Money Laundering stories

BioCatch's latest report on APAC digital banking fraud trends reveals a 70% rise in mobile app fraud and a dramatic 108% surge in voice scams, alongside a notable decline in fraud losses in Australia.

Group-IB aided a tri-nation police operation that dismantled a cyber fraud syndicate, linking it to over 1,899 cases in Singapore and losses exceeding USD $25 million.

Finance professionals lead AI adoption, with 63% utilising it for fraud detection and risk management. Marketing and sales show lower usage at 27% and 19%.

NFT Workx and Unstoppable Domains launch .WRKX Web3 domain, enabling tokenised identities to combat counterfeiting.

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

Report reveals increase in fraud cases amongst banks, with money laundering, account takeovers, and AI-generated threats posing significant risks.

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.

London's Ripjar launches Compliance CoPilot, an AI-risk management assistant, aiming to revolutionise threat monitoring.

SEON's 'Fraud Trends 2024' report warns of growing fraud challenges for businesses, citing AI advancements, Fraud-as-a-Service, and economic pressures as key factors.

AI is transforming the finance sector, improving customer service, battling fraud, and making repayments efficient.

First AML launches Source, a self-service platform to reinvent AML workflows, offering hope to businesses grappling with regulatory challenges.

New research predicts the convergence of advanced persistent threat methods with cybercrime, enabling a new wave of destructive attacks at scale.

Chainalysis is releasing its latest money laundering report analysing money laundering activity from the previous year.

Documents released under the OIA reveal degraded intelligence systems at the Department of Internal Affairs, risking data integrity.

Australian banks are urged to invest in artificial intelligence to combat money laundering, with 68% believing it is the solution.

Venture capital (VC) is a massive global industry, with record funding for startups, but tech isn't usually a factor. That's starting to change.

Singapore-based AI startup Silent Eight has won the top spot at the RegTech Association Australia’s inaugural pitch fest this year.

Singapore must not tarnish its reputation as an international financial centre and transport hub by becoming a transit point for money laundering.

​A new report from Bromium has landed with a number of startling findings, including the confirmation of a bustling cybercrime laundry market.

Cybercrime prevention agency C6 Intelligence has expanded its Asia operations through the appointment of a new APAC managing director for the region.