, both crucial for addressing the escalating challenges of trade-based financial crime.

Financial Crimes 52

Financial Crimes Crime AI Addressing 52

Fintech Finance

AUGUST 1, 2024

PAYSTRAX , the payment processing solution for merchants across the EU and UK, has teamed up with global fraud and financial crime prevention company Featurespace to enhance security measures against fraudulent activities. In partnership we can identify and stop fraud and financial crime and make the world a safer place to transact.”

Fraud Prevention 98

Fraud Prevention Financial Crimes Crime Technology 98

Fintech News

JUNE 23, 2024

Since the last assessment in 2014, Singapore has closely monitored ML risks, including those related to legal persons, virtual assets, and environmental crimes, to ensure timely risk mitigation.

Money Laundering 107

Money Laundering Risk Crime Law Enforcement 107