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

Fintech Finance

MARCH 10, 2025

However, many still rely on legacy AML compliance systems built for fewer payment rails, most of which are not aligned with real-time settlement workflows. Recent Datos Insights research indicates that 91% of surveyed financial institutions (FIs) are making significant or moderate investments in payment modernization.

Real Time Payments 98

Real Time Payments Faster Payments Transactions Money Laundering 98

Fintech News

FEBRUARY 4, 2025

The research shows that banks in Singapore are dedicating more time and resources to KYC processes, which are vital for anti-money laundering (AML) compliance, than any other region surveyed. The extra scrutiny and a wide-scale dependence on manual processes is having an immediate and negative impact on the client and the banks bottom line.”

Money Laundering 117

Money Laundering Due Diligence AML Financial Crimes 117

PYMNTS

SEPTEMBER 21, 2020

Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) show that several of the largest global banks moved money on behalf of scores of individuals and enterprises involved in criminal financial activity. As BuzzFeed reported, “laws that were meant to stop financial crime have instead allowed it to flourish.

Fincen 139

Fincen AML Suspicious Activity Report (SAR) Financial Crimes 139

Fintech News

JUNE 26, 2024

Lawrence Wong Prime Minister and Finance Minister Lawrence Wong announced the strategy at the Financial Action Task Force Plenary Meeting, underscoring Singapore’s commitment to bolstering its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) efforts.

AML 107

AML Money Laundering Financial Crimes Scams 107

Finovate

JANUARY 30, 2025

What can the financial services industry do to better educate their clients about the challenge of financial crime? Before joining the financial services industry, Littlechild was a specialist in white collar crime, investigations, and compliance at Ropes and Gray. Pick up your ticket today and take advantage of early-bird savings!

Financial Crimes 52

Financial Crimes Crime White Collar Crime AML 52

The Payments Association

MARCH 25, 2025

As director/MLRO of SENDS, a UK-licensed EMI, I see AI’s potential in fraud prevention, AML, and compliance. At SENDS, we integrate AI-powered compliance tools to streamline KYC and AML, improving efficiency, accuracy, and speed. AML compliance requires risk assessment, transaction monitoring, and reporting suspicious activity.

Regulatory Compliance 136

Regulatory Compliance AML Compliance PCI DSS 136

Fintech Finance

MARCH 10, 2025

However, many still rely on legacy AML compliance systems built for fewer payment rails, most of which are not aligned with real-time settlement workflows. Recent Datos Insights research indicates that 91% of surveyed financial institutions (FIs) are making significant or moderate investments in payment modernization.

Real Time Payments 75

Real Time Payments Faster Payments Transactions Money Laundering 75

Fintech Finance

OCTOBER 11, 2024

Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) compliance programs. AML program, broadly aligned to its existing remediation program, which is progressing steadily under the direction of its new U.S. AML leadership team. Formal oversight of the AML remediation through a Monitorship. balance sheet. ” U.S.

AML 98

AML BSA Money Laundering Financial Crimes 98

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 101

Financial Crimes Crime APACS Risk Assessment 101

Fintech Review

OCTOBER 1, 2024

A new focus on digital identity verification As the financial landscape continues to evolve, the importance of Anti-Money Laundering ( AML ) and Know Your Customer (KYC) processes has never been more pronounced. These protocols are integral to combating financial crime and ensure regulatory compliance.

AML 98

AML Verification Research Consumer 98

PYMNTS

DECEMBER 8, 2020

Experts estimate that cryptocurrency-related crimes totaled $4.3 Developments Around The AML/KYC Space. For more on these and other AML/KYC news items, download this month’s Tracker. BitGo On Strengthening Cryptocurrency Exchanges’ AML/KYC Procedures. Deep Dive: Enforcing AML/KYC Compliance At Cryptocurrency Exchanges.

AML 104

AML Cryptocurrency Verification Money Laundering 104

The Payments Association

APRIL 23, 2025

Is AML a real-time problem? It takes AML teams weeks (if not months) of diligent analysis to escalate these activities to law enforcement. It takes AML teams weeks (if not months) of diligent analysis to escalate these activities to law enforcement. The answer seems to be no at first glance.

AML 88

AML Suspicious Activity Report (SAR) Addressing Fraud Prevention 88

The Payments Association

NOVEMBER 25, 2024

While emphasising the importance of robust anti-money laundering (AML) measures, the FCA has consistently advocated against indiscriminate de-risking. Banks continue to sever ties with MSBs like PFS without individualised assessments, often citing AML concerns or geopolitical risks associated with countries like Iran.

Risk 88

Risk Financial Crimes AML Financial Inclusion 88

Fintech Finance

OCTOBER 30, 2024

Our Distinguished Speakers line-up: Abbas Khamisa, Head of Treasury Solutions, Global Banking at MUFG Investor Services Alessandra D’Este, Senior Payments Expert, EMEA at Swift Amrit Toor, Solutions Architect at Cloudflare Andrea Moundi Savvides, Global Director of Risk and Compliance (Harneys) and Chair and Founding Member of the Cyprus Compliance (..)

Compliance 98

Compliance AML Money Laundering Payments 98

The Payments Association

JANUARY 29, 2025

2024 brought significant regulatory action, highlighting persistent weaknesses in financial crime controls across the industry. As we enter 2025, we look back at five significant cases from 2024 and the lessons they provide for organisations aiming to strengthen their financial crime frameworks.

Financial Crimes 88

Financial Crimes Crime Due Diligence Money Laundering 88

The Payments Association

APRIL 7, 2025

SNEAK PEE K: Unveiled: Key Financial Crime 360 findings July 16, 2024 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? The findings of the Financial Crime 360 survey, focusing on the challenges, prevalent fraud types, and strategic responses across various sectors. Why is it important?

Financial Crimes 88

Financial Crimes Crime Fraud Prevention AML 88

FICO

MARCH 6, 2020

In September 2019, Fico and Visma announced their partnership to Offer SaaS Anti Financial Crime Solutions in Western Europe. I also manage the partner channels and programs for our financial crime compliance solutions. In this excerpt from that article, Jürgen elaborates on the importance of compliance. .

Financial Crimes 81

Financial Crimes Crime Compliance Technology 81

The Fintech Times

MARCH 31, 2025

As cross-border transactions grow in Europe, the cloud-based financial crime management technology solutions provider, Nasdaq Verafin has revealed that these payment channels are opening up more passageways for fraud to take place, as $194.9billion was moved across borders in 2023; more than a quarter of the total fraud figure in 2023 ($750billion).

Cross-Border 64

Cross-Border Addressing Financial Crimes Elder Abuse 64

The Fintech Times

JANUARY 21, 2025

As much as three-quarters (72 per cent) of regulated companies feel overwhelmed by current anti-financial crime compliance demands; according to the latest study by digital compliance and anti-money laundering (AML) solution provider SmartSearch.

Regulations 72

Regulations Financial Crimes Money Laundering Crime 72

Neopay

APRIL 22, 2025

In a show of force for cross-agency collaboration, the National Crime Agency (NCA) has spearheaded a widespread crackdown on high street crime with Operation Machinize, focusing on barbershops and other cash-incentive businesses that are suspected of being used for money laundering and modern slavery.

Money Laundering 52

Money Laundering Crime Financial Crimes Due Diligence 52

Neopay

APRIL 10, 2025

million penalty on Revolut Bank UAB the largest penalty ever for the neobank for the deficiencies in its financial crime prevention system. This follows a 2022 penalty of 70,000 for delayed accounts and after previous attention of the UK’s Financial Conduct Authority in 2019 on AML compliance. What went wrong for Revolut?

Central Bank 52

Central Bank Money Laundering AML Financial Crimes 52

The Paypers

FEBRUARY 13, 2025

Mastercard has announced the launch of TRACE, an AML service that was designed to combat financial crime in Asia Pacific.

AML 79

AML Visa Financial Crimes Crime 79

PYMNTS

OCTOBER 15, 2020

When Jumio acquired anti-money laundering (AML) solutions platform Beam last week, the move was more significant than simply adding AML strength to its onboarding platform, Jumio ’s Chief Product Officer Philipp Pointner told PYMNTS in a recent conversation. “We That’s where the acquisition of Beam Solutions’ AML platform comes in.”.

AML 97

AML Continuity Money Laundering Authentication 97

PYMNTS

SEPTEMBER 29, 2020

Jumio , known for its suite of artificial intelligence (AI)-powered identity verification and online know your customer (KYC) products, is beefing up its anti-money laundering (AML) powers. Another key component of the platform is helping companies manage various KYC and AML regulations in different jurisdictions across the world.

Financial Crimes 61

Financial Crimes AML Crime Money Laundering 61

Finextra

FEBRUARY 13, 2025

Mastercard has launched a service in Asia Pacific, called Trace, that uses AI to identify and prevent money laundering and financial crime.

Visa 112

Visa AI Money Laundering Financial Crimes 112

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 136

Financial Crimes Security Crime Cross-Border Payments 136

Fintech News

MAY 7, 2024

COSMIC, which stands for Collaborative Sharing of Money Laundering/Terrorism Financing Information and Cases, is currently utilised by participating banks to enhance the detection and prevention of significant financial crimes through shared customer information.

AML 107

AML Money Laundering Non-Bank Financial Crimes 107

Fintech Finance

MAY 13, 2025

Issuer processing powerhouse Enfuce unveils the Fortitude Pledge, a bold new compliance and security standard, that aims to eliminate 100% of financial crime risks across all Enfuce-processed card transactions. Anything less than full commitment means accepting the unacceptable and that’s a compromise the industry cannot afford.

Compliance 59

Compliance Financial Crimes Global Payments Crime 59

Finovate

FEBRUARY 3, 2025

UK-based financial crime compliance solutions company Napier AI has received a majority growth investment from Marlin Equity Partners. Financial crime compliance solutions company Napier AI has received a majority growth investment from Marlin Equity Partners. Today’s funds add to Napier AI’s existing $55.8 ” The U.K.

AI 52

AI Financial Crimes Money Laundering AML 52

Fintech News

JULY 31, 2024

Hawk, a provider of AI-driven fraud prevention and anti-money laundering (AML) technology, has secured additional Series B funding with Macquarie Capital. This new funding aims to enhance Hawk’s international growth as demand for its AI-powered anti-financial crime technology continues to rise.

AI 105

AI Financial Crimes Fraud Prevention Security 105

Fintech Finance

FEBRUARY 17, 2025

Leveraging artificial intelligence (AI) technology, PhotonPay has further streamlined anti-money laundering (AML) and counter-terrorism financing (CFT) processes, enhanced its risk management system and effectively reduced financial crime risks. “Compliance is the foundation of trust in global payments.

Compliance 59

Compliance Payment Solutions Global Payments Risk 59

PYMNTS

DECEMBER 10, 2020

Cryptocurrency-related crimes totaled $4.3 This lack of identity information is compounded by the weak KYC procedures of many cryptocurrency exchanges, with a recent study finding that 56 percent of all exchanges lacked sufficient KYC processes, many of which did so on purpose to avoid complying with AML regulations. or the U.S.,

AML 88

AML Cryptocurrency Money Laundering Compliance 88

Fintech News

JUNE 3, 2024

The report, titled “Top Trends Shaping Anti-Money Laundering in Asia-Pacific in 2024”, delves into the key trends, technology adoption, and regulatory imperatives shaping the anti-money laundering (AML) market in APAC. Suspected proceeds of crime totaling S$1.23 billion were frozen in Nium India’s accounts.

Money Laundering 124

Money Laundering Financial Crimes Crime APACS 124

PYMNTS

MARCH 25, 2019

When it comes to financial crime, it seems, the bad guys are getting away with financial murder. The implication, then, is that financial institutions are not doing what they could or should do to detect and prevent financial crimes. Even staggering. And what these firms are doing doesn’t seem to be working. A Tech and Mindset Shift.

AML 78

AML Financial Crimes Money Laundering Crime 78

The Payments Association

APRIL 23, 2025

Emerging AI technologies are transforming the fight against financial crime with real-time detection and prevention capabilities, improved risk scoring, and reduced false positives. Lynx has been recognized as a Sample Vendor for Cybersecurity Pre-Crime Platforms in the Emerging Tech Impact Radar: 2025.

Financial Crimes 88

Financial Crimes Crime AML PCI DSS 88

FICO

NOVEMBER 27, 2018

Many anti-money laundering (AML) operations work hard to show that they are in compliance with rules and regulations, and struggle to maintain appropriate staff levels to work all the alerts. Machine learning for AML is dramatically improving the efficacy of compliance operations, today. Transactions may also be auto-actioned.

AML 77

AML Money Laundering Suspicious Activity Report (SAR) SARS 77