Financial Crime/Fraud Prevention

Early Warning Services, has launched Verify Identity, a synthetic identity fraud detection solution for qualifying financial services organisations, mobile network providers, corporations and government entities.

Fleet, an endpoint visibility technology vendor, has pulled in $20m from a Series A funding round led by venture capital firm CRV.

The cryptocurrency market is booming. With new technologies and new products launching on the market, the industry is seemingly going from strength to strength. With new technologies, however, come new challenges. How is the industry changing money laundering?

In an age of heightening tension where sanctions are being imposed globally, being able to decode and identify politically exposed persons is becoming more and more vital.

Since the onset of Covid-19, financial crime and fraud has continued to rise in number and stature – which criminals riding the great wave of the mass migration online.

New Zealand-based RegTech platform First AML has reportedly nabbed £15.6m in its Series B funding round alongside its launch in the UK.

As more and more people move online, financial crime is increasing – subsequently increasing the opportunities for cases of money laundering. As industry players continue to search for the silver bullet to tackle financial crime, RegTech firm Lucinity is focused on helping to clean up the financial world.

In a world that is continuing to become more connected and less restricted by place, there are growing challenges surrounding the increasingly fluid nature of financial crime. Prior to 2020, financial crime in the digital world was already growing. However, with the onset of the pandemic, this practice was set to skyrocket.

Over 90% of European FinTech companies plan to adopt AI-enabled risk decisioning to combat fraud, according to a study by risk decisioning software developer Provenir.

Cloaked, a company looking to support data privacy on platforms, has secured $25m in early-stage funding.