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Financial crime Stories - Page 17

Asian Stories

Financial crime stories

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

Global Stories

Financial crime stories

Romance scams reach six-year high, Moody's reports
Social Media

Romance scams reach six-year high, Moody's reports

Moody's highlights a six-year high in romance scams, unveiling 1,193 new entities globally in 2024, with the US leading at 38% of cases.

By Shannon Williams • 3 min read • Thu, 13th Feb 2025
Key Cyber Security Trends to Watch in 2025
Advanced Persistent Threat Protection

Key Cyber Security Trends to Watch in 2025

As the cybersecurity landscape evolves, organisations must adapt to emerging trends in 2025, prioritising cloud solutions, AI risks, and skills shortages.

By Les Williamson • 5 min read • Thu, 30th Jan 2025
AI revolutionising financial crime detection by 2025
Quantum Computing

AI revolutionising financial crime detection by 2025

The future of financial crime prevention is being reshaped by AI and quantum computing, presenting both opportunities and risks, says Efficient Frontiers International.

By Shannon Williams • 4 min read • Mon, 27th Jan 2025
Bureau raises USD $30m Series B amid soaring fraud costs
Gaming

Bureau raises USD $30m Series B amid soaring fraud costs

Bureau has raised USD $30 million in a Series B funding round, aiming to tackle the global fraud crisis, which costs USD $486 billion each year.

By Sean Mitchell • 3 min read • Thu, 19th Dec 2024
Banks cut onboarding time by 32% with digital identity
Clean technologies

Banks cut onboarding time by 32% with digital identity

A new report reveals banks using Corporate Digital Identity reduce onboarding time by 32%, enhancing compliance accuracy and operational efficiency.

By Sean Mitchell • 2 min read • Wed, 4th Dec 2024
North Korean operatives exposed in global tech job scam
Malware

North Korean operatives exposed in global tech job scam

SentinelLabs reveals North Korean operatives are masquerading as foreign IT professionals to infiltrate global tech markets and bypass sanctions.

By Shannon Williams • 3 min read • Fri, 22nd Nov 2024
AI-driven fraud & deepfakes pose escalating global threat
Crypto

AI-driven fraud & deepfakes pose escalating global threat

The Entrust Cybersecurity Institute's 2025 report reveals AI-assisted fraud incidents surged, with deepfake attacks hitting every five minutes in 2024.

By Sean Mitchell • 3 min read • Wed, 20th Nov 2024
Microsoft warns of AI-driven cyber threats & ransomware rise
Unified Communications

Microsoft warns of AI-driven cyber threats & ransomware rise

Microsoft's Digital Defense Report highlights a rise in cyber threats, naming Australia as the sixth most targeted nation with a 2.75-fold increase in ransomware.

By Shannon Williams • 3 min read • Thu, 17th Oct 2024
Dark web sees surge in pricey software exploit listings
Advanced Persistent Threat Protection

Dark web sees surge in pricey software exploit listings

Kaspersky has identified 547 dark web listings for software vulnerability exploits from January 2023 to September 2024, with average prices hitting $100,000.

By Shannon Williams • 3 min read • Thu, 10th Oct 2024
BioCatch report underscores evolving fraud landscape in APAC
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
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

Stories from Other Regions

Financial crime stories

Corporate Digital Identity: a tool to combat financial crime
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
Outsourcing AML: Five key factors for financial firms
Outsourcing

Outsourcing AML: Five key factors for financial firms

EFI advises financial institutions on five key considerations for outsourcing AML operations amid rising regulatory pressures and operational costs.

By Sean Mitchell • 3 min read • Thu, 21st Nov 2024
CommBank app updates enhance security against scams
Crypto

CommBank app updates enhance security against scams

CommBank has unveiled new security features for its mobile app, including digital wallet reviews and scam warnings, to enhance customer protection against fraud.

By Sean Mitchell • 2 min read • Mon, 18th Nov 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
UK banking fraud predicted to exceed GBP $38 million by 2029
Biometrics

UK banking fraud predicted to exceed GBP $38 million by 2029

Fraudulent banking transactions in the UK could hit GBP $38 million over the next five years, warns Juniper Research, as the country battles a 111% surge in financial crime.

By Kaleah Salmon • 3 min read • Tue, 9th Jul 2024