Anti-money laundering (AML) stories

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.

Emerge, a disruptive platform aimed at revolutionising New Zealand's business banking landscape, has launched.

FICO's study reveals prolonged fears of identity theft among Indonesians, as 36% remain anxious, heightening vulnerabilities to financial loss and credit damage amid growing risks from real-time payments.

London's Finkr consultancy launches today, pledging to transform the fintech sector with its forward-thinking strategy and advanced tech solutions.

Global spending on Anti-Money Laundering (AML) systems is projected to reach USD $51.7 billion by 2028, an 80% increase driven by AI's role in enhancing risk assessment, according to Juniper Research.

NextGen's digital lending technology, specifically its Verification of Identity service, NextGenID, boosts home loan approval efficiency, reducing approval times by 25% on the ApplyOnline platform.

Lithuanian RegTech firm, iDenfy, teams up with Czech fintech, CO2IN, to bolster the verification process, making carbon credit transactions safer and directly aiding the fight against climate change.