498 Results from /crime
Joris Lochy Product Manager at Intix | Co-founder at Capilever
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...
08 July 2024 /regulation /crime RegTech
Kieran Holland Head of Technical Solutions at FinScan
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...
03 July 2024 /regulation /crime RegTech
Rodrigo Zepeda CEO at Storm-7 Consulting Limited
By Rodrigo Zepeda, CEO, Storm-7 Consulting INTRODUCTION In June 2024, the Financial Conduct Authority (FCA) published feedback on good and poor quality applications under the existing cryptoasset anti-money laundering (AML) and counter-terrorist financing (CTF) regime (Feedback) (FCA, 4 June 2024). The Feedback identified that out of 347 applicati...
28 June 2024 /crypto /crime Cryptocurrency Insights
John Bertrand MD at Tec 8 Limited
Bank Fraud was examined in clinical detail at LexisNexis ‘Trust:Live 2024 Conference. Fraud represents 49% of UK Crime. No one knows how many scammers are out there. The scale of scam messages, over 1 billion sent over the telecom networks this year, suggests a significant number of digital fraudsters. The Dedicated Card & Payment Crime Unit ...
27 June 2024 /payments /crime Artificial Intelligence and Financial Services
In June 2024, the Financial Conduct Authority (FCA) published feedback on good and poor quality applications under the existing cryptoasset anti-money laundering (AML) and counter-terrorist financing (CTF) regime (Feedback). This four-part blog series will aim to provide crypto firms and their compliance personnel (including Money Laundering Report...
27 June 2024 /crypto /crime Cryptocurrency Insights
Sheza Gary Project Strategiest at Self Employed
Magecart attacks refer to a common method of online fraud that have been around for almost a decade, and they continue to pose a serious threat to almost every financial organization, especially as e-commerce fraud becomes a growing concern. Security researchers say that Magecart groups have been active since at least 2016, and they are responsibl...
26 June 2024 /crime
26 June 2024 /crypto /crime Cryptocurrency Insights
In June 2024, the Financial Conduct Authority (FCA) published feedback on good and poor quality applications under the existing cryptoasset anti-money laundering (AML) and counter-terrorist financing (CTF) regime (Feedback). The Feedback identified that out of 347 applications from crypto firms received by the FCA since January 2020, only 47 appli...
25 June 2024 /crypto /crime Cryptocurrency Insights
Binh Dang Sales and Marketing Executive at smartKYC
In recent years, Know Your Customer (KYC) processes have become increasingly critical for financial institutions and other regulated entities to mitigate risks associated with money laundering, fraud, and terrorism financing. However, traditional KYC methods are often time-consuming, manual, and prone to errors The emergence of Natural Language Pr...
24 June 2024 /ai /crime RegTech
Brittany Allen Trust & Safety Architect at Sift
Walking the floor at the recent Merchant Risk Council (MRC) annual Las Vegas conference, I was struck by how often one particular topic kept coming up in my conversations with merchants across different verticals and sizes: refund fraud. Industry leaders and practitioners are seeing rampant refund abuse, representing a significant source of financ...
21 June 2024 /identity /crime
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