While financial institutions race to adopt the latest anti-fraud tools, one truth is becoming undeniable: financial crime is no longer isolated. It is fast-moving, complex, and coordinated across multiple platforms, jurisdictions, and institutions.
And yet, most banks, FinTechs and crypto firms still respond in silos—leaving the door open for criminals to exploit the gaps, claims Salv.
The scale of the problem is significant. In Poland alone, credit fraud attempts amounted to 324.2m PLN (€75m) in 2024, according to the Polish Bank Association. Across Europe, similar scams involving multiple actors and rapid transfers make detection extremely difficult—especially when financial institutions fail to collaborate in real time.
While criminals coordinate freely, institutions often hesitate due to legal concerns and operational inertia. Many fear that sharing intelligence could violate data protection laws, result in accidentally debanking legitimate customers, or raise suspicions of tipping off. This hesitation has resulted in fragmented defences and delayed responses to financial crime.
According to Salv, a company specialising in collaborative technology for fighting financial crime, the real issue is not the absence of technology, but a lack of legal clarity and institutional trust. Over the past five years, Salv has worked with more than 100 financial institutions and numerous regulators to define and implement intelligence-sharing frameworks that meet both legal and operational standards.
Rather than rely on outdated bulk data-sharing methods, Salv enables real-time, peer-to-peer communication between institutions. This involves sharing just enough information—like red flags and typologies—to assess risk and stop fraudulent activity early, without violating customer privacy or GDPR requirements.
So, what does intelligence sharing look like in practice? It’s a structured, secure exchange of alerts between financial institutions at the suspicion phase of fraud or money laundering. Whether it’s a bank, payment processor, or virtual asset service provider, the goal is the same: notify each other early to stop scams before the money disappears for good.
Unfortunately, most institutions still operate under a reactive model. Fraud is detected only after funds have moved and the trail has gone cold. And when coordination does happen, it often relies on insecure communication methods—phone calls, emails, or undocumented channels—leaving firms exposed to reputational and compliance risk.
But intelligence sharing is not only possible—it’s legal. EU data protection laws and domestic AML regulations support the exchange of specific, relevant information as long as it is proportional and purpose-driven. Institutions involved in the same transaction can lawfully share signs of suspicion to prevent harm, so long as customer data is handled appropriately.
The key to enabling this shift lies in trust and mutually agreed frameworks. Salv facilitates this through both human engagement and technology. In countries like Estonia, Poland, Denmark and the UK, the firm brings together compliance professionals to build relationships, discuss challenges, and share best practices. These relationships form the basis for broader cross-sectoral partnerships.
Salv Bridge, the firm’s encrypted communications platform, supports this trust by enabling auditable, role-based message exchange. By using structured templates and clear protocols, institutions can ensure that only the right information is shared, at the right time, with the right people.
As BNP Paribas Bank Polska’s Dr. Grzegorz Hansen highlighted, collaboration must evolve from informal to structured, cross-sector partnerships: “Banks, payment service providers and VASPs are not talking to each other as well, and as often as they could be.” For him, breaking silos is not just a benefit—it’s a necessity.
Ultimately, the path forward is clear. The legal groundwork exists. The technology is available. Now, it’s time for institutions to move from caution to collaboration. Proactive, intelligence-led cooperation will improve fraud recovery, speed up investigations, and protect more customers.
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