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BlackRock

BlackRock faces legal action over ‘sustainable’ investment claims

ClientEarth has filed a complaint against BlackRock with France's financial regulator, the Autorité des marchés financiers (AMF). According to ESG News, the complaint accuses...
finfluencer

Demand soars for finfluencer verification amid rising UK investment scams

New research from Barclays highlights a critical gap in the due diligence process of UK investors using social media for financial guidance.
Agentech, a leading AI-powered workforce solution provider for insurance claims, has successfully raised $3m in seed funding within 30 days.

Agentech raises $3m to revolutionise insurance claims with AI-driven solutions

Agentech, a leading AI-powered workforce solution provider for insurance claims, has successfully raised $3m in seed funding within 30 days. The funding will fuel the...

New York DFS unveils AI cybersecurity guidance to protect financial sector

The New York State DFS has announced a fresh set of guidelines intended to bolster cybersecurity measures against threats posed by AI.

ESG attitudes tracker reveals rising confidence in FCA sustainability labels

The latest ESG Attitudes Tracker from the AIC reveals that the new FCA labels are set to enhance trust in sustainability claims among financial advisers and wealth managers.
Kroll, a leading independent provider of global risk and financial advisory solutions, has announced that Katherine Keefe will be joining the company as managing director and global cyber insurance industry lead.

Katherine Keefe joins Kroll as managing director to lead global cyber insurance capabilities

Kroll, a leading independent provider of global risk and financial advisory solutions, has announced that Katherine Keefe will be joining the company as managing...
APAC

Sustainable bonds in APAC account for a quarter of global supply

At the recent Sibos 2024 conference, BNP Paribas' Chuaoni Huang highlighted that APAC supplies nearly 25% of the global sustainable bonds market, an assertion made during a panel focused on climate resilience and social impact.

ICC introduces innovative principles for sustainable trade finance

The ICC has recently launched its innovative Principles for Sustainable Trade Finance (PSTF) during the Sibos 2024 conference. Developed in collaboration with leading experts from...
Cytora, a leading digital risk processing platform, has announced a partnership with Meetrisk to enhance marine insurers’ access to advanced tools for better risk evaluation and management.

Cytora and Meetrisk join forces to boost marine risk intelligence for insurers

Cytora, a leading digital risk processing platform, has announced a partnership with Meetrisk to enhance marine insurers’ access to advanced tools for better risk...

Standard Chartered unveils sustainable finance variants to boost trade loan flexibility

Standard Chartered has unveiled the sustainable finance variants of BBTL, marking a significant expansion of its finance solutions.
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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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