Anti-money laundering (AML) stories

New guidance from OFSI, effective May 2025, will require UK letting agents to monitor financial sanctions breaches, impacting 2.9 million rental homes.

A survey by SAS and KPMG reveals sluggish AI and ML adoption in anti-money laundering, with only 18% of financial institutions fully implementing these technologies.

Starburst reports record financial results for FY25, fuelled by a 94% surge in cloud product adoption and a 20% increase in net new customers.

Vespia has partnered with Mastercard to enhance merchant onboarding across multiple regions, aiming to streamline processes and cut onboarding times by up to 90%.

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.

SAS has been acknowledged by top analysts as a leader in risk management, fraud, AI, and analytics, reinforcing its critical role for financial institutions.

Ondo Finance has unveiled tokenised U.S. Treasuries on the XRP Ledger, boosting institutional access to short-term securities via Ripple USD.

A Ripjar study reveals over 60% of compliance teams expect Generative AI to revolutionise Anti-Money Laundering processes within two years.

EFI advises financial institutions on five key considerations for outsourcing AML operations amid rising regulatory pressures and operational costs.

CoinFlip has launched its Wallet service in Australia and New Zealand, enhancing the ease of cryptocurrency transactions for users in the region.

Jumio has appointed Mike Nawrocki as Chief Revenue Officer, bringing over 25 years of sales leadership to enhance its identity verification solutions.

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

Jumio has formed a strategic partnership with LatticeFlow AI to enhance AI-driven identity verification and bolster fraud protection ahead of EU regulations.

A study by Synectics reveals that 75% of money mules remain undetected without continuous KYC and AML screening, presenting a major threat to banks.

A report reveals that over 50% of financial institutions in Asia are failing to adopt AI for anti-money laundering, risking exposure to financial crime.

The persistent ability of criminals to exploit legitimate structures to launder money has banks and others on the hunt for new tools and techniques to counter the threat.

Easy Crypto reveals it returned NZD $2.7M to customers affected by fraud, shifting focus from trading volume to security and user protection in the crypto space.

Crypto ATMs are growing globally, with the US leading at 82% of market share. As the ecosystem expands, here's what to know before using one.

TanX has hit a quarterly trading volume of USD $1 billion, marking a 70% rise and underscoring the growing reliance on decentralized trading platforms.

Emerge and SquareOne introduce Blue tick email verification to combat phishing scams in New Zealand, enhancing trust and security in fintech communications.