Financial crime stories - Page 7

Cyber scams and payment fraud are surging in Australian real estate, prompting experts to push for digital identity solutions to boost security and cut risks.

Experian and GBG expand their partnership to offer advanced fraud prevention and identity verification across Australia and New Zealand for faster, safer onboarding.

SEON launches AI-powered real-time AML suite, unifying fraud and compliance tools to enhance risk detection and streamline regulatory reporting.

Ecommpay has been shortlisted for three awards at the PayTech Awards 2025, recognising innovation in payments, anti-fraud, and diversity leadership.

BioCatch and The Knoble have launched a toolkit to help banks quantify losses and build a business case for stronger authorised push payment scam prevention.

An Infoblox investigation exposes how recruitment scams on Telegram target Australians with fake jobs, demanding crypto payments to continue employment.

Revolut's latest report reveals Meta platforms are the primary source of scams affecting consumers, with reported cases rising significantly in Australia and globally.

Bybit suffered a major hack, exposing vulnerabilities from human error rather than blockchain flaws, as attackers manipulated staff to divert funds.

Carol Chris, General Manager of GBG APAC, emphasises innovation in fraud prevention amid rising data breaches, as demand for compliance solutions grows.

Outpost24 has appointed Omri Kletter as Chief Product Officer, aiming to enhance its cyber risk management solutions and support growth heading into 2025.

A survey by SAS and KPMG reveals sluggish AI and ML adoption in anti-money laundering, with only 18% of financial institutions fully implementing these technologies.

Moody's highlights a six-year high in romance scams, unveiling 1,193 new entities globally in 2024, with the US leading at 38% of cases.

As the cybersecurity landscape evolves, organisations must adapt to emerging trends in 2025, prioritising cloud solutions, AI risks, and skills shortages.

Bureau has raised USD $30 million in a Series B funding round, aiming to tackle the global fraud crisis, which costs USD $486 billion each year.

A new report reveals banks using Corporate Digital Identity reduce onboarding time by 32%, enhancing compliance accuracy and operational efficiency.

SentinelLabs reveals North Korean operatives are masquerading as foreign IT professionals to infiltrate global tech markets and bypass sanctions.

The Entrust Cybersecurity Institute's 2025 report reveals AI-assisted fraud incidents surged, with deepfake attacks hitting every five minutes in 2024.

CommBank has unveiled new security features for its mobile app, including digital wallet reviews and scam warnings, to enhance customer protection against fraud.

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.

Microsoft's Digital Defense Report highlights a rise in cyber threats, naming Australia as the sixth most targeted nation with a 2.75-fold increase in ransomware.