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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. The company was founded in 2018. This drives up the cost of fighting financial crime.

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Navigating the rise of AI-enabled fraud

The Payments Association

With payment systems becoming more digital and interconnected, the risk of AI-driven fraud grows, urging payments firms to adopt cutting-edge solutions to protect themselves and their customers from these emerging threats. fingerprints, facial recognition), and behavioural biometrics (e.g., keystroke dynamics or mouse movements).

AI 88
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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. CAGR from 2025 to 2030.

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The Full List of Fintech Unicorns in Asia (2025)

Fintech News

billion analytics and fraud detection Acko Insurance 1.07 Yubi became a unicorn in March 2022 after raising $137 million in Series B funding from Insight Partners, B Capital, and Dragoneer Investment Group. billion Perfios, a fintech SaaS company, focuses on real-time credit decisioning, analytics, and fraud detection.

FinTech 138
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2-year-old LatAm fintech Yuno reaches $150M valuation with backing from DST, Tiger, a16z

TechCrunch Fintech

The company launched its payments orchestration product in 2022 and provides over 300 payment methods with fraud detection capabilities, one-click checkout and advanced smart routing technology. © 2024 TechCrunch. All rights reserved. For personal use only.

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

Neopay

The National Economic Crime Plan (2023-2026) has identified money mules as a major enabler of fraud and other criminal activities. Alarmingly, FCA data indicates that while 194,084 money mules were offboarded by 25 firms between January 2022 and September 2023, only 37% were reported to the NFD.

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Scrapping the £100 Contactless Limit: What It Means for Consumers, Merchants and Security

The Fintech Times

Fraud is a key consideration. Contactless fraud accounted for 41.5million in losses last year, up 19 per cent from 2022. However, UK Finance reports that fraud is growing more slowly than contactless transaction volumes, and remains a small part of total unauthorised fraud.