Tag : financial crime
Financial Frauds and Digital Safety Continue to Hound Banks
Online fraud and financial crime prevention platform, SEON has released its latest ‘Global Banking Fraud Index’, which analyzes the cost of fraud to banks and other financial institutions around the world in 2023.  Notably, the new review by SEON highlights the following:  The value of the global neobank market......
ComplyAdvantage Takes on Payment Fraud with New AI-powered Solution
Fraud Detection uses innovative machine learning algorithms to identify and prevent transaction fraud Criminals have never had more avenues through which to defraud people. This has been fueled by the proliferation of technology ranging from instant messaging to new forms of remittance, like P2P and real-time payments. That’s why ComplyAdvantage,......
Cable Raises $11 Million to Automate Effectiveness Testing of Financial Crime Controls
Cable’s effectiveness testing platform is in demand by more customers, with regulatory scrutiny and volatility escalating across the banking landscape Cable, provider of the all-in-one financial crime effectiveness testing platform, raised an $11M Series A from Stage 2 Capital and Jump Capital, with ongoing involvement from previous investors CRV. The......
Mama Money and Incode Partnership Revolutionizes Customer Verification for Cross-Border Payments
Incorporating robust, multinational identity verification to combat fraud and financial crime while improving the customer experience and scalability across EMEAÂ Mama Money, a rapidly growing fintech offering cross-border money transfers and banking services, and Incode, the global leader in revolutionary identity solutions, announced their partnership to bring advanced identity verification......
Alviere & Hawk AI Bring AI to the Global Battle Against Money Laundering
Hawk AI’s AML Solutions Elevate Anti-Money Laundering Technology in Alviere Embedded Finance Platform Alviere, the leading embedded finance platform provider, announced that it has selected Hawk AI, a leading global provider of anti-money laundering (AML) and fraud prevention technology for banks and payment companies, as an AI-powered surveillance suite provider......
Castellum.AI Launches World’s First Free AML/KYC Check
In an industry first, compliance platform Castellum.AI empowers financial crime fighters globally with free AML/KYC screening Compliance platform Castellum.AI announced the release of its Free Anti-Money Laundering/Know Your Customer (AML/KYC) Check. Castellum.AI already has the most accurate, reliable and fastest risk data globally and this latest release allows for frictionless......
Deloitte and Riskified Partner to Help eCommerce Merchants Analyze Their Fraud Exposure Against Industry Benchmarks
Riskified, a leader in eCommerce risk intelligence, announced its partnership with Deloitte, a leader in fraud and financial crime advisory services, to empower merchants with real-time insight into how their chargebacks, approval rates and fraud costs compare to similar companies in their space. This benchmarking service is an industry first,......
ACAMS Launches Scholarship Program for Korean Professionals Seeking Anti-Money Laundering Training
CAMS Scholarship recipients will train on strategies to identify, trace, and report criminal activity threatening financial institutions across the globe As part of its efforts to support the fight against financial crime throughout the Asia Pacific region, ACAMS is launching a new scholarship program for South Korean compliance professionals seeking......
Unicorn Alloy, A US fintech Launches In UK
Fraud is a more serious threat than ever before: 91% of financial institutions said that fraud has increased year-on-year, and 71% increased their spending on fraud prevention, according to recent Alloy data. In the UK alone, bank fraud cost consumers almost £610M in the first half of 2022. With Alloy,......