Money laundering accounts for up to 5% of global GDP – or $2tn (£1.5tn) – every year, says the United Nations Office on Drugs and Crime. So banks and law enforcement agencies are turning to artificial intelligence (AI) to help combat the growing problem. But will it [...]
Machine learning platforms are an important technology that businesses are turning to in their fight against fraud and money laundering. These systems represent the next generation of detection and mitigation and provide a way for businesses to harness one of their greatest assets—their customer [...]
What you don’t know can hurt you. And when you’re processing millions of transactions per day, what you don’t know probably is hurting you. That’s why using unsupervised machine learning techniques to create a fuller picture of real cybersecurity risks in the big data era is a big priority [...]
This research service provides an overview on Artificial Intelligence (AI) applications in the Asia-Pacific (APAC) market. It also includes an analysis of the different roles played by AI service providers and identifies the strategic imperatives for growth opportunities in this [...]
Five individuals that are well placed to know, identify that cyber threats will dominate execution and planning in 2019 in this article. This isn’t rocket science. PSD2 demands new privacy and protections, including compliance with Strong Customer Authentication, be put in place by September 13th [...]
Payment trends in 2019 are wide and varied, but cybersecurity is set to take the limelight. Douglas Blakey speaks to experts on how to foil the conniving cyber criminal over the next [...]
Financial institutions are learning the hard way what can happen when criminals get their hands on the latest technology. Gone are the days of robbing tellers at gunpoint; today’s sophisticated criminal networks and nation-states use machine learning and artificial intelligence to target [...]
WASHINGTON/NEW YORK(Thomson Reuters Regulatory Intelligence) – The U.S. Treasury Department’s anti-money laundering unit and the federal banking regulators issued a joint statement on Dec.3 to encourage banks and credit unions to consider “innovative approaches,” including new [...]
What will be the major digital threats of 2019? What should enterprises be most prepared to defend against? When designing their digital perimeter, what should enterprises keep in the front of their mind? How will the digital threats of 2019 fare against next-generation [...]
With what has the potential to accelerate and expand the use of emerging technologies—including artificial intelligence, machine learning, and robotic process automation—federal banking regulators and the Treasury Department’s Financial Crimes Enforcement Network have issued a joint [...]
Financial institution executives have long seen artificial intelligence as a way to better and more efficiently combat money laundering, but have faced a challenging in implementing it — skeptical [...]
ThetaRay CEO Mark Gazit appointed to the International Technology Advisory Panel of the Monetary Authority of [...]
Boston, October 23, 2018 – Given customers’ rapidly rising expectations for digital banking experiences to match the integrated experiences they receive in other industries, financial institutions are under pressure to deliver a customer-centric, mobile-first digital experience that starts upon [...]
On August 10, 2018, the FBI warned financial institutions of a global ATM cash-out scheme they believed would occur within the next few days. Despite this advanced warning and additional details shared—the cybercriminals were able to launch a seven-hour attack on August 11, cashing out $11.5 [...]
Startups remain a key resource for CIOs seeking an innovative edge. From AI to data analytics to cybersecurity, here are 10 startups looking to fulfill IT leaders’ most pressing digital [...]
As financial fraud in the UK evolves, so too does the financial industry, stepping up its efforts to tackle the issue with new technologies, such as biometrics and artificial intelligence. [...]
In the last decade, most of us have experienced first-hand how digital technology has disrupted retail banking. In Europe alone 58.5% of customer bank online and increasingly fewer people see the branch as their main source of banking services. For most of us our bank is inside our [...]
Where AI is making a real difference is in catching criminals. Globally, United Nations Office on Drugs and Crime (UNODC) estimates that 2-5% of global GDP, or $800 billion to $2 trillion, is laundered annually. Money laundering is closely tied to other serious offenses such as terror financing, [...]
The anti-fraud sector remains a hotbed of risk management activity. As criminals become ever more technically proficient, Financial Institutions (FIs) find themselves in a constant ‘arms race’, attempting to stay one step ahead. In recent years, the main theme in anti-fraud has been diversity. [...]
The private market ecosystem in Israel has been maturing rapidly over the past few years, underscored by several big deals and the emergence of a technology cluster in the area around Tel Aviv known as Silicon [...]