News & Analysis as of May 19, 2025

Artificial Intelligence

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Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain.

AI versus MFA

Jackson Lewis P.C. on 1/9/2025

Ask any chief information security officer (CISO), cyber underwriter or risk manager, or cybersecurity attorney about what controls are critical for protecting an organization’s information systems, you’ll likely find...more

Identity Theft and How To Prevent It

Ankura on 12/19/2024

Imagine sitting in your living room, enjoying a cup of your favorite morning coffee, and you open your mail to discover that you recently opened a new bank account at XYZ Bank, unbeknownst to you. Or maybe you receive an...more

Navigating the Labyrinth: Artificial Intelligence in the Battle Against Trade-Based Money Laundering

Womble Bond Dickinson on 2/7/2024

In the rapidly evolving financial landscape, governments worldwide are intensifying their focus on compliance in Know Your Customer (KYC) and Anti-Money Laundering (AML) efforts for financial institutions. Trade-Based Money...more

The Evolution of KYC: Exploring Perpetual Know Your Customer (PKYC)

Ankura on 11/30/2023

Know Your Customer (KYC) is a fundamental process used by Financial Institutions (FIs) to verify the identities of their customers and assess the associated financial crime risk. Its primary goal is to prevent money...more

Factors to Be Considered by Financial Organizations for an Effective Transactional Monitoring System

Ankura on 9/27/2022

The rising incidence of financial crime continues to haunt financial institutions globally. As per a recent industry report, more SARs (suspicious activity reports) were filed by ~80% of the firms in 2021. COVID-19 pandemic...more

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