financial-crime
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Luxury Yacht Owned by Sanctioned Russian Oligarch Docked in Hong Kong
Date: October 7, 2022
By Tyrone Siu HONG KONG (Reuters) – A luxury yacht worth over half a billion U.S. dollars belonging to sanctioned Russian oligarch Alexey Mordashov has docked in Hong Kong waters, according to shipping records, after a week-long voyage from Russia. Mordashov was among a number of Russian oligarchs sanctioned by the European Union and the...
Advancing on a Cloud: Driving Digital Transformation in Financial Crime
Date: September 28, 2022
As CEO of NICE Actimize, Craig Costigan has continued to steer the leading provider of financial crime solutions by expanding into new markets, addressing the growing demand for cloud-focused solutions, and forging innovation across the full scope of anti-money laundering, enterprise fraud, holistic surveillance, and case management. In driving innovation, Craig’s teams of cloud developers,...
Creating a “Fairness-Aware” Financial Crime Culture With Responsible AI-based Systems
Date: September 12, 2022
By Danny Butvinik, Chief Data Scientist, NICE Actimize Some of the newest, advanced technologies that are being launched often have their own specific issues that must be considered during adoption stages to successfully fight fraudsters without regulatory repercussions. In fraud detection, model fairness and data bias can occur when a system is more heavily weighted or...
Analysis-Beyond Yachts and Planes: U.S. Turns to Foreign Agent Laws to Curb Russian Influence
Date: August 4, 2022
By Luc Cohen NEW YORK (Reuters) – In the five months since the U.S. Department of Justice launched a task force to seize Russian oligarchs’ assets to pressure Moscow over its invasion of Ukraine, prosecutors also have targeted something less tangible: Russia’s influence. Prosecutors in that period have charged five Russians with acting on the...
The Role of AI in Helping Banks to Tackle the Next Fraud Epidemic
Date: August 3, 2022
By Sujata Dasgupta, Global Head of Financial Crime Compliance Advisory at Tata Consultancy Services, discusses the current state of financial crime and why regulatory tech and artificial intelligence are becoming essential in tackling these threats. Financial institutions are no strangers to money laundering and fraud. However, the rate and complexity at which financial crime operations...
Man Charged Under Britain’s Treason Act Over Christmas Day Incident at Queen’s Home
Date: August 2, 2022
By Michael Holden LONDON (Reuters) – A man arrested with a crossbow at Queen Elizabeth’s Windsor Castle home on Christmas Day last year has been charged with having a weapon with intent to “alarm her Majesty” under Britain’s Treason Act, police and prosecutors said on Tuesday. Jaswant Singh Chail, 20, from Southampton in southern England,...