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Fraud in the UK has become a significant concern, with 40% of crimes being fraudulent. Money muling is at the forefront, where fraudsters utilise synthetic or real mule accounts for financial gain. The UK government, recognizing the seriousness, plans to publish an action plan to combat this issue.
The Central Bank of Ireland recently conducted a Conduct Risk Assessment of Telephone and Electronic Communications in the securities market. This crucial assessment aimed to evaluate compliance with the Markets in Financial Instruments Directive (MiFID II), especially Article 16(7), which mandates firms to prevent the use of unauthorised communication.
Conveyancing, the legal transfer of property or land ownership, is a critical and complex process handled by licensed conveyancers. They manage everything from initial instructions to contract exchanges and final transactions. Each conveyancing case is unique, presenting its own set of challenges and requiring a meticulous approach.
In a recent post by Moody's Analytics, the firm asked three key questions about driving efficiency with AI-powered screening.
Moody's Analytics recently took the opportunity to explain how screening for politically exposed persons can strengthen KYC processes.
RegTech firm Flagright recently shone a light on the topic of fraud detection in FinTech, with a battle against synthetic identity theft ongoing.
The UK's Financial Conduct Authority (FCA) recently released a ten-point checklist for companies in anticipation of the new Consumer Duty regulation set to be enforced on July 31, 2023. This regulation marks a pivotal shift in the regulatory landscape, impacting both new and existing services and products available for sale or renewal.
In the data-driven epoch, secure, adaptable, and scalable fraud prevention systems hold immense significance, especially for financial institutions handling sensitive data and massive amounts...
Resistant AI, a company leveraging AI and machine learning to secure financial services, has declared the expansion of its Series A funding.