Exits

pension

The digital dawn of pension planning in the UAE

Pension planning in the UAE is at a time of take-off. WealthTech firm Kidbrooke recently took the opportunity to delve into the topic.
Bitcoin

Is 2023 the year of Bitcoin’s death?

A blogpost by European Central Bank representatives has remarked that the current turmoil being seen in the crypto markets is ‘Bitcoin’s last stand’. 
Bank North

Bank North set to wind down following Series B failures

UK-based neobank Bank North has gone bust after the company failed to raise a new funding round.
Private equity firm FPL Partners exits Accordion

Private equity firm FFL Partners exits Accordion

Private equity firm FFL Partners has exited its position in Accordion, a private equity-focused FinTech consulting firm, selling its shares to Charlesbank Capital Partners.
qenta_inc acquires Noble Money in mission for financial inclusion

Qenta acquires Noble Money in mission for financial inclusion

Qenta, a financial infrastructure platform, has acquired Noble Money, an international remittance platform, to improve financial inclusion in emerging markets.

Google to purchase Mandiant in blockbuster $5.4bn deal

Google is set to acquire cybersecurity firm Mandiant in an all-cash deal that is being valued at $5.4bn.

RegTech company Ideagen accepts $1.3bn acquisition offer

GRC software management solutions developer Ideagen has agreed to a £1.05bn ($1.3bn) acquisition offer from private equity firm Hg Pooled Management.

PayTech TreviPay acquires Baton in undisclosed deal

TreviPay, a payment and credit management firm for B2Bs, has snapped up fellow PayTech Baton Financial Services for an undisclosed fee.

Madison Dearborn Partners buys MoneyGram for $1.8bn

Chicago-based private equity firm Madison Dearborn Partners has acquired MoneyGram International, a digital P2P payments company, in a $1.8bn deal.

Moody’s Corporation purchases pair of RegTech companies

Moody’s Corporation has acquired compliance automation platform PassFort and is set to purchase 360kompany, an onboarding technology developer.
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News Stories

Diverse week for FinTech as $1.1bn raised across 17 deals

Diverse week for FinTech as $1.1bn raised across 17 deals

It was a diverse week for FinTech funding, with deals closing across nine different countries.  There were a total of 17 FinTech funding rounds covered...
Sift enhances fraud insights with new metrics in industry benchmark tool

Sift enhances fraud insights with new metrics in industry benchmark tool

Sift, a leading AI-powered fraud prevention platform, has introduced significant updates to its Fraud Industry Benchmarking Resource (FIBR), a free online tool designed to provide key fraud metrics across various industries, geographies, and timeframes.
Bitsight acquires Cybersixgill in $115m deal to enhance cyber threat intelligence

Bitsight acquires Cybersixgill in $115m deal to enhance cyber threat intelligence

Bitsight, a global leader in cyber risk management, has announced its $115m acquisition of Cybersixgill, a prominent cyber threat intelligence (CTI) provider. This strategic move...
FinCEN issues alert on deepfake fraud schemes targeting financial institutions

FinCEN issues alert on deepfake fraud schemes targeting financial institutions

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a critical alert to assist financial institutions in identifying and addressing fraud schemes involving deepfake media created with generative AI (GenAI) tools.
change communication methods during a verification check.Some identity verification solutions may also flag possible attempts to circumvent verification checks, such as the use of third-party webcam plugins, which can let a customer display previously generated video rather than live video. Use of Deepfake Media in Phishing Attacks and Scams Criminals may also target financial institution customers and employees through sophisticated, GenAI-enabled social engineering attempts in support of other scams and fraud typologies, such as business email compromise (BEC) schemes, spear phishing attacks, elder financial exploitation, romance scams, and virtual currency investment scams.24For example, in family emergency schemes, scammers may use deepfake voices or videos to impersonate a victim’s family member, friend, or other trusted individual.25Similarly, criminals have reportedly used GenAI tools to target companies by impersonating an executive or other trusted employee and then instructing victims to transfer large sums or make payments to accounts ultimately under the scammer’s control.26 Financial Red Flag Indicators of Deepfake Media Abuse FinCEN identified the following red flag indicators to help financial institutions detect, prevent, and report potential suspicious activity related to the use of GenAI tools for illicit purposes.As no single red flag is necessarily indicative of illicit or suspicious activity, financial institutions should consider the surrounding facts and circumstances before determining whether a specific transaction is suspicious or associated with illicit use of GenAI tools. A customer’s photo is internally inconsistent (e.g., shows visual tells of being altered) or is inconsistent with their other identifying information (e.g., a customer’s date of birth indicates that they are much older or younger than the photo would suggest). A customer presents multiple identity documents that are inconsistent with each other.

Folks Finance secures $3.2m in Series A to advance crosschain DeFi solutions

Folks Finance, a DeFi platform specialising in lending, borrowing, and managing digital assets across multiple blockchains, has announced it raised $3.2m in an oversubscribed Series A funding round.
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