Remove 2022 Remove Crime Remove Fraud Detection
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Hawk Raises $56 Million in Series C Funding to Help Banks Fight Financial Crime

Finovate

Hawk made its Finovate debut at FinovateSpring 2022 in San Francisco. Hawk , a company offering AI-powered anti-money laundering (AML), screening, and fraud prevention solutions, has secured $56 million in Series C funding. This drives up the cost of fighting financial crime. The company was founded in 2018.

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The platform risk paradox: Managing digital commerce fraud at scale

The Payments Association

The scale of the threat Fraud in digital commerce is no longer a marginal loss—it is a systemic, expanding threat. UK card fraud alone reached £396 million in 2022, with friendly fraud responsible for most chargebacks. Global e-commerce fraud is projected to surpass $100 billion by 2029.

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The Journey of Payments and Clearing Systems in India

Finextra

UPI Dominance: UPI continues to set global benchmarks, accounting for nearly 46% of all global real-time digital transactions in 2022. for card details), and promotes robust fraud detection and resolution mechanisms. Future Vision: Increased use of AI and machine learning for real-time fraud detection and prevention.

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Tackling money mule activity: Takeaways from the FCA’s review

Neopay

The Financial Conduct Authority (FCA) has recently published its findings on how firms are using the National Fraud Database (NFD) and money mule account detection tools to combat financial crime. The National Economic Crime Plan (2023-2026) has identified money mules as a major enabler of fraud and other criminal activities.

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Banking on Intelligence: The Global Sprint to AI Maturity in Finance

Finextra

On the risk and operations side, common uses include fraud detection, anti-money-laundering pattern detection, credit risk scoring and trading optimization. finance leaders cite fraud and risk management as areas in which they use AI. This top-down support indicates that U.S. Use Cases and Impact U.S. About 64% of U.S.

AI
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APP fraud: Mid-year review

The Payments Association

The policy does nothing to address the prevention of economic crime and, it is now widely understood, here and abroad, that a whole ecosystem approach including social media companies, technology companies and telcos is required rather than simply penalising financial institutions." Without real consequences for criminals, fraud thrives.

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Navigating the Evolving Landscape of Crypto Crime

Fintech News

The report by Chainalysis provides a deep dive into these changes, highlighting the decline in certain types of crypto crimes and the persistence, if not growth, of others, such as ransomware and darknet markets. billion (SG$ 32.51 However, the decrease in scamming and theft does not tell the whole story.