Financial institutions stories - Page 5

Europe's new AML rules mandate AI integration as legacy systems fail to detect complex financial crimes, urging banks to upgrade compliance technology now.

AI-driven fraud, including synthetic identities and real-time deepfake attacks, surges in financial services, prompting urgent defence upgrades for 2026.

Abacus Group opens Dubai office in DIFC to meet soaring IT and cybersecurity demands of financial firms amid UAE's growing investment appeal.

Tech Mahindra launches i.GreenFinance, an AI-powered platform to help global financial institutions manage green loans and comply with sustainability regulations.

S-RM has named Casey O'Brien as Global Head of Incident Response to boost its 24/7 cyber security services across EMEA, APAC and North America.

The US, UK and Australia have sanctioned Russian web-host Media Land and its leaders for aiding ransomware attacks via bulletproof hosting services.

A survey of 1,500+ professionals reveals trust, compliance, and identity assurance as crucial for mainstream adoption of Web3 wallets and digital asset services.

BioCatch launches Connect 2.0, a platform using behavioural and device data to fight rising digital banking fraud and AI-driven financial crimes globally.

AI-driven identity fraud in the UK has surged over 2,100% since 2021, with synthetic identities risking a £4.2 billion cost by 2027 without stricter screening.

Financial firms face rising fines and must adopt digital regulatory reporting to ensure compliance, cut costs and boost operational resilience in 2024 and beyond.

AI chatbots like ChatGPT are criticised for providing misleading UK financial advice due to outdated data and lack of context on tax and insurance matters.

eflow Global launches PATH AI, enhancing trade surveillance with transparent, auditable alerts amid USD $1.8bn market abuse fines globally this year.

Companies House's 12-month rollout of director ID checks risks burdening banks with costly double-checks amid potential gaps in company verification.

APP fraud, rising to 42% of UK losses in 2025, causes £2,300 lost per minute, urging banks and tech firms to boost joint防efforts.

Financial firms are embracing AI with a focus on trust, using it to enhance customer service and support staff, not cut jobs, amid growing governance concerns.

Nearly 80% of financial firms have neglected to verify exit plans of cloud and SaaS providers, risking major disruption in their technology supply chains.

Adclear secures GBP £2.1 million to expand its AI-powered platform that automates compliance for major UK financial institutions' marketing content.

UK firm Verifymy teams up with k-ID to integrate email-based age checks into developer toolkit, enhancing online safety for children amid growing global regulations.

Visa partners with Nium to pilot stablecoin settlement, enabling near-real-time cross-border payments and reducing traditional delays and costs.

A China-linked group launched a major AI-driven cyber-espionage campaign targeting global firms, performing 80-90% of hacking with minimal human input.