Tagged: financial crime

Elliptic Joins IWF to Prevent Financing of Exploitation via Crypto and Blockchain Infrastructure

Elliptic, an enabler of digital asset decisioning, partnered with the Internet Watch Foundation (IWF) to strengthen efforts in preventing the financing of abusive images and videos through cryptocurrencies and blockchain infrastructure. This strategic membership will allow Elliptic to “integrate IWF’s specialized data on cryptocurrency payment… Read More

Feedzai IQ Defends Banking Platforms Against AI-Enabled Fraud with Privacy-Preserving Network Intelligence

Feedzai, the global firm focused on AI-native financial crime prevention, announced the launch of Feedzai IQ, a new family of solutions that enables network fraud intelligence without compromising customer privacy. Leveraging insights from hundreds of FIs across four continents and “over $8 trillion in annual… Read More

ThetaRay and Spayce to Combat Financial Crime and Secure Payments with Cognitive AI

ThetaRay, a global firm focused on Cognitive AI financial crime compliance, and Spayce, a cross-border payments platform, announced a partnership to combat evolving financial threats and enhance global payment security. The announcement comes at a time “when the financial crime landscape is undergoing a transformation.”… Read More

Industrial Firms Report Cyberattacks Costing Millions of Dollars – Kaspersky Research

The majority of industrial organizations estimate their financial losses caused by cyberattacks at “over $1,000,000, while almost one in four report losses exceeding $5,000,000, and for some, it surpasses $10,000,000.” These findings were revealed in a joint study “conducted by Kaspersky and VDC Research.” A… Read More

TRM Labs Exposes Chinese Underground Banking as Backbone of Illicit Finance

In a report titled All Roads Lead to China, TRM Labs, a blockchain intelligence firm, has unveiled the intricate web of Chinese underground banking networks that have emerged as the financial linchpin of global illicit activities. These networks, leveraging both traditional and modern financial mechanisms,… Read More

Issuer Processing Fintech Enfuce Aims to Eliminate Financial Crime Risks Associated with Card Transactions

Issuer processing Fintech Enfuce unveils the Fortitude Pledge, a compliance and security standard, that aims to “eliminate 100% of financial crime risks across all Enfuce-processed card transactions.” Because aiming to stop “100% of human trafficking, money laundering, and terrorist financing is not optional—it’s essential.” Anything… Read More

Fraud Driven by AI and Hyper-Realistic Impersonations, but Banks Using GenAI to Combat Financial Crime – Report

Feedzai, the global firm focused on AI-native financial crime prevention,  released its 2025 AI Trends in Fraud and Financial Crime Prevention report, uncovering how generative AI (GenAI) is used in financial fraud. More than 50% of fraud involves the use of artificial intelligence. Generative AI… Read More

Crypto Losses Soar as Hacks and Money Laundering Schemes Become Increasingly Sophisticated – Report

The cryptocurrency ecosystem continues to face relentless challenges from hacks, scams, and sophisticated laundering operations, with 2025 already marking a grim milestone in crypto crime. According to detailed research reports from Immunefi, Elliptic, and Chainalysis, the scale of financial losses and illicit activity in the… Read More

Brazilian Crypto Ponzi Scheme Mastermind Sentenced to Record 128 Years in Prison

A Brazilian court has reportedly sentenced Joel Ferreira de Souza, the lead launderer behind the Braiscompany cryptocurrency Ponzi scheme, to an unprecedented 128 years, 5 months, and 28 days in prison—one of the longest sentences for financial crimes in Brazil’s history. Alongside de Souza, two… Read More

Binance Shares Insights into State of Crypto related Crime and Compliance Efforts

At the Cyberport Blockchain Security Summit 2025 in Hong Kong, industry professionals and regulators convened to address the evolving landscape of crypto-related crime. Binance, represented by Nils Andersen-Röed, Global Head of the Financial Intelligence Unit (FIU), shared critical insights into the state of cryptocurrency crime,… Read More

HK Authorities Enhance Fight Against Financial Crime

The Hong Kong Monetary Authority (HKMA), Hong Kong Police Force (HKPF), and The Hong Kong Association of Banks (HKAB) jointly announced a series of measures aimed at enhancing the prevention and detection of financial crime, including fraud and money laundering. Authorities are responding to a… Read More

Chainalysis and Spanish National Police Dismantle Ponzi scheme that Defrauded 50,000+ Victims

Chainalysis partnered with the Spanish National Police in Operation Bonanza to dismantle an international Ponzi scheme that defrauded over 50,000 victims worldwide. This operation, which reportedly amassed more than $500 million in cryptocurrency, underscores the importance of technology and public-private collaboration in combating illicit financial… Read More

Regtech Hawk Reports $56M Series C as Banks Adopt Its AI to Combat Financial Crime

Alexander Hamilton Money Dollars USD

Hawk, the provider of AI-powered anti-money laundering (AML), screening and fraud prevention solutions, announced its $56 million Series C round of funding. Hawk is the chosen partner for more than “80 customers globally, ranging from large banks to mid-market financial institutions and fintechs.” Its technology… Read More

Revolut Releases Consumer Security and Financial Crime Report, Revealing Evolving Tactics of Fraudsters

Revolut, the global fintech claiming 50 million+ customers, released its Consumer Security and Financial Crime Report, revealing the evolving tactics of fraudsters globally. The report highlights that criminals are increasingly “turning to encrypted messaging services to exploit victims, with the proportion of fraud originating on… Read More

Fraudulent Credit Applications, False Identity Cases Increased YoY in the UK – Report

Insights from Experian reveal the rise of ‘synthetic fraud’ in the UK. Recent analysis of confirmed fraudulent and potentially fraudulent credit applications shows that there was “an increase of 60% in false identity cases in 2024 when compared to 2023, with the cases now making… Read More

AI Not “Silver Bullet” as Compliance Professionals Struggle with Rising Costs and Complexity – Report

Growing levels of financial crime and regulatory “scrutiny” are forcing organizations to step up spending on compliance, but they are “less sold on AI as the standalone solution,” according to a survey of risk and compliance officers by LSEG Risk Intelligence. The survey finds that… Read More

Stenn Group with Alleged Links to Russian Money Laundering Case May Leave Creditors £100M Out of Pocket

A London-based financial services startup, Stenn Group, has reportedly entered administration, leaving creditors facing losses of over £100 million. The company, which specialized in invoice finance, had been under investigation by HSBC, its lender, following allegations of links to a Russian money laundering case. As… Read More

Central Bank of Ireland Launches First Innovation Sandbox to Combat Financial Crime

The Central Bank of Ireland has launched its first “innovation sandbox programme,” introducing seven private-sector ventures focused on tackling financial crime. The initiative provides a controlled environment for testing new technologies, enhancing collaboration between the central bank and the fintech sector, and advancing solutions to… Read More

Financial Crime Prevention Firm Themis Introduces Compliance Solution in Saudi Arabia

Themis, a global firm that’s focused on financial crime prevention, announces the official launch of Tathabbat. This reportedly marks an important step in Saudi Arabia’s fast-growing compliance landscape, aligning with Vision 2030 as well as the Middle Eastern nation’s ongoing push to adopt innovative Know-Your-Finance… Read More

TRM Labs Shares Insights After Ilya Lichtenstein Sentenced For Roles In Bitfinex Hack As Government Recovers $10B in Stolen Assets

Ilya Lichtenstein was sentenced to 60 months for his alleged role in laundering more than 120,000 Bitcoin, which was reportedly stolen from the crypto exchange Bitfinex in 2016. This was the sentence recommended by Department of Justice (DOJ) attorney Jessica Peck. Lichtenstein’s wife, Heather “Razzlekhan” Morgan, is… Read More

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