Financial crime stories

Atturra teams with Comtrac to roll out AI-powered investigation tools for Australian law enforcement and regulators via a single service channel.

UK unveils GBP £15 million anti-corruption drive, but experts warn sidelined fraud strategy leaves main source of dirty money unchecked.

Thirdfort adopts iProov biometrics to streamline UK property ID checks and combat AI-driven fraud in deals worth billions of GBP £1.6bn+.

AI-fuelled synthetic ID fraud is surging, set to cost firms USD $23 billion by 2025 and USD $58.3 billion by 2030 without stronger checks.

Group-IB has launched a Cyber Fraud Intelligence Platform to help UK banks tackle GBP £600m fraud by securely sharing real-time risk signals while ensuring data privacy.

UK banks face rising AI-driven fraud in 2026 as criminals exploit gaps in regulation, prompting calls for urgent cross-sector action to protect consumers.

Europe's new anti-money laundering rules mandate AI integration, as legacy systems fail to meet rising financial crime challenges and regulatory standards.

Europe's new AML rules mandate AI integration as legacy systems fail to detect complex financial crimes, urging banks to upgrade compliance technology now.

Australia's real-time network has blocked over AUD $60m in fraud attempts, protecting 85% of bank customers with advanced behavioural payment analysis.

Qilin ransomware group has targeted 25 South Korean finance firms using managed service providers, exposing 2TB of data in a politically charged cyberattack surge.

Willem Wellinghoff, Ecommpay's Chief Compliance Officer, has joined The Payments Association Advisory Board to enhance compliance and support industry growth in the UK.

Despite billions invested in AI, financial firms see slow adoption as solutions must prioritise trust, transparency, and augment human judgement over automation.

US banks boost AI spending to combat rising check fraud, linked to USD $12.5 billion loss, ahead of the holiday season peak in fraudulent activities.

SEON launches enhanced AML platform tools to help businesses manage complex cross-border compliance with flexible screening and investigative analytics.

AI-driven identity fraud costs UK economy GBP £1.8 billion yearly, with synthetic identities causing 42% of cases amid rising festive season threats.

BioCatch launches Connect 2.0, a platform using behavioural and device data to fight rising digital banking fraud and AI-driven financial crimes globally.

ThetaRay’s AI modules for AML and sanctions screening have gained key validation from Kaufman Rossin, aiding compliance with evolving US and EU regulations.

Most anti-fraud experts report a surge in AI-driven fraud, yet under 10% feel prepared to combat rising deepfake and synthetic identity threats.

Tokenovate has bolstered its senior engineering team with four key hires to enhance digital settlement and meet rising client demand ahead of T+1 settlement in 2027.

AI-driven identity fraud in the UK has surged over 2,100% since 2021, with synthetic identities risking a £4.2 billion cost by 2027 without stricter screening.