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Anti-money laundering (AML) Stories - Page 13

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Anti-money laundering (AML) stories

Experts urge vigilance against growing digital fraud risks
Firewalls

Experts urge vigilance against growing digital fraud risks

Experts warn that rising digitalisation fuels fraud, with AI aiding cybercriminals, prompting calls for robust security and real-time threat response.

By Melania Watson • 3 min read • Thu, 14th Nov 2024
The lowdown on crypto ATMs and their place in the ecosystem
Crypto

The lowdown on crypto ATMs and their place in the ecosystem

Crypto ATMs are growing globally, with the US leading at 82% of market share. As the ecosystem expands, here's what to know before using one.

By Janine Grainger • 5 min read • Wed, 28th Aug 2024
TanX hits USD $1 billion in quarterly trading volume
Network Infrastructure

TanX hits USD $1 billion in quarterly trading volume

TanX has hit a quarterly trading volume of USD $1 billion, marking a 70% rise and underscoring the growing reliance on decentralized trading platforms.

By Imee Dequito • 4 min read • Fri, 26th Jul 2024
LexisNexis Risk Solutions launches Australian cloud facility
Biometrics

LexisNexis Risk Solutions launches Australian cloud facility

LexisNexis Risk Solutions debuts its first Australian cloud hosting facility, enhancing local risk orchestration services with advanced compliance solutions.

By Catherine Knowles • 2 min read • Tue, 9th Jul 2024
HSBC & BNY Mellon to pilot Quantexa's new AI technology
Risk & Compliance

HSBC & BNY Mellon to pilot Quantexa's new AI technology

HSBC and BNY Mellon join Quantexa's Lighthouse Programme to deploy Q Assist, a context-aware generative AI suite, debuting at London Tech Week to optimise financial services.

By Catherine Knowles • 3 min read • Tue, 11th Jun 2024
First AML & Armalytix join forces to elevate AML processes
Fintech

First AML & Armalytix join forces to elevate AML processes

First AML has partnered with Open Banking tech platform Armalytix to boost Source of Funds and Source of Wealth capabilities for large conveyancing firms.

By Kaleah Salmon • 3 min read • Thu, 30th May 2024
Global AML expenditure by non-financial sectors to surge 170%
Marketing Technologies

Global AML expenditure by non-financial sectors to surge 170%

Global spend on Anti-Money Laundering systems by non-financial entities is set to soar 170%, reaching $6.3 billion by 2028, driven by stricter regulations.

By Catherine Knowles • 3 min read • Wed, 22nd May 2024
First AML launches AI Assist to expedite compliance tasks
Risk & Compliance

First AML launches AI Assist to expedite compliance tasks

First AML launches AI Assist, promising to reduce compliance tasks to 60 seconds, expediting KYC and AML processes by 90% through automated data extraction.

By Sean Mitchell • 3 min read • Wed, 15th May 2024
TrustQuay Viewpoint announces Guy Harrison as new CEO
Software-as-a-Service

TrustQuay Viewpoint announces Guy Harrison as new CEO

In a strategic move, TrustQuay Viewpoint appoints industry veteran, Guy Harrison, as CEO to enhance global development and facilitate the digital transformation in the TCSP sector.

By Imee Dequito • 2 min read • Thu, 9th May 2024
Oracle launches AI-powered platform to combat money laundering
Risk & Compliance

Oracle launches AI-powered platform to combat money laundering

Oracle unveils AI-powered Finance Services Compliance Agent to help banks combat a predicted $5.05tn in money laundering in 2024, through enhanced transaction monitoring and risk-control efficiency.

By Catherine Knowles • 3 min read • Tue, 9th Apr 2024

Stories from Other Regions

Anti-money laundering (AML) stories

Continuous screening vital to detect 75% more money mules
EduTech

Continuous screening vital to detect 75% more money mules

A study by Synectics reveals that 75% of money mules remain undetected without continuous KYC and AML screening, presenting a major threat to banks.

By Shannon Williams • 3 min read • Fri, 8th Nov 2024
Asian banks face rising crime threat due to low AI use
Digital Transformation

Asian banks face rising crime threat due to low AI use

A report reveals that over 50% of financial institutions in Asia are failing to adopt AI for anti-money laundering, risking exposure to financial crime.

By Melania Watson • 3 min read • Tue, 29th Oct 2024
Busting money laundering in Australia is dependent on making better data connections
Generative AI

Busting money laundering in Australia is dependent on making better data connections

The persistent ability of criminals to exploit legitimate structures to launder money has banks and others on the hunt for new tools and techniques to counter the threat.

By Peter Philipp • 5 min read • Thu, 24th Oct 2024
'How much crypto users buy' is the wrong success metric for a crypto exchange
Multi-factor authentication

'How much crypto users buy' is the wrong success metric for a crypto exchange

Easy Crypto reveals it returned NZD $2.7M to customers affected by fraud, shifting focus from trading volume to security and user protection in the crypto space.

By Janine Grainger • 3 min read • Wed, 25th Sep 2024
Emerge & SquareOne introduce Blue tick email verification in NZ
Cloud Services

Emerge & SquareOne introduce Blue tick email verification in NZ

Emerge and SquareOne introduce Blue tick email verification to combat phishing scams in New Zealand, enhancing trust and security in fintech communications.

By Melania Watson • 3 min read • Wed, 24th Jul 2024
C-suite executives concerned over company's anti-money laundering processes
Fintech

C-suite executives concerned over company's anti-money laundering processes

Despite budget cuts, a new survey reveals worries among UK c-suite executives over their firms' anti-money laundering procedures, with 49% partially confident in their compliance.

By Catherine Knowles • 3 min read • Thu, 25th Apr 2024
Emerge disrupts New Zealand banking with SME platform
Fintech

Emerge disrupts New Zealand banking with SME platform

Emerge, a disruptive platform aimed at revolutionising New Zealand's business banking landscape, has launched.

By Tom Raynel • 3 min read • Mon, 8th Apr 2024
FICO survey reveals identity theft & fraud fears among Indonesians
Fintech

FICO survey reveals identity theft & fraud fears among Indonesians

FICO's study reveals prolonged fears of identity theft among Indonesians, as 36% remain anxious, heightening vulnerabilities to financial loss and credit damage amid growing risks from real-time payments.

By Catherine Knowles • 3 min read • Mon, 1st Apr 2024