COVID-19: Prevent, Detect,
and Mitigate Financial Crime

Criminals are opportunists – they ascertain who is most desperate and vulnerable and where the greatest weaknesses exist and then exploit them.  Every February, one can expect to see articles warning about unscrupulous actors catfishing lonely-hearts or using one of the many dating apps to spread malware or ransomware. 

Consider the extraordinary display of fraud in the wake of Hurricane Katrina, a time of great human vulnerability and institutional weakness; in fact, the criminal activity prompted the U.S. Department of Justice to establish the National Center for Disaster Fraud (NCDF), when billions of dollars in federal disaster relief poured into the Gulf Coast region.  Since 2005, the NCDF has received more than 95,000 disaster fraud complaints 

On March 27, 2020, President Trump signed into law the $2 trillion U.S. Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide economic relief to families and businesses in response to the COVID-19 crisis. 

Unfortunately, it is not a matter of if bad actors will exploit weakness and vulnerability during this crisis – but the scale of it.  


  • Imposter Scams: fraudulently acting on behalf of an unwitting charity or government agency to solicit donations and/or obtain personal/private information.
  • Product Scams: promoting products that make false health claims to prevent or cure COVID-19.
  • Insider Trading: SEC and FinCEN are receiving reports regarding COVID-19 related to insider trading
  • Phishing Scams: emails sent by a fraudster claiming to be a legitimate company that encourages the recipient to click a hyperlink which enables malware to be downloaded or PII to be collected
  • Administrative fees. The check is a counterfeit check and the victim’s bank account is drained of money.

Learn more about FastStart, the COVID-19-related solution that ThetaRay has developed for financial institutions.


Leveraging AI to Unlock Revenue Corridors

  • Missing customer data and analyzing risk in complex, global transactions has always been the key to opening more revenue corridors in Correspondent Banking.
  • Managing effective compliance risk controls across a Correspondent Banking network is nearly impossible for a global bank when lacking visibility in the controls used by other members within the network.
  • ThetaRay gives financial institutions complete transparency to risk across complex, multi-bank global transactions with its “Full Transaction Path” unsupervised ML platform.
  • It’s “Pseudo-Customer Identity” engine creates synthetic proxies of non-bank customers to illuminate otherwise invisible risk to global FIs due to lack of data and inability to identify complex risk patterns.
  • Let us show you a live system so you can see for yourself how you can have complete transaction visibility, never again fear missing data and accelerate cross-border payment revenue with confidence & trust.
Coming Soon


Edward Sander

Chief Product Officer, ThetaRay


Eti Gwirtz

VP Product Management, ThetaRay

Jonathan Halevy

Senior Director Commercial Unit, ThetaRay


Re-Claiming Revenue Corridors in Correspondent Banking

September 9th 4:00 pm CET

  • All countries want access to safe, low-cost cross-border payment channels
  • FI’s relied on Correspondent Banking’s revenue & market access until compliance costs and criminal risk became too challenging
  • While banks “de-risked” by exiting, FinTechs entered to enjoy huge increases in the volume & value of cross-border payments
  • Learn how ThetaRay is opening revenue corridors safely to increase economic growth & trade, and how blind spots are being revealed bringing back trust to the financial network
Download Recording

Fighting Financial Crimes Effectively During Unstable Times

July 22, 2020, 11am CET

Download Recording

Webinar: Fighting Financial Crime During COVID-19 – The New Normal

April 28, 2020

Join our distinguished panel of experts as they discuss:

  • How are regulators showing flexibility in their supervisory approach
  • What new risks do FIs face as workers go remote and criminal activity increases
  • What are leading institutions doing to manage these new risks and comply with regulators
Download Recording

Webinar: Financial Crime: Reduce the Noise, Accelerate Time to Investigation

May 27th, 2020

As a result of challenges around , ThetaRay created FastStart: offering the power of ThetaRay’s machine-learning platform into a solution that takes weeks to go-live and achieves results like these:

  • 50% acceleration in analyst triage times for high-priority alerts
  • 40% reduction in overall false-positive noise
  • 30% fewer 3rd-party alerts
Download Recording