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Financial Crimes Related Topics 
The Payments Association
NOVEMBER 12, 2024
Whether financial institutions should build or buy financial crime management systems. As Financial crime grows increasingly complex, payment leaders face a critical choice: build an in-house financial crime management (FCM) solution or buy an established third-party system. Why is it important?
The Payments Association
MAY 20, 2024
On 25 April 2024, the FCA proposed significant updates to its Financial Crime Guide, aiming to enhance clarity and compliance for financial and cryptoasset firms. Read more
The Payments Association
JULY 15, 2024
A deep dive into the Financial Crime 360 survey, highlighting key challenges, prevalent fraud types, and strategic responses across various financial sectors Read more
The Payments Association
FEBRUARY 22, 2024
There is an increasing need for enhanced data sharing in the payments industry to combat the rising threat of financial crime, specifically money laundering and online-enabled fraud. Read more
Finextra
AUGUST 5, 2024
FinextraTV, Julia Thorn, Senior Marketing Manager, Financial Crime Compliance, LexisNexis® Risk Solutions and Robert Campbell, Programme Director of United for Wildlife, The Royal Foundation of The Prince and Princess of Wales, dive deep into their recently released report on how wildlife trafficking can be combatted with the power of collaboration. (..)
105 
The Payments Association
APRIL 24, 2024
ComplyAdvantage acquires Golden to enhance its AI-driven financial crime risk management solutions with advanced data integration capabilities Read more
The Paypers
FEBRUARY 26, 2024
The Financial Action Task Force (FATF) has announced that it has dropped the UAE from its grey list regarding concerns about financial crime and money laundering.
The Payments Association
JUNE 7, 2024
AI's data analysis superpowers are revolutionising financial crime prevention, spotting fraud patterns in real-time, even for small transactions, but good data and industry collaboration are key. Read more
The Payments Association
JUNE 7, 2024
With Financial Crime 360 around the corner, Payments Review spoke to some of the leading figures working tirelessly to combat the growing issue of financial crime within the payments ecosystem. Read more
The Payments Association
SEPTEMBER 10, 2024
The Financial Crime 360 survey reveals how the industry is tackling evolving threats like AI-driven fraud, emphasising the need for collaboration, innovation, and updated regulations to effectively combat financial crime in 2024. Read more
Fintech News
APRIL 14, 2024
This collaboration will involve the deployment of Silent Eight’s AI platform, Iris , to enhance AIA’s financial crime compliance screening processes across multiple jurisdictions. Pan-Asian life and health insurer AIA has partnered with regtech firm Silent Eight , which specialises in AI-driven compliance solutions.
The Payments Association
OCTOBER 20, 2023
Richard Dunlop of fscom summarises the major points of the 2023 Financial Crime Compliance Report and highlights key issues in anti-money laundering strategies that have been identified. Read more
Fintech News
FEBRUARY 21, 2024
This development is set against the backdrop of evolving financial crimes, which increasingly involve complex, multi-jurisdictional operations. Featured image credit: Edited from Freepik The post How Will MAS New Amendments Impact Financial Crime Enforcement appeared first on Fintech Singapore.
The Payments Association
DECEMBER 7, 2023
The Payments Association’s annual Financial Crime 360 conference took place at the Royal Lancaster Hotel in London on Tuesday, 21 November. Hundreds of industry professionals from across the payments industry heard from some of the sector’s most important voices on the ever-present issue of financial crime and its solutions.
Fintech News
MARCH 31, 2024
This balance ensures the protection of legitimate customers’ interests while empowering FIs to effectively assess and mitigate risks associated with financial crimes. It complements the industry’s existing close collaboration with MAS and law enforcement authorities to combat financial crime.
Finextra
APRIL 17, 2024
Revolut, the global financial app with more than 40 million customers worldwide, has today announced the release of its first Financial Crime and Consumer Security Report, containing exclusive scam and fraud insights.
The Paypers
OCTOBER 2, 2024
The Financial Conduct Authority has imposed a GBP 29 million fine on Starling Bank as the latter did not meet financial crime systems and controls requirements.
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.
The Paypers
SEPTEMBER 25, 2024
A recent report by RedCompass Labs has revealed that US banks believe they are significantly behind criminals when it comes to detecting financial crimes.
Finextra
JANUARY 24, 2024
The London innovation hub of the Bank for International Settlements is inviting applications for an expert advisory group on a Bank of England-led project on financial crime fighting.
The Fintech Times
MAY 12, 2024
Now, Sumsub is gearing up for a second iteration of its Advanced Transaction Monitoring Masterclass 2024 , which will help over 2,500 anti-money laundering (AML), anti-fraud, and compliance professionals in the fintech sector to boost their knowledge in combating financial crime issues facing their respective companies.
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. Vice President Yina Arenas.
The Fintech Times
SEPTEMBER 25, 2024
Despite conceding that that criminals have an eight-month head start, 75 per cent of banks feel confident they can close this gap and 25 per cent feel they could ‘maybe’ catch up and reduce the abundance of financial crimes. The research, ‘ Financial crime detection: What holds banks back?
Finextra
OCTOBER 23, 2024
In a conversation ahead of Sibos 2024, Laura Quevedo, Executive Vice President of Financial Crime and Resiliency at Mastercard, highlights the growing threat of financial scams in the digital age, with cybercriminals increasingly using AI to exploit consumers.
The Fintech Times
SEPTEMBER 5, 2024
The post Strengthening Cybersecurity and Mitigating Financial Crimes in a Cashless World appeared first on The Fintech Times.
Neopay
NOVEMBER 13, 2024
The Financial Conduct Authority (FCA) recently levied a substantial £16,675,200 fine against Metro Bank PLC (Metro) for significant shortcomings in its financial crime prevention systems and controls. This ensures that appropriate systems and controls are in place to identify, prevent and manage financial crime risks.
The Fintech Times
JULY 21, 2024
UK financial services firms currently spend over £21,000 per hour fighting financial crime and fraud through onboarding and compliance screening processes, according to the latest True Cost of Compliance report from LexisNexis Risk Solutions.
The Fintech Times
SEPTEMBER 23, 2024
But another important area to consider is collaboration, between the financial institutions and regulators that many consider to be poised against one another. If working together was easier or more encouraged, how much more of an impact could both parties have in fighting against financial crime?
Neopay
DECEMBER 5, 2024
The Financial Conduct Authority (FCA) has issued important updates to its Financial Crime Guide, following a public consultation on proposed changes. How Neopay can support your firm The FCA’s changes mean that firms must reassess and potentially update their financial crime systems and controls.
Finextra
NOVEMBER 12, 2024
The UK's Financial Conduct Authority has fined Metro Bank £16.7 million for financial crime failings after a new transaction monitoring system implemented in 2016 went on the blink.
Finextra
NOVEMBER 28, 2024
European RegTech scale-up Salv has announced the launch of its Collaborative Scenario Library, an innovative tool designed to help AML teams improve their transaction and customer monitoring in order to catch more financial crime.
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. The sum was not disclosed.
112 
Finextra
NOVEMBER 12, 2024
This enhancement equips financial institutions with real-time vessel tracking and AI-driven monitoring, both crucial for addressing the escalating challenges of trade-based financial crime.
Fintech Finance
JUNE 20, 2024
Flutterwave , Africa’s leading payments technology company, has committed to partnering with Nigeria’s Economic and Financial Crimes Commission (EFCC) to establish and lead a state-of-the-art Cybercrime Research Center.
Finovate
APRIL 9, 2024
At the conference, Lucinity demonstrated its AI-enabled copilot, Luci , which enhances financial crime compliance via insight generation, report writing, and automation. “And with that story, we’re enabling the financial crime investigators to take the investigation time from hours to minutes.”
109 
Fintech Finance
AUGUST 5, 2024
David is a technology visionary in the fields of identity, data, and combating financial crime and fraud, with a diverse background that includes experience in startups, scale-ups, consulting, and corporations. He will assume his position on August 19, 2024.
124 
The Payments Association
APRIL 24, 2024
The 2024 assessment reveals evolving financial crime trends, including AI fraud and social media exploitation, providing crucial insights for payment firms to fortify consumer trust and operational security. Read more
100 
Finovate
AUGUST 26, 2024
As summer draws to a close, there may be a big acquisition on the horizon in the fraud and financial crime prevention space. Fraud and financial crime prevention Is Visa looking to acquire fraud fighting platform Featurespace ?
115 
The Payments Association
JANUARY 21, 2025
This report provides a comprehensive analysis of the key trends defining the payments sector in 2024, highlighting the opportunities for strategic growth, as well as the challenges posed by regulatory pressures, financial crime, and evolving infrastructure demands. However, this growth is not without its hurdles.
The Payments Association
SEPTEMBER 27, 2024
Lucinity , the global leader in AI software for financial crime compliance, has secured a second patent from the US for its proprietary federated learning technology , which provides a unique approach to allow global financial systems to share algorithmic learning patterns without sharing sensitive data.
Fintech News
JUNE 3, 2024
A 2023 research by Moody’s Analytics revealed a wealth of corporate structures enabling sanctions evasion, money laundering, fraud, and other financial crimes. Financial crime poses a significant challenge globally, with the UNODC estimating that a staggering US$800 billion to US$2 trillion is laundered annually worldwide.
102 
Fintech News
FEBRUARY 14, 2024
Lee brings extensive experience in regulatory technology and anti-financial crime, with previous positions at Thomson Reuters, LSEG, Refinitiv and Napier Technologies, where he spearheaded the APAC division. They’re an exceptional group of people, combining world-class technologists and seasoned financial crime-fighters.
94 
The Payments Association
APRIL 23, 2024
As real-time payment adoption grows, 50% of European firms are already involved, with another 42% planning to join, highlighting the balance of challenges and benefits in managing financial crime. Read more
Fintech Finance
AUGUST 1, 2024
PAYSTRAX , the payment processing solution for merchants across the EU and UK, has teamed up with global fraud and financial crime prevention company Featurespace to enhance security measures against fraudulent activities. In partnership we can identify and stop fraud and financial crime and make the world a safer place to transact.”
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