Financial crime Stories - Page 21

Global Stories

Financial crime stories

Exclusive: GBG's Carol Chris on innovation, fraud prevention and growth

Carol Chris, General Manager of GBG APAC, emphasises innovation in fraud prevention amid rising data breaches, as demand for compliance solutions grows.

By Melania Watson • 5 min read • Fri, 14th Mar 2025

Unified Communications

Omri Kletter joins Outpost24 as chief product officer

Outpost24 has appointed Omri Kletter as Chief Product Officer, aiming to enhance its cyber risk management solutions and support growth heading into 2025.

By Moritz Florian • 3 min read • Fri, 28th Feb 2025

Risk & Compliance

Survey reveals slow adoption of AI in anti-money laundering

A survey by SAS and KPMG reveals sluggish AI and ML adoption in anti-money laundering, with only 18% of financial institutions fully implementing these technologies.

By Sean Mitchell • 4 min read • Wed, 26th Feb 2025

Social Media

Romance scams reach six-year high, Moody's reports

Moody's highlights a six-year high in romance scams, unveiling 1,193 new entities globally in 2024, with the US leading at 38% of cases.

By Shannon Williams • 3 min read • Thu, 13th Feb 2025

Advanced Persistent Threat Protection

Key Cyber Security Trends to Watch in 2025

As the cybersecurity landscape evolves, organisations must adapt to emerging trends in 2025, prioritising cloud solutions, AI risks, and skills shortages.

By Les Williamson • 5 min read • Thu, 30th Jan 2025

Quantum Computing

AI revolutionising financial crime detection by 2025

The future of financial crime prevention is being reshaped by AI and quantum computing, presenting both opportunities and risks, says Efficient Frontiers International.

By Shannon Williams • 4 min read • Mon, 27th Jan 2025

Gaming

Bureau raises USD $30m Series B amid soaring fraud costs

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.

By Sean Mitchell • 3 min read • Thu, 19th Dec 2024

Clean technologies

Banks cut onboarding time by 32% with digital identity

A new report reveals banks using Corporate Digital Identity reduce onboarding time by 32%, enhancing compliance accuracy and operational efficiency.

By Sean Mitchell • 2 min read • Wed, 4th Dec 2024

Malware

North Korean operatives exposed in global tech job scam

SentinelLabs reveals North Korean operatives are masquerading as foreign IT professionals to infiltrate global tech markets and bypass sanctions.

By Shannon Williams • 3 min read • Fri, 22nd Nov 2024

Crypto

AI-driven fraud & deepfakes pose escalating global threat

The Entrust Cybersecurity Institute's 2025 report reveals AI-assisted fraud incidents surged, with deepfake attacks hitting every five minutes in 2024.

By Sean Mitchell • 3 min read • Wed, 20th Nov 2024

Unified Communications

Microsoft warns of AI-driven cyber threats & ransomware rise

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.

By Shannon Williams • 3 min read • Thu, 17th Oct 2024

Advanced Persistent Threat Protection

Dark web sees surge in pricey software exploit listings

Kaspersky has identified 547 dark web listings for software vulnerability exploits from January 2023 to September 2024, with average prices hitting $100,000.

By Shannon Williams • 3 min read • Thu, 10th Oct 2024

Stories from Other Regions

Financial crime stories

Credit card fraud

UK sees 63% rise in savings accounts used for fraud

Reports indicate a staggering 63% rise in the misuse of savings accounts for fraud in the UK last year, outpacing a 12% increase in current accounts.

By Shannon Williams • 3 min read • Fri, 7th Mar 2025

Customer Experience

UK unveils £14 billion AI plan with tech sector backing

The UK aims to lead in artificial intelligence with a new AI Opportunities Action Plan and GBP £14 billion investment from tech firms to enhance various sectors.

By Shannon Williams • 3 min read • Wed, 22nd Jan 2025

Money Laundering

Corporate Digital Identity: a tool to combat financial crime

Financial crime is set to cost global economies USD $485.6 billion in 2023, prompting calls for Corporate Digital Identity to enhance fraud prevention.

By Melania Watson • 3 min read • Fri, 29th Nov 2024

Outsourcing

Outsourcing AML: Five key factors for financial firms

EFI advises financial institutions on five key considerations for outsourcing AML operations amid rising regulatory pressures and operational costs.

By Sean Mitchell • 3 min read • Thu, 21st Nov 2024

Data Analytics

SAS campaigns for anti-fraud AI during awareness week

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.

By Sean Mitchell • 2 min read • Thu, 21st Nov 2024

Crypto

CommBank app updates enhance security against scams

CommBank has unveiled new security features for its mobile app, including digital wallet reviews and scam warnings, to enhance customer protection against fraud.

By Sean Mitchell • 2 min read • Mon, 18th Nov 2024

Digital Transformation

Asian banks face rising crime threat due to low AI use

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.

By Melania Watson • 3 min read • Tue, 29th Oct 2024

Generative AI

Busting money laundering in Australia is dependent on making better data connections

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.

By Peter Philipp • 5 min read • Thu, 24th Oct 2024