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Traditional fraudprevention methods are struggling to keep up with the sheer scale and speed of today’s changing threat landscape. Synthetic identity fraud now ranks among the top five threats keeping fraud teams up at night, particularly in mobile-first, high-growth markets like Southeast Asia.
The collaboration will help banks, fintechs, and financial institutions enhance fraudprevention without compromising the user experience. The integration of Sumsub’s compliance solutions will help financial institutions deal with the growing threat of fraud and financial crime. The company was founded in 2019.
We’re excited to share that Lynx has won the Anti-Fraud Solution of the Year award at the 2025 FSTech Awards, a celebration of financial services innovation in the UK and EMEA. Financial institutions (FIs) grapple with complex, interconnected fraud and financial crime challenges.
Flagright, an AI-native company specialising in Anti-Money Laundering (AML) compliance and fraudprevention, has announced its partnership with SALT, a financial platform aiming to support Small and Medium Enterprises (SMEs) in India and Asia.
Home Announcements Regulation OnePay selects Flagright for trransaction monitoringg and AML compliance External This content is provided by an external author without editing by Finextra. By adopting scalable AI-powered monitoring tools, OnePay reinforces its leadership in proactive compliance and fraudprevention.
Additionally, 96% of these institutions suffered financial losses due to fraud, with 70% reporting losses exceeding $500k during that period. This underscores the critical need for advanced fraudprevention in the financial sector, a need that Alloy’s platform will directly address within Numerated’s commercial lending solutions.
As director/MLRO of SENDS, a UK-licensed EMI, I see AI’s potential in fraudprevention, AML, and compliance. At SENDS, we integrate AI-powered compliance tools to streamline KYC and AML, improving efficiency, accuracy, and speed.
Dialect, the payments specialist business outsource provider and Synalogik , the data aggregation and fraudprevention platform, are pleased to announce their new strategic partnership. Together, we’re setting a new standard for excellence and innovation in the fight against fraud.
Fraud evolves daily, yet legacy systems take months to adaptleaving businesses exposed. Complaers no-code fraudprevention engine puts compliance teams back in control, delivering real-time, hyper-personalised AML/CTF strategies without engineering support. Complaer is changing that.
It also enables businesses to streamline risk management and ensures they meet stringent customer due diligence requirements under anti-money laundering ( AML ) regulations. Creditinfo has appointed Rob Meakin as director of fraud and identity to head up this service.
The Economic Crime and Corporate Transparency Act 2023, specifically the “failure-to-preventfraud” offence, and outlines how businesses can mitigate fraud risks. Firms must be required to have fraudprevention policies in place and demonstrate their effectiveness. Why is it important?
Security & compliance risks: Meeting growing AML, fraudprevention, and regulatory demands is difficult with rigid, outdated infrastructure. Future-proof payment and banking infrastructure by implementing cloud-native, AI-driven automation, and Open API solutions that streamline payments and improve fraud detection.
These developments were the focus of a recent webinar, “ Strengthening Your Crypto Compliance Program: Addressing AML and OJK Requirements ,” part of the Indonesia Crypto Literacy Program. For these firms, it’s a call to build trust, embrace transparency, and lead with compliance as the new currency of credibility.
To address the money mule problem, organisations must combine elements of fraudprevention, cyber threat intelligence, and anti-money laundering capabilities. Is AML a real-time problem? It takes AML teams weeks (if not months) of diligent analysis to escalate these activities to law enforcement.
Digital fraudprevention company SEON is launching its expanded Anti-Money Laundering (AML) Compliance suite, introducing a range of AI-powered capabilities to provide enhanced support to fraud and compliance teams. It also boasts AI-assisted customer screening that helps analysts resolve hits faster.
Key findings reveal that fraud remains the foremost concern, with identity fraud being the most common type encountered. The survey also highlights the growing investment in technologies such as AI and machine learning for fraudprevention, as well as the importance of industry collaboration and regulatory updates.
AI-powered anti-money laundering (AML) company Hawk has raised $56 million in Series C funding. Hawk , a company offering AI-powered anti-money laundering (AML), screening, and fraudprevention solutions, has secured $56 million in Series C funding. Hawk made its Finovate debut at FinovateSpring 2022 in San Francisco.
A new partnership has been announced between Swedish embedded finance provider Intergiro and SEON , the digital fraudprevention and compliance firm, to improve security in the former’s embedded finance ecosystem and combat growing cyber threats. As fraud evolves, organisations’ cyber defences must too.
Security, tokenisation, and fraudprevention: Security remains paramount in payment operations. Furthermore, automated reconciliation tools eliminate the need for manual tracking, reducing errors and streamlining finance team operations.
QwikPay , the Australian paytech, is improving its real-time user onboarding while maintaining compliance with financial regulations in Australia, following a new partnership with iDenfy , the identity verification and fraudprevention technology provider.
The report, based on Sumsubs internal identity verification and user activity data from 2023 and 2024, along with a survey of over 300 companies across the crypto, banking, payments, and e-commerce sectors, reveals that APAC was the only region to record a decline in crypto fraud in 2024, with fraud rates dropping from 2.6%
Hawk, a provider of AI-driven fraudprevention and anti-money laundering (AML) technology, has secured additional Series B funding with Macquarie Capital. Hawk’s technology enables financial institutions to improve the efficiency of financial crime detection and prevention while adhering to AML/CFT regulations.
Experian and GBG have expanded their partnership to enhance fraudprevention and identity verification services for organisations across Australia and New Zealand.
As anti-money laundering requirements tighten in many jurisdictions, financial institutions and fraudprevention platforms are ditching legacy AML solutions for newer technology — but alternatives aren’t easy to come by yet.
Key areas of compliance include: Anti-Money Laundering (AML) and Know Your Customer (KYC) Policies : Processors must implement AML and KYC procedures to preventfraud and money laundering. Testing should also cover security measures, such as encryption and tokenization, to protect cardholder data.
Consumer Protection with stronger authentication and fraudprevention measures, such as Strong Customer Authentication (SCA). Improved FraudPrevention & Compliance PSD3 will tighten controls on remote onboarding, with stricter anti-money laundering (AML) protocols to combat rising cyber threats.
NetGuardians and Intix have merged to form Vyntra, a new company focused on unifying transaction observability and financial crime prevention for banks and financial institutions. We’re proud to support the team as they lead the way in transaction observability and financial crime prevention.”
Global Industry Compliance: Adherence to international security standards, including ISO 27001, GDPR, PCI DSS, AML, and KYB/KYC. Fraud doesnt stop at payment initiationit can strike anywhere along the payout journey.
By integrating with DVS, Sumsub ensures compliance with local anti-money laundering (AML) and Know Your Customer (KYC) regulations while reducing fraud and streamlining onboarding through automation. This solution offers real-time, government-backed validation of identity documents, including passports, driving licences, and visas.
FRAML, or Fraud and Anti-Money Laundering, represents a holistic strategy that presents an effective way for organizations to strengthen their defenses against both fraud and risk. Bridge the Gap Learn how FRAML fosters collaboration between fraud and compliance teams, breaking down siloes for a more robust defense.
Guest panelists included James Nurse, Managing Director at FINTRAIL; Hannah Becher, Lead of Fraud and AML Surveillance at Pleo; Matthew Tataryn, Director of Financial Crime Risk at Tide Platform; and Jeremy Doyle, Director of Growth, AML Solutions at SEON. Below are the top takeaways from the discussion: 1.
Refine Intelligence has introduced its Digital Customer Outreach for Check FraudPrevention solution. Refine Intelligence launched its Digital Customer Outreach for Check FraudPrevention solution this week. Refine Intelligence made its Finovate debut at FinovateEurope 2023 in London.
Whether it’s the deep historical insight of legacy credit bureaus, the investigative power of big data analytics, or the real-time, AI-driven agility of cloud-native platforms, the tools for fraudprevention are more advanced and more essential than ever.
As regulatory standards tighten and financial crime evolves, Tookitaki’s platforms provide scalable, AI-driven solutions for AML and fraudprevention that will help institutions stay ahead of these challenges.”
These include AML (anti-money laundering) screening, KYC (Know-Your-Customer) and KYB (Know-Your-Business) processes, as well as ongoing transaction monitoring and fraudprevention. LDP also facilitates compliance across new markets, supporting businesses as they expand globally.
Moderating her second panel of the day - Fraudprevention and AML: the need for behavioural biometrics in this instant age - Finextra’s senior reporter Niamh Curran spoke to Megan Heald, senior project manager at NICE Actimize, John Sam-Kubam, senior vice president at Crown Agents Bank, Beju Shah, head of Nordic centre at the Bank of International (..)
Regulatory Compliance Businesses must comply with rules like GDPR (Europe), PSD2 (EU), and AML/KYC laws in various countries. Fraud Risks Cross-border transactions have twice the fraud risk compared to domestic payments, leading to stricter verification measures.
The choice affects compliance, efficiency, and fraudprevention capabilities. In response, regulatory bodies like the Financial Conduct Authority are tightening anti-money laundering (AML) and counter-terrorism financing (CTF) measures, levying steep penalties for non-compliance. What is this article about? Why is it important?
Open banking enhances competition, consumer choice, and cost efficiency while increasing focus on fraudprevention and consumer protection to support wider adoption. The FCA and PSR are advancing this with variable recurring payments (VRPs) and an independent entity to drive progress.
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