financial-crime
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The Shocking Truth About Money Mule Scams Endangering Students and Banks
Date: November 28, 2024
In today’s digital age, where scams and fraud are increasingly sophisticated, college students have become prime targets for cybercriminals. These young, often tech-savvy individuals are lured into intricate schemes, unaware of the severe consequences they may face. One such dangerous practice is money mule recruitment, a tactic where individuals are unknowingly used to launder illicit...
Huge Crime Network Forging Banksy, Warhol and Picasso Uncovered in Italy
Date: November 11, 2024
ROME (Reuters) – Italian police have uncovered a large-scale pan-European forgery network making and selling fake artworks attributed to some of the biggest names in modern and contemporary art including Banksy, Pablo Picasso and Andy Warhol. Some 38 people were placed under investigation in Italy, Spain, France and Belgium on suspicion of conspiracy to handle...
1inch Appoints a New Chief Compliance Officer
Date: November 6, 2024
Dubai, UAE, November 6th, 2024, FinanceWire 1inch is pleased to announce the appointment of Hedi Navazan as 1inch Group’s new Chief Compliance Officer. With a distinguished career spanning both the public sector, digital assets and traditional finance, Hedi brings a wealth of expertise in permissionless security and regulatory compliance and combating financial crime, reinforcing 1inch...
Nice Actimize Launches AI-Powered Fraud Investigations Solution to Mitigate Losses and Maximize Efficiencies
Date: October 9, 2024
Generative AI and advanced analytics automate processes to help financial institutions meet regulatory timelines and ensure customer satisfaction London, UK, September 24, 2024 – NICE Actimize, a NICE business (Nasdaq: NICE), today announced the availability of the market’s first AI-powered Fraud Investigations solution that facilitates end-to-end fraud management capabilities from detection to investigations. Explicitly designed to enable fraud investigations...
Britain Proposes New Powers for Banks in Fight Against Fraudsters
Date: October 3, 2024
LONDON (Reuters) – Britain is giving banks enhanced new powers to delay and investigate suspicious payments in a bid to slash the estimated 460 million pounds ($610 million) lost to fraud in the last year. New laws proposed by the UK finance ministry on Thursday will enable banks to pause transactions for up to...
Fighting Financial Crime: How the Property Sector Can Keep up With Evolving Regulations
Date: August 23, 2024
By Phil Cotter, CEO, SmartSearch Selling and buying property is an ideal cover to carry out money laundering, with criminals investing £6.7bn of suspicious funds into UK property since 2016. Data from HM Land Registry also shows the number of attempted property frauds has increased by 70% in the last five years. The property industry’s...