Exits

Intuit to acquire Credit Karma in $7.1bn deal to help people struggling with their...

Two Fintech companies who say they share a mission of solving finance problems for people will work closely together after a new acquisition deal.

Small World adds French market to its network after MoneyGlobe acquisition

Money transfer company Small World Financial Services has acquired international payments company MoneyGlobe.

Alphacomm to improve fraud capabilities with new acquisition

Payments company Alphacomm will improve its anti-fraud capabilities through the acquisition of Mi-Pay.

VersaPay’s shareholders agree to sell the company to Great Hill Partners

FinTech VersaPay is one step closer to being acquired by 1233518 B.C., an affiliate of private equity firm Great Hill Partners, after shareholders voted...

Klarna aims to strengthen its underwriting capabilities through Moneymour acquisition

Swedish FinTech unicorn Klarna has bought Italian payment company Moneymour from its founders and minority investors.

BioCatch acquires AimBrain’s biometric tools

BioCatch, a behavioural biometrics platform, has acquired AimBrain’s authentication platform for an undisclosed amount.

Aon looks to boost cyber insurance operations with new deal

Aon, a risk, retirement and health solutions provider, has acquired Canadian cybersecurity platform Cytelligence.

SCVX reveals $200m IPO as it looks to acquire cybersecurity companies

SCVX, a blank check company, has revealed its initial public offering (IPO) which is being raised so it can acquisition and combination of cybersecurity companies.

ServiceNow acquires conversational AI platform Passage AI to boost language support

Cloud-based platform ServiceNow has acquired conversational AI platform Passage AI, for an undisclosed amount.

CFC acquires cyber insurance underwriter

Specialist insurance provider CFC has acquired ThreatInformer, a provider cyber insurance underwriting, broking and reinsurance.
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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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