Financial crime stories

Significant rise in identity fraud targeting European firms, with 59% reporting more attacks despite 74% feeling confident in their defences, Signicat finds.

UK fintech hiring is set to surge 32% in 2025, driven by rising demand for compliance, cybersecurity, and engineering roles amid regulatory shifts.

Ecommpay has been shortlisted for three awards at the PayTech Awards 2025, recognising innovation in payments, anti-fraud, and diversity leadership.

BioCatch and The Knoble have launched a toolkit to help banks quantify losses and build a business case for stronger authorised push payment scam prevention.

BioCatch appoints Andreas Dombret as senior advisor to boost global growth and fight financial crime with innovative technology.

An Infoblox investigation exposes how recruitment scams on Telegram target Australians with fake jobs, demanding crypto payments to continue employment.

UK mobile banking fraud surged 11% in 2024 as scammers shift from voice scams, with card fraud and remote iOS attacks also on the rise, reports BioCatch.

Revolut's latest report reveals Meta platforms are the primary source of scams affecting consumers, with reported cases rising significantly in Australia and globally.

Bybit suffered a major hack, exposing vulnerabilities from human error rather than blockchain flaws, as attackers manipulated staff to divert funds.

Carol Chris, General Manager of GBG APAC, emphasises innovation in fraud prevention amid rising data breaches, as demand for compliance solutions grows.

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.

Outpost24 has appointed Omri Kletter as Chief Product Officer, aiming to enhance its cyber risk management solutions and support growth heading into 2025.

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.

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.

As the cybersecurity landscape evolves, organisations must adapt to emerging trends in 2025, prioritising cloud solutions, AI risks, and skills shortages.

The future of financial crime prevention is being reshaped by AI and quantum computing, presenting both opportunities and risks, says Efficient Frontiers International.

The UK aims to lead in artificial intelligence with a new AI Opportunities Action Plan and GBP £14 billion investment from tech firms to enhance various sectors.

Bureau has raised USD $30 million in a Series B funding round, aiming to tackle the global fraud crisis, which costs USD $486 billion each year.

A new report reveals banks using Corporate Digital Identity reduce onboarding time by 32%, enhancing compliance accuracy and operational efficiency.

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