Anti-money laundering (AML) stories

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.

LexisNexis Risk Solutions debuts its first Australian cloud hosting facility, enhancing local risk orchestration services with advanced compliance solutions.

HSBC and BNY Mellon join Quantexa's Lighthouse Programme to deploy Q Assist, a context-aware generative AI suite, debuting at London Tech Week to optimise financial services.

First AML has partnered with Open Banking tech platform Armalytix to boost Source of Funds and Source of Wealth capabilities for large conveyancing firms.

Global spend on Anti-Money Laundering systems by non-financial entities is set to soar 170%, reaching $6.3 billion by 2028, driven by stricter regulations.

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

In a strategic move, TrustQuay Viewpoint appoints industry veteran, Guy Harrison, as CEO to enhance global development and facilitate the digital transformation in the TCSP sector.

Despite budget cuts, a new survey reveals worries among UK c-suite executives over their firms' anti-money laundering procedures, with 49% partially confident in their compliance.

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.