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Economic Crime and Corporate Transparency Act examined: A guide to avoiding failure-to-prevent fraud measures

The Payments Association

Compliance requires proactive fraud risk assessment, the implementation of preventive procedures, and a culture of accountability. This article explores the key provisions of the Act, the risks businesses must address, and the steps required to mitigate potential liabilities.

Crime 88
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De-risking dilemmas: The unintended consequences threatening UK-Iran personal remittances

The Payments Association

MSB de-risking as a systemic risk: Insights from the UK National Risk Assessment The UK National Risk Assessment (NRA) has identified the de-risking of MSBs as a systemic risk. This disconnect between regulatory intent and market practice creates a systemic issue that warrants urgent attention.

Risk 88
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AI Becomes the Banker: 21 Case Studies Transforming Digital Banking CX

Finextra

This generative AI tool has improved the quality and speed of client consultations. Research by IBM found that about 50% of enterprises in financial services have actively deployed AI, the highest of any sector. By comparison, the next-highest was telecommunications, at 37%, with other sectors generally lower.

AI 72
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Medical record automation: How a leading underwriting provider transformed their document review process

Nanonets

However, each case contained a patient's entire medical history — from doctor visits and lab results to hospital stays and specialist consultations. When medical record volumes get out of hand Processing 200+ patient case files weekly might sound manageable. These files ranged from 400 to 10,000 pages per patient.

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Backbase and Feedzai Integrate Financial Crime Prevention with Engagement Banking

Finovate

The integration with Backbase’s engagement banking platform will provide banks with real-time, AI-powered, proactive fraud prevention, plus lower operational costs thanks to AI-powered risk assessment that minimizes false positives. The company also recently partnered with Nordic digital transformation consultancy Knowit.

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FCA Issues Final Guidance on Politically Exposed Persons (FG25/3)

Finextra

This update follows a comprehensive multi-firm review, a public consultation (GC24/4), and recent amendments to the 2017 Money Laundering Regulations. A Smarter Approach to Risk Assessment The FCA reiterates that not all PEPs pose the same level of risk. Firms should avoid defaulting to a one-size-fits-all approach.

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Insurtech’s Biggest Emerging Trends: AI, Cloud Architecture, CX and Modernisation

The Fintech Times

AI driving change “Artificial Intelligence (AI) is transforming insurance from front to back,” explains Dean Standing , chief revenue officer at data consultancy Sagacity. “The increase in available data sources is transforming risk assessment capabilities. Here’s what they had to say.

AI 51