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SNEAK PEAK: Unveiled: 2024 Key Financial Crime 360 findings

The Payments Association

SNEAK PEAK: 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?

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AI x Payments: From Fraud Detection to Hyperpersonalised Checkout

Finextra

Real-Time Fraud Detection: Defence at Machine Speed Traditional fraud systems rely on static rules and after-the-fact analysis. But fraud doesn’t wait, and neither can protection. Real-time fraud networks to share alerts across the ecosystem. Here’s how AI is redefining payments at every layer of the stack.

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Hawk Raises $56 Million in Series C Funding to Help Banks Fight Financial Crime

Finovate

Hawk , a company offering AI-powered anti-money laundering (AML), screening, and fraud prevention solutions, has secured $56 million in Series C funding. The fintech, which made its Finovate debut at FinovateSpring 2022, will use the capital to help Tier 1 banks leverage AI to fight financial crime.

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

The Payments Association

Economic Crime and Corporate Transparency Act examined: A guide to avoiding the failure-to-prevent fraud offence February 6 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? Firms must be required to have fraud prevention policies in place and demonstrate their effectiveness.

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Swift to Launch AI-Powered Fraud Detection in 2025

Fintech News

Swift, the global financial messaging network, is launching a new AI-powered service to help banks fight financial crime. Swift is also testing fraud detection use cases in a sandbox environment. The initiative is part of Swift’s broader efforts to use AI to improve the security of cross-border payments.

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Temenos Develops AI Agent to Enhance Financial Crime Compliance

Fintech News

Temenos has introduced a new AI-powered solution aimed at improving how banks detect and manage financial crime. It is part of the companys broader Financial Crime Mitigation (FCM) suite, which includes tools for KYC risk scoring, transaction monitoring, and payment fraud detection.

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Visa to Acquire AI Fraud Detection Firm Featurespace

Fintech News

Payment giant Visa is set to acquire Featurespace, a company specialising in artificial intelligence (AI) technology for real-time payments fraud protection. The acquisition aims to bolster Visa’s fraud detection and risk management capabilities, which are used globally by financial institutions and businesses to safeguard transactions.