Tagged: financial crime

July 13, 2023 @ 7:46 am By Omar Faridi  |  

2023 so far has been a year of “recovery” for cryptocurrency after a chaotic 2022, with prices of digital assets like Bitcoin up over 80% on the year as of June 30, the team at Chainalysis noted. And that’s not the only “good news” for… Read More

July 8, 2023 @ 3:23 pm By Omar Faridi  |  

Apple has reportedly removed several malicous lending apps targeting unsuspecting users in India. The apps had allegedly used unethical methods in order to collect repayments, like threatening to send deepfake nudes to the borrowers’ personal contacts. In the last week, Apple (NASDAQ:AAPL) has removed various… Read More

July 7, 2023 @ 9:18 am By Omar Faridi  |  

FullCircl, the Customer Lifecycle Intelligence (CLI) platform that helps financially regulated businesses do better business, faster, and ComplyAdvantage, the firm focused on financial crime intelligence, announced a new partnership that will create a best-in-class onboarding and customer lifecycle management solution. When companies integrate with FullCircl… Read More

July 4, 2023 @ 7:19 am By Omar Faridi  |  

The National Anti-Scam Centre will be coordinating an investment scam fusion cell in order to address the growing problem of investment-related scams, which are now costing Australian consumers well over $1 billion a year. The fusion cell will reportedly be led by the ACCC and… Read More

July 3, 2023 @ 11:45 am By Omar Faridi  |  

Unit21, the risk and compliance infrastructure company, is pleased to share its $45 million Series C funding led by Tiger Global and South Park Commons in 2022. The funding has “supported the growth of the Fintech Fraud DAO consortium, which is experiencing a surge in… Read More

July 1, 2023 @ 7:07 pm By Omar Faridi  |  

TRM Labs, which claims to be the leader in blockchain intelligence solutions, released the Illicit Crypto Ecosystem Report, a detailed guide to the complex dynamics of crypto crime. The new report “identifies over 40 types of criminal activity, and reveals that a seismic shift in… Read More

June 28, 2023 @ 2:22 pm By Omar Faridi  |  

Resistant AI, an artificial intelligence (AI) and machine learning security company that protects financial services from financial crime, announced it has “expanded its Series A funding to $27.6 million, having raised an additional $11 million investment from Notion Capital.” This adds to the existing funding… Read More

June 21, 2023 @ 9:33 am By Omar Faridi  |  

The dramatic rise of cryptocurrency theft during the last couple years has become a serious concern for US authorities, who are increasing their efforts to crackdown on bad actors and illicit crypto-related activities. This past year, crypto-focused hackers have reportedly been able to steal around… Read More

June 19, 2023 @ 11:22 pm By Omar Faridi  |  

Elliptic – the global firm focused on crypto-asset risk management – has released a landmark report to equip compliance and law enforcement teams with the necessary tools to combat the next frontier of crypto crime. Elliptic’s flagship Typologies Report – which remains “the only comprehensive… Read More

June 12, 2023 @ 8:44 am By Omar Faridi  |  

AMLYZE, a RegTech company specializing in anti-financial crime solutions for FinTechs, neo-banks and crypto businesses, is pleased “to announce its strategic collaboration with Salt Edge, a leading open banking platform.” This commercial partnership “aims to enhance AMLYZE and Salt Edge’s client offering by leveraging both… Read More

June 9, 2023 @ 3:16 pm By Omar Faridi  |  

On June 8, 2023, Binance, which is being sued by US regulators for a wide range of issues, conducted a one-day training program in collaboration with Taiwan’s Criminal Investigation Bureau (CIB) in Taipei. This collaboration is “part of their broader commitment to contribute to combating… Read More

June 6, 2023 @ 11:59 am By Omar Faridi  |  

Online fraud and financial crime prevention platform SEON has released its latest ‘Global Banking Fraud Index’, which analyzes “the cost of fraud to banks and other financial institutions around the world in 2023.” Notably, the new review by SEON highlights the following: The value of… Read More

May 17, 2023 @ 10:45 pm By Omar Faridi  |  

Criminals have never had more avenues through which to defraud people, according to an update from ComplyAdvantage. This has been “fueled by the proliferation of technology ranging from instant messaging to new forms of remittance, like P2P and real-time payments.” That’s why ComplyAdvantage, a key… Read More

May 11, 2023 @ 7:34 pm By Omar Faridi  |  

Feedzai, a provider of financial crime and risk management solutions, today announced significant enhancements to its RiskOps Platform, “enabling banks to better protect their customers from a wide variety of financial scams.” These new Feedzai ScamPrevent capabilities “deliver detection, classification, and interception of the widest… Read More

May 10, 2023 @ 5:28 pm By Omar Faridi  |  

Resistant AI, the AI and machine learning financial crime prevention specialists, today announces that Bank of Valletta, the largest bank in Malta, is to adopt its Transaction Forensics product for anti-money laundering (AML). It will “enable the bank to prevent and detect transactions that are… Read More

April 23, 2023 @ 11:22 pm By Omar Faridi  |  

Financial crime prevention professionals at SEON have released their latest ‘Global Cybercrime Report’, which highlights the varying dangers associated “with cyber threats around the world.” The insightful report “combines data from three major cybersecurity authorities; National Cyber Security Index, the Global Cybersecurity Index, and the… Read More

April 22, 2023 @ 3:56 pm By Omar Faridi  |  

Feedzai, which claims to be the world’s first RiskOps platform for financial risk management, has released its latest report – The Human Impact of Fraud and Financial Crime on Customer Trust in Banks. The report, “based on research of 4,000 consumers in the UK and… Read More

April 15, 2023 @ 9:23 am By Omar Faridi  |  

The Calgary Police Service and Chainalysis are together launching the Western Canada Cryptocurrency Investigations Centre, an innovative regional center that will enable law enforcement to tackle crime that takes place using blockchain technology. By bringing together law enforcement agencies and personnel from across Western Canada… Read More

April 14, 2023 @ 3:12 pm By Omar Faridi  |  

Riskified (NYSE:RSKD), a key played focused on eCommerce risk intelligence, announced its partnership with Deloitte, which supports fraud and financial crime advisory services, to empower merchants “with real-time insight into how their chargebacks, approval rates and fraud costs compare to similar companies in their space.”… Read More

April 12, 2023 @ 11:50 pm By Omar Faridi  |  

CAT Labs, a start-up building forensic and cybersecurity tools to fight crypto-enabled crime, raised $4.3M in its pre-seed round led by Castle Island Ventures, Brevan Howard Digital, CMT Digital, and RW3 Ventures. Other participants in the investment round “include Newark Venture Partners, Hash3, Borderless Capital,… Read More