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Financial services companies, in particular banks, are racing to harness the potential of artificial intelligence. Lenders are employing algorithms that analyze consumer data to conduct credit scoring and determine appropriate loan amounts, and AI tools examining customer transaction habits are improving fraud alerts and reducing money-laundering risk.
The New Zealand Court of Appeal has upheld the decision that German-Finnish internet mogul and Megaupload founder Kim Dotcom can be extradited to the United States for prosecution on criminal copyright infringement and related charges.
In a sign of the robustness of the regtech software market, ThetaRay, a provider of artificial intelligence software for detecting financial crime, has completed a fundraising round of more than $30 million — its largest to date.
First Latvia, now Estonia. Reports that Danske Bank, Denmark’s largest lender, may have laundered up to $8.3bn through its Estonian subsidiary — following Latvia’s banking scandals this year — have highlighted anew the Baltic republics’ reputation as conduits for dirty money. They point, too, to a more fundamental issue.
As indignation grows over what may be the biggest financial crime saga in modern Danish history, politicians are looking for ways to ensure the country’s largest bank isn’t let off the hook.
Criminals are stealing more cryptocurrency from exchanges, and that’s driving growth in a cottage industry of services that allows for money laundering of coins, according to a new report.
A hyped luxury North Texas residential community — marketed as a five-star resort built to withstand a nuclear war — is now at the center of an FBI money laundering investigation. According to a federal criminal complaint obtained by CBS 11 News, Trident Lakes owner and manager John Eckerd faces two counts of money laundering and one count of conspiracy to commit money laundering.
A daily roundup of corruption news from across the Web, including bribery, cybercrime, fraud, money laundering, sanctions, whitselblowing, and general anti-corruption
The rhetoric of the Singapore summit notwithstanding, the globe has witnessed in the dangerous escalatory rhetoric and nuclear saber rattling between North Korea and the United States a new awareness that fear and misperception increase the likelihood of accidental nuclear war. The U.S.
Danske Bank A/S offered until 2015 banking services at its Estonia branch to residents of other countries. Those operations have now embroiled the Copenhagen-based lender in the Nordic region’s biggest money laundering scandal.