Financial crime stories

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.

BMO broadens quantum outreach with new partnerships in Canada and Chicago, aiming to shape banking's readiness on security, talent and governance.

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

Researchers link Android banking trojan to Cambodia scam compound, exposing a malware-for-hire network impersonating banks and agencies across 21 countries.

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.

World Cup guide urges banks to spot scams and trafficking as tournament travel, ticket demand and online activity heighten fraud risks.

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

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

Marqeta has embedded an AI-driven risk score into its Real-Time Decisioning tool, aiming to curb payment fraud and reduce false declines.

MVSI launches AIQ SiteScanner to help payment firms spot merchants using cloaking, redirects and other tactics to evade Mastercard and Visa rules.

UiPath rolls out agentic AI for banks to automate sanctions checks and loan origination, citing faster decisions and tighter audit controls.

Fintech Worth secures USD $30m Series A to accelerate AI-powered onboarding and underwriting for small and medium-sized businesses.

WorkFusion's AI agent Tara has been named AML Solution of the Year by FinTech Breakthrough for streamlining sanctions screening workloads.

Keitaro ad tracker abused in 15,500 scam and malware domains, as fraudsters cloak AI-themed investment lures from security watchdogs.

Austin Telco Federal Credit Union adopts Alkami's MANTL tech to slash account opening times and automate 85% of onboarding checks.

AI-fuelled scams help push illicit finance to an estimated USD $4.4 trillion in 2025, with fraud losses hitting USD $579.4 billion.