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Latest /crime expert opinions

Pallavi Kapale

Pallavi Kapale Senior Financial Crime Officer (2LOD) at Bank of China (UK) Limited

The Journey from Writing to Exiting: The Importance of Suspicious Activity Reporting (SAR)

Are you looking to learn more about Suspicious Activity Reporting? From writing reports to exiting, I've got you covered! Let's dive in and explore the world of Suspicious Activity Reporting together. Filing Suspicious Activity Reports (SARs) is a critical process that facilitates financial institutions in their efforts to combat money laundering

/retail /crime Banking

Oliver Tearle

Oliver Tearle Head of Technology Innovation at The ai Corporation

Fraud Fighters Are Getting Smarter: How Machines Are Learning to Spot Sneaky Transactions

Fighting fraud is like playing a game of cat and mouse. But what if the 'mouse' could learn the cat's every move? Machine learning in fraud detection creates a system that constantly gets better at spotting fraudulent transactions, no matter how the fraudsters try to disguise them. This technology has been around for a while, with the first system...

/ai /crime Artificial Intelligence and Financial Services

Nick Green

Nick Green Director at Purple Patch Broking Ltd

Breaking down The Economic Crime and Corporate Transparency Act

The Economic Crime and Corporate Transparency Act (ECCTA) introduces key changes to Companies House, aiming to enhance the accuracy and reliability of business information. Designed to enhance transparency and combat economic crime, here’s how it will help: Reforms to Companies House: The ECCTA mandates that companies must have an ‘appropriate ad...

/retail /crime Banking

Garima Chaudhary

Garima Chaudhary Head of Fin. Crime Solution Consulting at Oracle

How to Get Started with GenAI in Financial Crime Compliance

There’s a new subset of artificial intelligence/machine learning (ML) that are taking over news feeds called Generative AI aka Gen AI. As compared to where traditional ML model output predicts, classify or cluster, Gen AI as the name suggests aims to create new content like text, video, audio, image, or code from the training data. Encouraged by...

/ai /crime Artificial Intelligence and Financial Services

Nickii Mallia

Nickii Mallia Business Development Manager at Aqubix Ltd - KYC Portal

Best Practices for Implementing a KYC/AML platform in Financial Institutions

In the rapidly evolving financial landscape, implementing a robust KYC/AML platform is paramount for financial institutions. Effective processes not only ensure regulatory compliance but also enhance customer experience and streamline operations. This blog outlines the steps for a successful KYC/AML platform implementation, addresses common challe...

/regulation /crime RegTech

Joris Lochy

Joris Lochy Product Manager at Intix | Co-founder at Capilever

Fraud Prevention 2.0: How Neo Banks Are Setting New Standards

Preventing fraud is a major concern for every financial institution. Banks, in particular, must ensure that only the rightful account owner accesses their account and that no incorrect payments are made. This involves tackling issues such as identity theft, accidentally misdirected payments, and Authorised Push Payment (APP) fraud. While a few yea...

/security /crime Exposing Financial Crime

Pallavi Kapale

Pallavi Kapale Senior Financial Crime Officer (2LOD) at Bank of China (UK) Limited

Inbound Evolution: Inbound Transaction Processing and Inbound Conversations

The Payment Services Regulations (PSR) approach will bring about a significant change for all the payment firms. Its aim is to proactively prevent Authorized Push Payment (APP) fraud from occurring. In APP fraud, customers are tricked into authorizing payments to fraudsters, making it difficult for banks to detect since the transaction appears leg...

/regulation /crime Banking

Pallavi Kapale

Pallavi Kapale Senior Financial Crime Officer (2LOD) at Bank of China (UK) Limited

Money Mules – Gaining fame in financial crime

Fraud accounts for atleast 40% of financial crime in the UK. In 2022, UK banks have identified over 39,000 accounts demonstrating behavior indicative of money muling[1]. NCA estimated that over GBP 10 billion is laundered via money mule activity in the UK annually[2]. The global increase in fraudulent activities is a growing concern for businesses...

/regulation /crime Banking

Joris Lochy

Joris Lochy Product Manager at Intix | Co-founder at Capilever

From Penalties to Best Practices: The True Cost of Compliance

Over the past two decades, the banking industry has faced staggering penalties for non-compliance, totaling an astonishing $387,559,149,283 (source: Violation Tracker). This colossal sum underscores a pressing issue: despite numerous efforts, the financial sector continues to grapple with compliance, with no signs of the penalties decreasing. Ever...

/regulation /crime RegTech

Kieran Holland

Kieran Holland Head of Technical Solutions at FinScan

Tackling Rising Data Volumes in AML

High-quality data is the bedrock of an effective anti-money laundering (AML) and watchlist screening programme. Incomplete or inaccurate data can lead to false negatives, potentially allowing illicit activities to go unnoticed. Conversely, it can trigger false positives, leading to unnecessary investigations and resource wastage. With data volumes...

/regulation /crime RegTech

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