Anti-money laundering (AML) stories

SEON expands its Asia-Pacific team in response to growing demand for advanced fraud prevention and anti-money laundering solutions across the region.

SentBe is the first Korean fintech to win Singapore's Cross-border Remittance Licence amid rising demand from growing expatriate communities.

Neo4j launches Aura Graph Analytics, a serverless, no-ETL graph analytics solution that boosts AI insights by up to 80%, available on a pay-as-you-use basis.

Australian AI compliance startup Haast has raised AUD $6 million to expand globally and enhance its platform used by Telstra, Aviva, and Zurich for faster, automated compliance.

Fivecast has launched a groundbreaking AI-driven platform to bolster financial crime investigations, aiding institutions in meeting stringent AML compliance demands.

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

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.