Latest Financial Crime News: Finextra Research

EBAday 2024: 100 banks registered and ready to fuel the payments technology conversation

Q. What does the payments sector look for in a conference? A. The number of banks registered to attend and the number of bank speakers on the agenda, ready to openly communicate to the audience how they are currently leveraging technology.

29 May 2024

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Ex-Citi employee files wrongful termination lawsuit alleging the bank hid data from regulators

A former managing director at Citigroup is suing the bank and COO for unlawful termination on the grounds of allegedly refusing to provide regulators with false information.

24 May 2024

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EU expands AML regulation impacting cryptocurrency compliance

The European Parliament has voted to adopt a package of laws to strengthen the EU’s AML and terrorist financing toolkit, with a particular impact on the cryptocurrency industry.

26 April 2024

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NextGen Nordics 2024: Can behavioural biometrics fix fraud?

Moderating her second panel of the day - Fraud prevention and AML: the need for behavioural biometrics in this instant age - Finextra’s senior reporter Niamh Curran spoke to Megan Heald, senior project manager at NICE Actimize, John Sam-Kubam, senior vice president at Crown Agents Bank, Beju Shah, head of Nordic centre at the Bank of International Settlements, and Robert Woods, director international market planning and financial services SME at LexisNexis® Risk Solutions.

25 April 2024

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Lloyds warns against fraudsters on Booking.com and Airbnb

With summer holidays on the horizon, Lloyds Bank is cautioning customers against scams as they book their vacations.

12 April 2024

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Insurers target crypto market

The global insurance industry is turning its attention to the risks posed by cryptocurrencies and digital assets, judging by recent product announcements.

10 April 2024

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Cyber attacks cost financial firms $12bn says IMF

Financial services firms have been hit with $12bn in losses over the last two decades as a result of cyber attacks, according to a recently published report from the International Monetary Fund (IMF).

10 April 2024

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Google sues crypto scammers using Play Store to lure victims

Google is suing two app developers who lured victims into downloading fraudulent investment apps on the Google Play Store.

05 April 2024

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Turkish crypto chief starts 11,196-year prison sentence

Faruk Fatih Ozer, the former boss of failed Turkish cryptocurrency exchange Thodex, has started a lengthy jail sentence after he was found guilty of defrauding investors in a multimillion dollar fraud.

03 April 2024

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Banks told to expand risk management to cover AI

A report from the US Treasury has called on banks to bolster their risk management frameworks in order to avoid being overwhelmed by AI-powered fraudsters and cybercriminals.

28 March 2024

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Russia-linked fintechs hit with US sanctions

The US government has imposed sanctions on 13 fintechs for offering crypto-based services to Russian firms looking to evade the economic restrictions in place since the outbreak of war in Ukraine.

26 March 2024

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'Pig-butchering' tops payment scam threats

Pig-butchering, an investment scam involving fake crypto companies, has emerged as one of the top payment threats facing consumers.

21 March 2024

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