Latest Financial Crime News: Finextra Research

FCA finds firms wanting in applying sanctions controls

An FCA survey of sanctions controls at 90 UK firm has found deficiencies across a range of key indicators, including staffing, technology and reporting frameworks.

07 September 2023

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Financial crime becomes a hot ticket for investors as Strise raises $10.8 million

Nordic AML vendor Strise has raised a $10.8 million Series A funding round to drive international expansion, starting with the UK.

06 September 2023

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Financial crime detection outfit ThetaRay raises $57m

ThetaRay, the Isralei fintech that enables banks to monitor payment traffic to sniff out money laundering risks, has completed a $57 million fundraising round.

05 September 2023

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Germany faces €206 billion in cybercrime and digital theft costs - Bitkom

Losses resulting from stolen IT equipment and data, as well as digital and industrial espionage will cost Germany €206 billion in 2023, reveals a survey conducted by digital association Bitkom.

01 September 2023

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FCA urges Brits to watch out for loan fee fraud

With Brits under increasing financial strain this summer, the Financial Conduct Authority is urging Brits to watch out for signs of loan fee fraud.

09 August 2023

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How instant payments will impact financial crime mitigation

Speaking at the Temenos Community Forum at Vienna earlier this year, Finextra interviewed Adam Gable, product director of financial crime, treasury, and risk at Temenos, and Hani Hagras, chief science officer at Temenos to discuss how instant payments has been a catalyst to accelerate speed and innovation in financial crime mitigation.

26 July 2023

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Spanish banks form fraud fighting JV

Banco Santander, BBVA and CaixaBank have set up a company that will see the Spanish lenders share data that will help tackle financial crime.

25 July 2023

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FTX sues Sam Bankman-Fried for $1bn

The former boss of failed crypto exchange FTX, Sam Bankman-Fried, is facing a $1bn lawsuit from the company he founded.

21 July 2023

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Martin Lewis calls for regulation after featuring in deepfake AI scam

Consumer finance specialist Martin Lewis has spoken out after a deepfake scam video featuring his likeness was circulated on Facebook.

07 July 2023

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Mastercard AI tool helps UK banks take on real-time payment scams

Mastercard is tapping into its AI capabilities to help a host of UK banks predict and prevent real-time payment scams.

06 July 2023

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BBVA builds global financial crime prevention unit

BBVA has announced the launch of a unit to further strengthen the bank’s financial crime prevention structure.

03 July 2023

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Payments Association warns UK govt on APP fraud plans

The Payments Association has written to the UK government warning of the “unintended consequences” of new policies designed to reduce Authorised Push Payments (APP) fraud.

27 June 2023

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