Tag: financial institutions

The FBI has recently highlighted an alarming trend: cybercriminals are increasingly employing AI to conduct their nefarious activities. According to an FBI public service...

Money laundering activities in the United States alone are estimated to total $300bn annually. In 2023, penalties for anti-money laundering (AML) violations in the U.S. exceeded $5bn—a 69% rise from the previous year. These figures underline the urgent need for a more effective approach to combatting financial crime.

The RegTech sector has gained significant traction in the financial industry over the past few years, with global adoption accelerating. According to market projections, the RegTech market is expected to hit $25.19bn by 2028, driven by financial institutions’ need to navigate mounting regulatory pressures.

Zest AI, a leader in AI-powered lending technology, has secured a $200m growth investment from Insight Partners, a global software investor.

Global Screening Services (GSS), a prominent RegTech innovator, has published its 2024/2025 Sanctions Survey, revealing key insights into how financial institutions are adapting to the evolving sanctions landscape.

Sanctions are essential mechanisms employed by countries and international bodies to support national security, uphold human rights, and combat illegal activities such as terrorism, drug trafficking, and international crimes.

Capitolis has recently announced a significant boost in funding, marking another milestone in its ambitious growth trajectory.

The DORA is poised to fundamentally alter the regulatory landscape for EU financial entities and their third-party providers from 17th January 2025.

Sanctions screening is an integral aspect of AML practices, ensuring organisations do not inadvertently engage with entities or individuals subject to international or national sanctions, thereby avoiding facilitating unlawful activities.

The recently implemented CS3D established by the European Commission on July 25, 2024, mandates a radical shift in how financial institutions handle their operations and global value chains.