Tagged: financial crime

Jack Henry Announces Plan for Financial Crimes Platform

Jack Henry (Nasdaq: JKHY) announced the development of Jack Henry Financial Crimes Defender, the company’s financial crimes platform. The platform, planned to launch in early 2023, will aim to “deliver community and regional financial institutions the enhanced capabilities they need, including AI/ML, to gain visibility into… Read More

SEB Strengthens Work Against Combatting Financial Crime

SEB (Skandinaviska Enskilda Banken AB) is recruiting Nicklas Lundh, from the Swedish Police, and Ravi Shankar Sharma, Head of Intelligence Development, Investigations and Analytics at Nordea, to jointly “lead a new Financial Intelligence unit within SEB’s Financial Crime Prevention unit (FCP).” Nicklas Lundh and Ravi… Read More

OneBanx Selects Know Your Business Solution from PassFort

PassFort, A Moody’s Analytics Company that provides a SaaS Regtech platform that automates anti-financial crime and compliance processes, announced that OneBanx the shared banking innovator, “has chosen to use PassFort’s Know Your Business (KYB) workflow solution to create a seamless onboarding experience for business customers.”… Read More

Kyle Ferdolage: Lead Trust and Safety Analyst at N26 Says They’re Raising Awareness About Potential Scams

The past 12 months have seen phishing attacks rise 29% globally to reach a new record of 873.9M attacks, with the highest uptake of over 400% in the retail and wholesale industries, according to the 2022 ThreatLabz Phishing Report by ZscalerTM. The United States, Singapore,… Read More

Assetz Capital to Leverage RiskNarrative Platform to Address Financial Crime Management

Assetz Capital is pleased to enter a partnership with LexisNexis Risk Solutions in order to adopt the LexisNexis® RiskNarrativeTM platform across its business. The platform uses automation, AI and machine learning to offer an enhanced, configurable and accessible financial crime lifecycle management service. This should… Read More

SymphonyAI Expands Enterprise AI Financial Vertical Strategy via Key Acquisition

SymphonyAI, which claims to be a leader in “high-value” enterprise AI SaaS for strategic industries, announced it is acquiring financial crime detection firm NetReveal from BAE Systems. This acquisition marks “a significant step in SymphonyAI’s expansion strategy within the financial vertical.” Today’s banking regulatory landscape… Read More

HM Treasury Provides Update on UK’s AML/CTF Guidelines

HM Treasury had introduced a consultation in July of last year, entitled “Amendments to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 Statutory Instrument 2022.” This consultation outlined how the UK Government intended “to amend the UK’s Money… Read More

ComplyAdvantage Appoints Former WorldRemit Executive Mark Watson As CTO

ComplyAdvantage, a global data technology company transforming financial crime detection, announced that Mark Watson has been “named as the company’s Chief Technology Officer and newest addition to the leadership team.” In his role, Mark will “lead all engineering and technical innovation efforts including the expansion… Read More

Napier Expands North America Operations to Address Demand for AI-powered FinCrime Solutions

Napier, the provider of anti-financial crime compliance solutions, has announced the addition of two key hires to strengthen its North America team. Shana Leyva joins as Head of Marketing and Danielle Labarbera as Head of Sales. The new hires “represent Napier’s latest investment in the… Read More

Dublin based Regtech Fenergo Introduces Financial Crime Risk SaaS Solution

Fenergo, the provider of digital solutions for Know Your Customer (KYC) and client lifecycle management (CLM), recently announced the launch of FinCrime Risk. This application programming interface (API)-first software as a service (SaaS) solution will “allow financial institutions to centralize and automate risk assessment processes… Read More

TRM Integrates with Polygon to Offer Risk, Compliance Monitoring Capability

TRM Labs, which claims to be the industry “leader” in crypto compliance and risk management solutions, announced its integration with Polygon, an Ethereum scaling platform “onboarding millions to Web3, to provide a full suite of anti-fraud and financial crime tools to members of the Polygon… Read More

Financial Crime Risk Scoring Firm, Elucidate, Raises $8M in Capital

Elucidate, a financial crime risk management platform, has reportedly acquired $8 million in capital via a funding round that was led by AV8 Ventures, along with contributions from  Elevator Ventures, the corporate VC entity of Raiffeisen Bank International (RBI) and Tommy Nicholas, Founder and CEO… Read More

Digital Banking Platform N26 Explains Why it May Have to Block Certain Accounts

Every banking platform has an “important” duty to combat financial crime, and N26 claims that it is “no different.” As a fully-regulated bank, this is “not just a responsibility, but a legal requirement for [them] to do so,” the N26 team noted in a blog… Read More

Double Extortion Ransomware Increased Almost 500% in 2021, CipherTrace Reports

CipherTrace, a Mastercard Company, has reported a significant increase in the number of payments “made to ransomware groups in 2021.” The growth in this criminal enterprise “is so large that the first six months of 2021 saw payments that matched the whole of 2020.” With… Read More

Sygno, Provider of Automated Machine Learning Monitoring Models, Enters ING Labs Program

Sygno, the provider of Automated Machine Learning (AutoML) transaction monitoring models, has reportedly joined the recent cohort of scale-ups that will enter the ING Labs 2022 Program. During the 2022 program, Sygno will aim to bring its tech stack into ING’s transaction monitoring environment and… Read More

Resistant AI Partners with ComplyAdvantage Amid New International Sanctions

To properly address the stricter compliance rules resulting from extended sanctions and resulting increase in money laundering activity, ComplyAdvantage, an international data firm providing embedded counter risk intelligence to find, mitigate and stop financial crimes and Resistant AI, an AI and machine learning company providing… Read More

OurCrowd backed ThetaRay Appoints Peter Reynolds as CRO

ThetaRay, a provider of AI-enhanced transaction monitoring tech to protect banking institutions and Fintech platforms against financial crimes, recently revealed that it has solidified its international revenue operations with the appointment of Peter Reynolds as the firm’s Chief Revenue Officer. ThetaRay is an OurCrowd portfolio… Read More

SlowMist Explains How Peel Chains are Used to Launder Large Amounts of Cryptocurrency

SlowMist notes that not too long ago, they had released an update in regards to the Bitfinex incident. The report from SlowMist had covered how the stolen funds had allegedly been laundered using a technique known as “peel chain.” The company reveals that they received… Read More

Over 4,000 Criminal Whales are Holding $25B+ in Crypto: Research Report

One positive development during the past year has been law enforcement’s “growing” ability to seize virtual currency from criminals, according to an extensive update from Chainalysis. The US Department of Justice (DOJ) seized $2.3 million in crypto from the DarkSide ransomware operators who were allegedly… Read More

Meta and Fintech Chime to Reportedly Sue Alleged Phishing Scam Artists Operating in Nigeria

Mark Zuckerberg‘s Meta is teaming up Fintech Chime in order to go after (alleged) Nigerian scammers that the firms claim have been using social media channels to trick or deceive unsuspecting users out of their hard-earned cash. As reported by Newsweek, the lawsuit marks the… Read More

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