Tagged: fraud

August 6, 2025 @ 8:36 am By Omar Faridi  |  

European Fintechs, banks, insurers, and other financial institutions face growing operational strain as compliance demands and regulation intensify, according to new research from Sumsub. Compliance fatigue is now an “industry-wide concern.” According to Sumsub’s new report, The State of European Financial Services: 2025 Report: 51% of… Read More

August 5, 2025 @ 2:17 am By Omar Faridi  |  

The Autorité des Marchés Financiers (AMF), France’s financial markets regulator, has recently issued a series of critical updates aimed at safeguarding investors and ensuring the integrity of financial markets. These updates address unauthorized investment schemes, unregulated financial activities, and the oversight of asset management companies,… Read More

August 4, 2025 @ 10:01 pm By Omar Faridi  |  

The U.S. banking system, a major part of global finance, is under scrutiny for its role as a conduit for transnational crime. A recent update exposes critical vulnerabilities that enable fraud, money laundering, and other illicit activities. These systemic failures, rooted in outdated identity verification… Read More

July 29, 2025 @ 10:23 am By Omar Faridi  |  

In the evolving ecosystem of digital identity verification, Regtech Prove continues to focus on developing solutions that address critical challenges in fraud prevention, system integration, and regulatory compliance. Recent insights from Prove highlight the company’s commitment to tackling emerging risks and streamlining onboarding processes. Together,… Read More

July 29, 2025 @ 3:00 am By JD Alois  |  

European fraud prevention firm Trustfull has closed on a €6 million investment round led by Seaya Ventures and Elevator Ventures, according to a note from the company. Existing investor United Ventures also participated in the round. The new money is expected to be used to… Read More

July 26, 2025 @ 1:50 pm By Tony Zerucha  |  

While online fraud for companies has long been synonymous with payment fraud and account takeovers, a new wave of threats is gaining ground, led by first-party chargeback fraud, refund abuse, and, increasingly, AI-powered attacks. Nearly half of merchants, 47%, report a rise in fraud perpetrated by… Read More

July 25, 2025 @ 12:45 am By Tony Zerucha  |  

Socure, a digital identity verification platform, has launched its Workforce Verification solution to address the rapidly growing threat of employee fraud. Socure’s Workforce Verification adapts its enterprise-grade identity verification and fraud prevention specific to hiring workflows, detecting manipulated or fabricated identities before they enter organizations and addressing workforce risk at… Read More

July 10, 2025 @ 1:04 pm By Omar Faridi  |  

Visa (NYSE:V), the enabler of digital payments, is fighting back as scammers harness the power of artificial intelligence to target New Zealanders by using AI to combat AI. Launching its latest Security Roadmap for New Zealand, the bold three-year strategy aims to “protect consumers and businesses… Read More

July 5, 2025 @ 2:15 am By Omar Faridi  |  

Digital assets platform Kraken has recently made significant strides in expanding its offerings, strengthening its compliance framework, and aiding law enforcement in combating crypto-related crime. These developments, announced in late June and early July 2025, underscore Kraken’s commitment to bridging traditional finance with the crypto… Read More

July 4, 2025 @ 1:06 am By Omar Faridi  |  

New insights from Experian reveal that more than a third (35%) of UK businesses reported being targeted by AI-related fraud in the first quarter of 2025, compared to just 23% last year. The sharp rise is being driven by the “use of deepfakes, identity theft, voice… Read More

June 26, 2025 @ 4:26 pm By Omar Faridi  |  

Checkout.com, a global digital payments provider, today announced an extension to its partnership with the Merchant Risk Council (MRC), reinforcing a shared commitment to “helping its members navigate the growing complexities of digital fraud and payment risk.” The renewed multi-year agreement “expands both organizations’ investment… Read More

June 26, 2025 @ 9:01 am By Omar Faridi  |  

Mastercard (NYSE: MA) is focused on addressing modern financial challenges, from combating first-party fraud to embracing cryptocurrency. Recently, the global payments firm announced key initiatives that highlight its commitment to innovation, security, and bridging traditional finance with the digital economy. These developments—the expansion of the… Read More

June 18, 2025 @ 7:06 pm By Omar Faridi  |  

Riskified (NYSE: RSKD), a global enabler of e-commerce fraud prevention and risk intelligence, shared new insights from a live survey conducted at its flagship event, Ascend 2025, at the 1 Hotel Brooklyn Bridge in New York City. The survey results highlight key challenges and “opportunities… Read More

June 11, 2025 @ 2:27 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) says a US District Court in Massachusetts has ordered a default judgment against My Big Coin, My Big Coin Pay, and affiliated individuals John Roche and Mark Gillespie to pay a $25.7 million in penalties regarding allegations of digital asset… Read More

June 6, 2025 @ 5:56 pm By Omar Faridi  |  

Feedzai, the global firm focused on AI-native financial crime prevention, announced the launch of Feedzai IQ, a new family of solutions that enables network fraud intelligence without compromising customer privacy. Leveraging insights from hundreds of FIs across four continents and “over $8 trillion in annual… Read More

June 2, 2025 @ 11:36 am By Omar Faridi  |  

The UK housing market has experienced a significant surge in activity in 2025, driven largely by changes to stamp duty thresholds, according to a recent update from UK Finance. Separately, the organization’s Annual Fraud Report 2025 highlights a notable decline in fraud losses, reflecting advancements… Read More

June 1, 2025 @ 5:15 pm By Omar Faridi  |  

In 2024, the cryptocurrency industry witnessed an unprecedented surge in scams, with revenues potentially reaching a record-breaking $12.4 billion, according to blockchain analytics firm Chainalysis. The rise of artificial intelligence (AI) and the proliferation of “pig butchering” scams have significantly contributed to this alarming trend,… Read More

May 30, 2025 @ 2:35 pm By Omar Faridi  |  

The level of identity fraud prevented in the first three months of the year has soared by 10%, insights from Experian reveal. Nearly £130 million of third-party fraud “was stopped by financial institutions in Q1 of 2025, up from £118 million compared to the same… Read More

May 28, 2025 @ 3:19 pm By Omar Faridi  |  

Jumio, the firm focused on AI-powered identity intelligence anchored in biometric authentication, automation and data-driven insights, released the 2025 Jumio Online Identity Study. This year’s results paint a stark picture: trust in digital life “is crumbling under the weight of deepfakes, misinformation and cybercrime.” The… Read More

May 27, 2025 @ 7:55 am By Omar Faridi  |  

In a report titled All Roads Lead to China, TRM Labs, a blockchain intelligence firm, has unveiled the intricate web of Chinese underground banking networks that have emerged as the financial linchpin of global illicit activities. These networks, leveraging both traditional and modern financial mechanisms,… Read More