Tag: financial crime

The United Kingdom has emerged as the global hotspot for shell company risks, according to the latest interactive research unveiled by Moody’s Analytics.

In 2023, the global regulatory landscape unveiled a startling revelation as fines imposed by authorities exceeded a colossal $10.5bn. This figure not only reflects the stringent enforcement actions but also spotlights the emerging areas of regulatory scrutiny.

In recent years, the management of Material Non-Public Information (MNPI) has emerged as a significant concern within the compliance sphere. Regulatory bodies in the...

Automated Clearing House (ACH) payments are a staple in modern financial transactions, offering a quick and efficient means for businesses and consumers to move...

The journey of digital transformation has been a critical focus for financial institutions (FIs). While considerable progress has been made in digitising compliance and operational processes, a significant challenge remains: addressing Financial Crime comprehensively.

Fraud in the UK has become a significant concern, with 40% of crimes being fraudulent. Money muling is at the forefront, where fraudsters utilise synthetic or real mule accounts for financial gain. The UK government, recognizing the seriousness, plans to publish an action plan to combat this issue. 

AMLYZE, a renowned RegTech specializing in combating financial crimes, and Plumery, a leading provider of digital banking solutions, have recently announced their strategic partnership. This collaboration aims to redefine the FinTech landscape by integrating advanced anti-financial crime capabilities with innovative digital banking services.

Ripjar, renowned for its expertise in monitoring and investigating threats, risks, and criminal activities, has announced it now combines generative AI technologies with its risk profile capabilities. 

Fenergo's 2023 KYC Banking Trends Report has unveiled a concerning reality for US investment banks grappling with financial crime mitigation and regulatory compliance while encountering budget and workforce constraints.

Lynx, which focuses on detecting and preventing fraud and financial crimes, has closed its Series A funding round on €17m.