As the financial payments landscape shifts, and as fraudsters employ new technologies and techniques, institutions are deploying a next generation of anti-money laundering defenses. David Stewart of SAS defines next-gen AML and how to embrace it.
There's a lot of talk about advancing the anti-money laundering arsenal to the next level, sometimes referred to as next-generation AML, AML 2.0 or AML 3.0. Whatever you call the next wave of AML technology, it's about solutions that draw on such advances as robotics, semantic analysis and artificial intelligence...
The IRS Criminal Investigation Cyber Crimes Unit is waging a battle against the use of cryptocurrency for financing terrorists and other money-laundering activities. Agents Chris Janczewski and Jon Gebhart describe recent cryptocurrency-related takedowns.
A international law enforcement operation involving 16 countries has resulted in the arrest of 20 individuals suspected of belonging to the QQAAZZ criminal network, which helped launder cash and cryptocurrency for other cybercriminals.
What will be the impact of the leak of investigatory documents from FinCEN - the U.S. Treasury Department's Financial Crimes Enforcement Network? For starters, experts warn that FinCEN reports may reveal sensitive information tied to banks and law enforcement agencies' investigatory tools and tactics.
Cybercriminals still prefer to use "money mules" and drug trafficking to launder money tied to their bank hacking activities rather than cryptocurrency transactions, according to a report from SWIFT, which handles intra-bank financial transactions.
The U.S. Justice Department has filed a civil forfeiture complaint in an effort to recover millions in cryptocurrency from 280 accounts that allegedly was stolen by North Korean hackers. Prosecutors believe much of the money was laundered through Chinese exchanges.
The U.S. Justice Department has seized more than $2 million worth of cryptocurrency from terrorist groups who solicited donations via social media and waged fraud campaigns.
Machine learning can play a significant role in mitigating money laundering risks, says Andy Gandhi, managing director, data risk and compliance at the consultancy Alvarez and Marsal.
Even before the pandemic set us on the road to a global recession, many banks were struggling to balance the polarising pressures of a changing world and keeping to business as usual.
Police have confiscated $90 million from a company allegedly owned by Alexander Vinnik, who is accused of money laundering and defrauding individuals through BTC-e, a cryptocurrency exchange he controlled.
The State Department is offering a $5 million reward for information about North Korean-sponsored hacking campaigns, according to an advisory released this week by several U.S. agencies about the ongoing threat these campaigns pose to financial institutions and others.
Typical identity verification solutions are falling short. They're vulnerable to data breaches and hacks. With so much compromised personal information, how do you know your genuine customers from your fraudulent ones? Get it wrong and you leave your business open to fraud.
Download our ebook to learn how to verify...
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