Financial institutions stories

A study by Synectics reveals that 75% of money mules remain undetected without continuous KYC and AML screening, presenting a major threat to banks.

A report reveals that over 50% of financial institutions in Asia are failing to adopt AI for anti-money laundering, risking exposure to financial crime.

The persistent ability of criminals to exploit legitimate structures to launder money has banks and others on the hunt for new tools and techniques to counter the threat.

Devexperts has appointed Ben Hurley as its new CEO, signalling a clear focus on innovation and growth as the company expands its market presence.

Ripple has unveiled RLUSD, a USD stablecoin for enterprises, launching it with key partners like Uphold and Bitstamp to ensure global access.

A report from fintech Neo reveals 95% of Payment Service Providers have faced account closures or restrictions, often without bank explanations.

Ripple has unveiled an update to its Custody platform, enhancing features for fintechs with improved security and real-time transaction monitoring.

A new report reveals that over 32% of financial institutions lack clarity in supplier management, increasing their risk amid tightening regulations.

Commvault and Pure Storage have launched a joint cyber readiness solution to help financial institutions meet the EU's DORA regulations by 2025.

DAS unveils detailed regional crop growth data using satellite tech and AI, spotlighting sharp disparities in Australia's winter crop yields amid climate uncertainties.

A new FIS survey reveals security is the top concern for online banking in Singapore, with 56% noting increased fraud attempts and millennials most affected.

Xalts and Avalanche are teaming up to revolutionise financial institutions with custom blockchain networks and RWA tokenization, launching in Turkey with Misyon Bank.

Akamai’s new report reveals financial services face 34% of DDoS attacks, fueled by geopolitical tensions.

Binance Australia's September report reveals stabilised crypto markets after August's 13.1% decline, with Bitcoin support around USD $60,000. TRX surged 19.5%.

Mercedes-Benz’s Acentrik wins the 2024 Isle of Man Innovation Challenge, promising secure global data sharing and innovation across various industries.

Richard Seiersen, Chief Risk Technology Officer at Qualys, is helping businesses master cybersecurity risk measurement and communication.

The Asia Pacific faces a surge in fraud, with sophisticated methods like deepfakes pushing financial institutions to rely on AI and machine learning to combat evolving threats, Forrester reports.

Pieter Danhieux, CEO of Secure Code Warrior, transformed his passion for cybersecurity into a global mission, reshaping secure coding for 600+ clients worldwide.

Only 20.8% of finance professionals have stressed exit plans with suppliers, despite DORA recommendations, highlighting a key vulnerability exposed by a recent CrowdStrike outage.

Cloudera achieves PCI DSS Level 1 compliance, underscoring its commitment to cybersecurity and aiding financial institutions' AI-driven initiatives amid rising data breaches.