Tag: financial crime

The journey of digital transformation has been a critical focus for financial institutions (FIs). While considerable progress has been made in digitising compliance and operational processes, a significant challenge remains: addressing Financial Crime comprehensively.

Fraud in the UK has become a significant concern, with 40% of crimes being fraudulent. Money muling is at the forefront, where fraudsters utilise synthetic or real mule accounts for financial gain. The UK government, recognizing the seriousness, plans to publish an action plan to combat this issue. 

AMLYZE, a renowned RegTech specializing in combating financial crimes, and Plumery, a leading provider of digital banking solutions, have recently announced their strategic partnership. This collaboration aims to redefine the FinTech landscape by integrating advanced anti-financial crime capabilities with innovative digital banking services.

Ripjar, renowned for its expertise in monitoring and investigating threats, risks, and criminal activities, has announced it now combines generative AI technologies with its risk profile capabilities. 

Fenergo's 2023 KYC Banking Trends Report has unveiled a concerning reality for US investment banks grappling with financial crime mitigation and regulatory compliance while encountering budget and workforce constraints.

Lynx, which focuses on detecting and preventing fraud and financial crimes, has closed its Series A funding round on €17m.

Refine Intelligence has announced a successful $13m seed funding round that is set enable them to transform Anti-Money Laundering (AML). 

Flagright, a global leader in AI-powered AML (Anti-Money Laundering) compliance solutions, has announced that it has onboarded iCore Technologies as its latest customer.

BankProv has partnered with financial crime effectiveness testing platform Cable, in a bid to enhance its financial crime compliance program.

Featurespace, a leader in enterprise-grade technology, has proudly introduced its innovative product, TallierLTM™.