Money Laundering Stories - Page 6

Asian Stories

Money Laundering stories

Group-IB helps bust Southeast Asian cyber fraud syndicate

Group-IB aided a tri-nation police operation that dismantled a cyber fraud syndicate, linking it to over 1,899 cases in Singapore and losses exceeding USD $25 million.

By Kaleah Salmon • 3 min read • Tue, 18th Jun 2024

Global Stories

Money Laundering stories

Robotics

AI poised to transform banking with fraud prevention focus

Experts predict that 2025 will revolutionise AI in banking, enhancing fraud prevention, risk management, and customer experience, according to SAS.

By Kaleah Salmon • 3 min read • Wed, 8th Jan 2025

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

Endpoint Protection

BioCatch report underscores evolving fraud landscape in APAC

BioCatch's latest report reveals a dramatic shift in the APAC fraud landscape, with 70% of scams now stemming from mobile apps, highlighting new vulnerabilities.

By Catherine Knowles • 3 min read • Wed, 26th Jun 2024

Customer Experience

NFT Workx launches .WRKX domain to combat counterfeits online

NFT Workx and Unstoppable Domains launch .WRKX Web3 domain, enabling tokenised identities to combat counterfeiting.

By Shannon Williams • 3 min read • Wed, 29th May 2024

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

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

Generative AI

Ripjar unveils Compliance CoPilot for risk monitoring

London's Ripjar launches Compliance CoPilot, an AI-risk management assistant, aiming to revolutionise threat monitoring.

By Shannon Williams • 3 min read • Thu, 14th Mar 2024

Phishing

SEON report warns of complex fraud challenges ahead in 2024

SEON's 'Fraud Trends 2024' report warns of growing fraud challenges for businesses, citing AI advancements, Fraud-as-a-Service, and economic pressures as key factors.

By Tom Raynel • 2 min read • Mon, 11th Mar 2024

Risk & Compliance

Revolutionising AML workflows, First AML launches Source

First AML launches Source, a self-service platform to reinvent AML workflows, offering hope to businesses grappling with regulatory challenges.

By Sean Mitchell • 3 min read • Wed, 20th Sep 2023

Malware

FortiGuard predicts rise in advanced threat methods

New research predicts the convergence of advanced persistent threat methods with cybercrime, enabling a new wave of destructive attacks at scale.

By Mitchell Hageman • 4 min read • Tue, 8th Nov 2022

Malware

Cybercriminals laundered $8.6 billion worth of cryptocurrency in 2021 - report

Chainalysis is releasing its latest money laundering report analysing money laundering activity from the previous year.

By Ryan Morris-Reade • 3 min read • Fri, 28th Jan 2022

Stories from Other Regions

Money Laundering stories

Money Laundering

Corporate Digital Identity: a tool to combat financial crime

Financial crime is set to cost global economies USD $485.6 billion in 2023, prompting calls for Corporate Digital Identity to enhance fraud prevention.

By Melania Watson • 3 min read • Fri, 29th Nov 2024

Risk & Compliance

Ripjar appoints new CEO amid significant investment boost

Ripjar has secured a majority growth investment from Long Ridge Equity Partners, appointing Tom Obermaier as its new CEO to enhance global operations.

By Imee Dequito • 3 min read • Tue, 5th Nov 2024

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

Cloud Services

PAYSTRAX partners with Featurespace to boost fraud detection

PAYSTRAX partners with Featurespace to enhance fraud detection in the UK and Europe, aiming to address significant global fraud losses projected at USD $343 billion by 2027.

By Kaleah Salmon • 3 min read • Wed, 7th Aug 2024

Crypto

Finance professionals lead in AI adoption, report reveals

Finance professionals lead AI adoption, with 63% utilising it for fraud detection and risk management. Marketing and sales show lower usage at 27% and 19%.

By Melania Watson • 3 min read • Fri, 7th Jun 2024