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UK payments could be delayed up to three days to prevent fraud

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UK payments could be delayed up to three days to prevent fraud

The UK Treasury will give banks new powers to delay payments by up to 72 hours to investigate suspected fraud or scams.

Ireland to grant National Cyber Security Centre emergency powers

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Ireland to grant National Cyber Security Centre emergency powers

Proposed legislation is set to give Ireland's cybersecurity agency the power to monitor all of the country's internet traffic when there is a "pressing national security threat".

Finextra & Eastnets unveil new data on the global state of trade-based financial crime

/crime

Finextra & Eastnets unveil new data on the global state of trade-based financial crime

Finextra this week released new research investigating how institutions globally are tackling the mounting issue of trade-based financial crime (TBFC).

Fraud, Error, and Debt bill proposed by UK Government

/crime

Fraud, Error, and Debt bill proposed by UK Government

The UK’s Labour government has announced the Fraud, Error, and Debt Bill to tackle fraud by requiring financial institutions to share data that indicate potential benefit overpayments.

Bank of England to form AI consortium

/crime

Bank of England to form AI consortium

The Bank of England (BoE) is calling on financial services firms to join its artificial intelligence (AI) consortium designed to oversee the use of the technology within the sector.

Firms struggling to find RoI for AI projects

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Firms struggling to find RoI for AI projects

More than half of the companies investing in artificial intelligence (AI) projects have been unable to extract any tangible benefit, according to recently published research.

Survey uncovers tech aversion within financial institutions

/crime

Survey uncovers tech aversion within financial institutions

The majority of UK-based financial firms are risk-averse when it comes to new technology, according to recently published research.

Macquarie Asset Management to pay nearly $80 million in SEC fraud charges

/crime

Macquarie Asset Management to pay nearly $80 million in SEC fraud charges

Macquarie Investment Management Business Trust (MIMBT), a registered investment advisor of Macquarie Asset Management, is to pay $79.8 million in a settlement with the US Securities and Exchange Commission (SEC) in connection with overvaluing assets and engaging in unlawful cross trades.

Klarna Bank criticised by FSA over money laundering risks

/crime

Klarna Bank criticised by FSA over money laundering risks

Klarna Bank has been upbraided by the Swedish Financial Supervisory Authority for failing to adequately deal with money laundering risks.

CFTC orders FTX to pay customers $12.7 billion

/crime

CFTC orders FTX to pay customers $12.7 billion

FTX has been ordered by the Commodity Futures Trading Commission (CFTC) to pay $12.7 billion to FTX customers and victims of its fraud, the largest recovery in CFTC history.

Finextra is getting a new look!

/crime

Finextra is getting a new look!

We’re excited to go live with Finextra’s new website next week.

ThetaRay boosts AI financial crime detection with Screena acquisition

/crime

ThetaRay boosts AI financial crime detection with Screena acquisition

AI-powered financial crime detection specialist ThetaRay has acquired screening company Screena. Financial terms were not disclosed.

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