Anti-Fraud

Carefull, an AI-driven FinTech platform, has taken a significant stride forward in its mission to safeguard the finances of older adults. The company successfully closed...

FundingShield has announced a strategic partnership with SitusAMC, in a bid to tackle the rising challenges of wire and title fraud that have plagued financial institutions in recent years.

Swiss authorities recently took action against the daughter of Uzbekistan's former president, accusing her of crimes such as money laundering and bribery. This resulted in an asset freeze to the tune of $483m.

Resistant AI and Instabase have unveiled a strategic partnership, offering an amalgamation of expertise in the realms of financial crime prevention and unstructured data automation, respectively.

Established on 8 August 1967, the Association of Southeast Asian Nations (ASEAN) is a regional intergovernmental organisation consisting of ten countries in Southeast Asia. With the overarching goal of promoting political and economic cooperation and regional stability, ASEAN has been instrumental in fostering collaboration and integration among its member states.

Financial institutions play a pivotal role in preventing money laundering. Over the past 18 months, government bodies have frequently highlighted shell companies as significant red flags in anti-money laundering (AML) activities. Consequently, one must ask, is your institution actively identifying shell companies in its transactions? More importantly, can it detect shell companies with tangible sanctions and watchlist links?

The Commerce Fraud Bureau has formally charged a Minnesota broker with alleged involvement in a $650k fraud scheme. 

Vesttoo ended 2022 by obtaining the much coveted Unicorn status, however 2023 has been anything but a fairytale, as the Israeli FinTech has found itself mired in the midst of a public fraud scandal.

The Tel Aviv District Court has approved the seize of a total of NIS $30m from the ousted Vesttoo co-founders Yaniv Bertele and Alon Lifshitz.

With the traditional business landscape being pulled apart due to the ever-hastening digitalisation of our world, traditional brick-and-mortar business has become outdated. We now operate in a world thriving on third party relationships, but that extra complexity comes with extra risk.