The Payments Association

FEBRUARY 10, 2025

While vIBANs offer innovation in payment systems, they introduce risks like money laundering due to insufficient oversight. However, their rapid adoption has raised concerns about regulatory oversight, particularly concerning anti-money laundering (AML) compliance. Why is it important? What’s next?

IBAN 88

IBAN AML Master Account Due Diligence 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. For more than two decades I have now been working in the financial services industry.

Financial Crimes 81

Financial Crimes Crime Compliance Technology 81

Fintech News

FEBRUARY 14, 2024

Hawk AI, a Germany-based provider of artificial intelligence technology for fraud detection and anti-money laundering efforts, has announced Robin Lee as the new General Manager for its Asia-Pacific (APAC) operations. Robin Lee Robin Lee said, “I’m delighted to be joining Hawk AI.

APACS 113

APACS AI Financial Crimes Money Laundering 113

FICO

FEBRUARY 19, 2020

For many consumers and businesses, the ability to quickly send money directly from their bank account is a win in terms of convenience, but it isn’t without risk, when it comes to fraud and other types of financial crime. How RealTime Payments Impact Financial Crime. Tackling Fraud in Real Time Payments.

Real Time Payments 92

Real Time Payments Financial Crimes Crime Account Takeovers 92

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

MARCH 12, 2019

As has been reported, the company has faced concerns over suspected money laundering, as noted in the Financial Times and elsewhere, and has been scrutinized by regulators including the Financial Conduct Authority (FCA) and in Lithuania (Revolut has a banking license in that country). In the U.K.,

Money Laundering 59

Money Laundering Regulations Financial Crimes Authorization 59

The Payments Association

MARCH 25, 2025

Strict compliance with FCA, PSD2, and PCI DSS protects consumers and combats financial crime, but implementation demands resources and adaptation. Reactive, not proactive: Rule-based systems fail to detect evolving threats. These systems enhance our security framework and ensure smooth, uninterrupted customer service.

Regulatory Compliance 136

Regulatory Compliance AML Compliance PCI DSS 136

FICO

DECEMBER 12, 2017

As money laundering schemes are getting more and more sophisticated, the detection and mitigation strategy has to get smarter and faster. Looking ahead to 2018, I predict a rising trend for organizations to do four things better than today in the realm of financial crime. Check out our financial crime pages.

Financial Crimes 55

Financial Crimes Crime AI Money Laundering 55

FICO

JULY 15, 2021

The challenge for financial institutions of fighting fraud and tackling financial crime has never been greater. As the market for global payments and financial services grows, criminals develop new strategies and technologies to make illicit gains. Join the new FICO fraud community now at [link].

Financial Crimes 52

Financial Crimes Crime Fraud Detection Money Laundering 52

The Paypers

MARCH 31, 2021

UK-based technology marketplace for financial services firms Bofin has partnered ComplyAdvantage to lower its risk of financial crimes and money laundering.

Fraud Detection 57

Fraud Detection Money Laundering AML Financial Crimes 57

FICO

SEPTEMBER 12, 2018

While AI has been used for more than 25 years in credit fraud detection , few people outside the banking sphere were aware of this. I was interviewed recently for a new TV program called Tomorrow’s World Today , and its episode on "Managing Money for Tomorrow".

Financial Crimes 45

Financial Crimes Crime AI Fraud Detection 45

Fintech News

DECEMBER 13, 2023

The key to adhering to these ever-changing mandates is to enable compliance teams to remain agile and have the ability to recalibrate or reconfigure their financial crime compliance processes. Marc recommended implementing robust risk detection controls and processes.

Financial Crimes 120

Financial Crimes Money Laundering Risk Crime 120

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

FICO

JUNE 23, 2022

The Role of Data in Managing Fraud and Financial Crime Today. Here are the highlights from the fraud management data discussion I had at FICO World 2022 with Julie Conroy, Head of Risk Insights and Advisory at Aite-Novarica Group. Fraud Detection and AML Collaboration. Tue, 07/02/2019 - 02:45. by TJ Horan.

Financial Crimes 52

Financial Crimes Crime AML Fraud Detection 52

FICO

SEPTEMBER 19, 2018

While AI has been used for more than 25 years in credit fraud detection , few people outside the banking sphere were aware of this. I was interviewed recently for a new TV program called Tomorrow’s World Today , and its episode on "Managing Money for Tomorrow".

Financial Crimes 40

Financial Crimes Crime AI Fraud Detection 40

FICO

NOVEMBER 27, 2019

Behind the headlines on financial crime compliance are big challenges. Rapid payments, instant payments, PSD2 have been vehicles to further misuse the financial system for laundering money and harming banks, their customers and the economy worldwide. Prediction 3: Fraud and Financial Crime Management Convergence.

Financial Crimes 52

Financial Crimes Crime Compliance AI 52

FICO

SEPTEMBER 27, 2019

Streamlining fraud detection and anti-money laundering (AML) processes is essential in fighting financial crime faster and more effectively. We heard this message loud and clear at Finovate in New York City this week, as we have from banks and financial institutions worldwide.

Financial Crimes 40

Financial Crimes Crime Fraud Detection Money Laundering 40

FICO

JUNE 9, 2022

FICO’s New AML Scores Use AI and Machine Learning to Detect More Money Laundering. New AML scores reduce false positive alerts by 50% while detecting 100% of known money laundering transactions, and discover new aberrant, potentially risky behaviors. asokolowski@speednet.pl. Fri, 06/03/2022 - 12:24.

Money Laundering 52

Money Laundering AML SARS AI 52

Fintech News

OCTOBER 22, 2024

This is followed by advanced authentication methods (70.2%), customer education initiatives (68.1%), and the implementation of real-time fraud detection systems (53.2%). The NICE Actimize research found that enhanced monitoring for suspicious transactions (76.6%) is the most commonly adopted measure. About 55.3%

APACS 123

APACS Online and Mobile Banking Fraud Prevention Fraud Detection 123

FICO

JANUARY 19, 2022

From TBML to BNPL to NFTs, 2021 found fraud and financial crime professionals dealing with a plethora of new challenges and criminal schemes. Our five most popular posts of the year dealt with trade-based money laundering, non-fungible tokens, buy now pay later scams, courier scams and good old credit card fraud.

Financial Crimes 52

Financial Crimes Crime Money Laundering NFTs 52

Fintech News

APRIL 28, 2024

Deloitte estimates that approximately 30% of the revenues in the financial services industry will be generated through cross-industry ecosystems by 2025. Financial crime continues to evolve at a fast pace as fraudsters tap more sophisticated and advanced methods to circumvent detection.

AI 113

AI Innovation Financial Crimes Crime 113

FICO

APRIL 12, 2017

FICO introduced behavioral analytics in the early 1990s and we currently analyze two-thirds of the world’s payment card transactions , in real time, for fraud. Now, FICO’s proven behavioral analytics can be applied by forward-thinking institutions to fight a wide range of financial crimes.

Financial Crimes 49

Financial Crimes Crime Suspicious Activity Report (SAR) SARS 49

FICO

JANUARY 5, 2021

What else made for the hottest reads in 2020 for fraud and financial crime? Here were our top 5 posts: #1: Fraud And Financial Crime Convergence. TJ Horan reported on a key takeaway from the Aite Financial Crime Forum : lenders are serious about combining their fraud and financial crime protection systems.

Financial Crimes 52

Financial Crimes Crime Posting Scams 52

FICO

SEPTEMBER 28, 2018

There has been another addition to the financial crime lexicon: FRAML stands for Fraud and Anti-Money Laundering. As my colleague Matt Cox wrote in this article there is a convergence of fraud and compliance in fighting financial crime. Protecting the reputation of their organization.

Financial Crimes 58

Financial Crimes Money Laundering Crime AML 58

Bank Automation

NOVEMBER 21, 2023

Anti-fraud and anti-money laundering companies are looking to AI to increase the efficiency of their detection models as digital fraud becomes more pervasive.

Account Takeovers 75

Account Takeovers Accounts Money Laundering Financial Crimes 75

Finovate

JULY 23, 2024

A partnership between Featurespace and OrboGraph will help banks and other financial services companies defend themselves against check fraud. Featurespace’s proof of concept detected more than $178 million (£138 million) in fraud with a 5:1 false positive ratio. “Fraud is the single largest crime in the U.K.

Checks 64

Checks Fraud Detection Financial Crimes Crime 64

Fintech News

JANUARY 18, 2024

Much like its uber-popular consumer applications like OpenAI’s ChatGPT, generative AI offers the prospect of heightened efficiency and innovation within financial services in Asia. Moreover, OCBC has leveraged AI in bolstering its anti-money laundering measures.

AI 109

AI Financial Crimes Crime SWIFT 109

PYMNTS

SEPTEMBER 24, 2019

The director of the Financial Crimes Enforcement Network (FinCEN), Kenneth A. 24), to talk about digital identity today, how safe it is and what the agency is doing to protect it against financial crimes, according to prepared remarks. . One of the biggest problems, Blanco said, is account takeover. . “By

Fincen 71

Fincen Account Takeovers Identity Theft Financial Crimes 71

FICO

JULY 25, 2016

Anti-money laundering (AML) is a good example. My FICO colleague TJ Horan recently blogged about the skyrocketing compliance costs that banks face in their fight against money laundering and other financial crimes. As TJ says, we are infusing FICO TONBELLER’s solution portfolio with analytic innovation.

AML 64

AML Money Laundering Financial Crimes Crime 64

Finovate

MARCH 28, 2024

Fraud and risk platform DataVisor launched its anti-money laundering (AML) solution this week. The new offering combines fraud fighting and anti-money laundering operations in a unified, approach that helps institutions better deal with emerging threats and evolving regulations.

AML 59

AML Compliance AI Money Laundering 59

The Fintech Times

SEPTEMBER 3, 2024

Advanced Anti-Money Laundering Advanced detection of suspicious financial activities, supporting compliance with regulatory requirements and mitigating the risk of financial crimes.

Use Case 64

Use Case AI Innovation CHIPS 64

The Fintech Times

NOVEMBER 27, 2024

The partnership will be especially effective as blockchain-related crime is a growing concern. Money laundering and fraud are on the rise and according to Sumsub’s Fraud Report 2024 , the crypto industry was in the top five industries with the highest fraud rates in 2024.

Transactions 59

Transactions Financial Crimes Crime Blockchain 59

Seon

JULY 11, 2024

With fraud alone estimated to cost the global economy $3.7 trillion a year, and the current state of money laundering, which touches two to five percent of the global GDP, the financial impact of these crimes is staggering. Below are the top takeaways from the discussion: 1.

Fraud Prevention 52

Fraud Prevention AML Money Laundering Financial Crimes 52

Fintech Finance

AUGUST 2, 2024

ComplyTek introduces an advanced transaction screening solution for instant payments , designed to ensure compliance and mitigate fraud within the critical 10-second processing window. Leveraging machine learning and AI, the platform offers comprehensive monitoring and fraud detection capabilities.

Instant Payments 94

Instant Payments Transactions Payment APIs and Integration Compliance 94

FICO

FEBRUARY 15, 2017

The focus on financial crime, and the money laundering that funds terrorist attacks and other criminal activities, has forced the industry to look for smarter approaches. Industry experts have begun to realize the significance of analytics in combatting anti-money laundering.

AML 67

AML AI SARS Money Laundering 67

The Fintech Times

SEPTEMBER 11, 2024

These impersonation bots, which now account for 32 per cent of internet traffic , are increasingly used to manipulate online interactions, spread disinformation, and commit financial crimes, including money laundering.

Bots 59

Bots Deepfake Automation APACS 59

Seon

APRIL 11, 2024

Financial institutions worldwide are continuously evolving their strategies to combat fraud and money laundering, two threats that undermine the potential of our global financial systems. The adjacent threats of fraud and money laundering are disadvantageously positioned when siloed.

Fraud Prevention 52

Fraud Prevention AML Money Laundering Financial Crimes 52