Financial crime stories

Australia scam losses climb to AUD $295.4 million as reports fall, with phishing, investment fraud and AI-driven tactics driving bigger hits.

Norton warns travellers that scammers are using real hotel reservation data to send convincing payment demands through trusted apps and emails.

ACI and Kinexys by J.P. Morgan embed account and payee verification into bank payment flows as instant-transfer fraud pressures mount.

Heligan Group launches strategic advisory unit to tackle sanctions, ownership and cyber risk for investors, defence clients and high-net-worth buyers.

CommBank deploys agentic AI to uncover emerging fraud and scam patterns, generating detection rules across 80 million daily payment signals.

Australia's online gambling operators face tighter identity checks as regulators intensify scrutiny over fraud, money laundering and responsible gaming.

Entrust rolls out Australia-ready identity verification using government records, biometrics and AI as tougher AML rules widen compliance checks.

Spektr lands USD $20 million Series A from NEA as Copenhagen AI compliance platform targets manual checks at banks and fintechs.

Tether leads USD $150 million recovery plan as Drift Protocol seeks to restore user balances and restart trading after April exploit.

Ecommpay urges eCommerce overhaul as fraud report says current controls miss social engineering, distort competition and leave merchants exposed.

Oracle expands its financial crime platform with Lucinity's AI investigation tools, aiming to cut compliance workloads for banks and regulated firms.

Foreign banks in Australia face pressure to tighten anti-money laundering checks after AUSTRAC found weak reporting, blind spots and money mule exposure.

Cambodia scam compounds are being tied to a mobile banking fraud network that hit users in 21 countries, researchers say.

Persistent and Databricks launch Merchant Risk Management and Fraud Detection solution for banks and payment providers facing rising digital payment fraud.

Custodia says financial firms must widen record-keeping to cover collaboration tools, messaging apps and AI-generated content as regulators step up scrutiny.

Access Group survey finds most Australian accountants are unprepared for looming anti-money laundering rules, with many yet to start compliance work.

iProov warns iOS injection attacks surged 1,151% in late 2025 as generative AI fuels deepfake impersonation and identity fraud.

Barry Plant and other firms back My Databoss as Australia's Tranche 2 AML reforms drive demand for audit-ready compliance tools.

CommBank research finds staff are more likely than managers to spot workplace scams, as email-based payment redirection fraud keeps hitting Australian firms.

Data quality gives banks a scalable route to digital trust, cutting fraud and false positives while speeding onboarding, KYB and AI-driven checks.