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Money Laundering Stories - Page 6

Australian Stories

Money Laundering stories

Global Stories

Money Laundering stories

LockBit takedown reshapes ransomware threat landscape
Firewalls

LockBit takedown reshapes ransomware threat landscape

Secureworks' Counter Threat Unit reveals a marked shift in the ransomware landscape, with LockBit's influence waning amidst coordinated law enforcement efforts.

By Sean Mitchell • 3 min read • Wed, 19th Feb 2025
Romance scams reach six-year high, Moody's reports
Social Media

Romance scams reach six-year high, Moody's reports

Moody's highlights a six-year high in romance scams, unveiling 1,193 new entities globally in 2024, with the US leading at 38% of cases.

By Shannon Williams • 3 min read • Thu, 13th Feb 2025
AI poised to transform banking with fraud prevention focus
Robotics

AI poised to transform banking with fraud prevention focus

Experts predict that 2025 will revolutionise AI in banking, enhancing fraud prevention, risk management, and customer experience, according to SAS.

By Kaleah Salmon • 3 min read • Wed, 8th Jan 2025
Experts urge vigilance against growing digital fraud risks
Firewalls

Experts urge vigilance against growing digital fraud risks

Experts warn that rising digitalisation fuels fraud, with AI aiding cybercriminals, prompting calls for robust security and real-time threat response.

By Melania Watson • 3 min read • Thu, 14th Nov 2024
BioCatch report underscores evolving fraud landscape in APAC
Endpoint Protection

BioCatch report underscores evolving fraud landscape in APAC

BioCatch's latest report reveals a dramatic shift in the APAC fraud landscape, with 70% of scams now stemming from mobile apps, highlighting new vulnerabilities.

By Catherine Knowles • 3 min read • Wed, 26th Jun 2024
NFT Workx launches .WRKX domain to combat counterfeits online
Customer Experience

NFT Workx launches .WRKX domain to combat counterfeits online

NFT Workx and Unstoppable Domains launch .WRKX Web3 domain, enabling tokenised identities to combat counterfeiting.

By Shannon Williams • 3 min read • Wed, 29th May 2024
First AML launches AI Assist to expedite compliance tasks
Risk & Compliance

First AML launches AI Assist to expedite compliance tasks

First AML launches AI Assist, promising to reduce compliance tasks to 60 seconds, expediting KYC and AML processes by 90% through automated data extraction.

By Sean Mitchell • 3 min read • Wed, 15th May 2024
Oracle launches AI-powered platform to combat money laundering
Risk & Compliance

Oracle launches AI-powered platform to combat money laundering

Oracle unveils AI-powered Finance Services Compliance Agent to help banks combat a predicted $5.05tn in money laundering in 2024, through enhanced transaction monitoring and risk-control efficiency.

By Catherine Knowles • 3 min read • Tue, 9th Apr 2024
Ripjar unveils Compliance CoPilot for risk monitoring
Generative AI

Ripjar unveils Compliance CoPilot for risk monitoring

London's Ripjar launches Compliance CoPilot, an AI-risk management assistant, aiming to revolutionise threat monitoring.

By Shannon Williams • 3 min read • Thu, 14th Mar 2024
SEON report warns of complex fraud challenges ahead in 2024
Phishing

SEON report warns of complex fraud challenges ahead in 2024

SEON's 'Fraud Trends 2024' report warns of growing fraud challenges for businesses, citing AI advancements, Fraud-as-a-Service, and economic pressures as key factors.

By Tom Raynel • 2 min read • Mon, 11th Mar 2024

Stories from Other Regions

Money Laundering stories

UK sees 63% rise in savings accounts used for fraud
Credit card fraud

UK sees 63% rise in savings accounts used for fraud

Reports indicate a staggering 63% rise in the misuse of savings accounts for fraud in the UK last year, outpacing a 12% increase in current accounts.

By Shannon Williams • 3 min read • Fri, 7th Mar 2025
Corporate Digital Identity: a tool to combat financial crime
Money Laundering

Corporate Digital Identity: a tool to combat financial crime

Financial crime is set to cost global economies USD $485.6 billion in 2023, prompting calls for Corporate Digital Identity to enhance fraud prevention.

By Melania Watson • 3 min read • Fri, 29th Nov 2024
Ripjar appoints new CEO amid significant investment boost
Risk & Compliance

Ripjar appoints new CEO amid significant investment boost

Ripjar has secured a majority growth investment from Long Ridge Equity Partners, appointing Tom Obermaier as its new CEO to enhance global operations.

By Imee Dequito • 3 min read • Tue, 5th Nov 2024
PAYSTRAX partners with Featurespace to boost fraud detection
Cloud Services

PAYSTRAX partners with Featurespace to boost fraud detection

PAYSTRAX partners with Featurespace to enhance fraud detection in the UK and Europe, aiming to address significant global fraud losses projected at USD $343 billion by 2027.

By Kaleah Salmon • 3 min read • Wed, 7th Aug 2024
Group-IB helps bust Southeast Asian cyber fraud syndicate
Cybersecurity

Group-IB helps bust Southeast Asian cyber fraud syndicate

Group-IB aided a tri-nation police operation that dismantled a cyber fraud syndicate, linking it to over 1,899 cases in Singapore and losses exceeding USD $25 million.

By Kaleah Salmon • 3 min read • Tue, 18th Jun 2024
Finance professionals lead in AI adoption, report reveals
Crypto

Finance professionals lead in AI adoption, report reveals

Finance professionals lead AI adoption, with 63% utilising it for fraud detection and risk management. Marketing and sales show lower usage at 27% and 19%.

By Melania Watson • 3 min read • Fri, 7th Jun 2024
Report reveals 76% of banks face sophisticated fraud threats
Biometrics

Report reveals 76% of banks face sophisticated fraud threats

Report reveals increase in fraud cases amongst banks, with money laundering, account takeovers, and AI-generated threats posing significant risks.

By Shannon Williams • 3 min read • Fri, 10th May 2024