Financial crime stories - Page 7

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.

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.

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.

SentinelLabs reveals North Korean operatives are masquerading as foreign IT professionals to infiltrate global tech markets and bypass sanctions.

The Entrust Cybersecurity Institute's 2025 report reveals AI-assisted fraud incidents surged, with deepfake attacks hitting every five minutes in 2024.

CommBank has unveiled new security features for its mobile app, including digital wallet reviews and scam warnings, to enhance customer protection against fraud.

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.

Microsoft's Digital Defense Report highlights a rise in cyber threats, naming Australia as the sixth most targeted nation with a 2.75-fold increase in ransomware.

Kaspersky has identified 547 dark web listings for software vulnerability exploits from January 2023 to September 2024, with average prices hitting $100,000.

BioCatch's latest report reveals a dramatic shift in the APAC fraud landscape, with 70% of scams now stemming from mobile apps, highlighting new vulnerabilities.

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.

A BioCatch study reveals that artificial intelligence (AI) is increasingly used by criminals for financial crime and digital fraud, posing significant challenges to global financial institutions.

Dow Jones Risk and Compliance is set to launch an AI-powered research platform, Dow Jones Integrity Check, promising to revolutionise diligence reports.

Neil Acworth steps into the role of Chief Information Security Officer at Encompass Corporation, bolstering the firm's commitment to delivering robust, data-centred financial security measures.

Specialist in compliance technology, Encompass Corporation, earns 'One to Watch' status from Chartis Research's FCC50 list, highlighting performance in battling financial crime.