Suspicious activity report

New Abrigo Fraud Detection Platform Helps Financial Institutions Fight Fraud Faster and Smarter With AI, Reduce Mounting Losses

Retrieved on: 
Thursday, February 1, 2024

Abrigo, a leading provider of financial crime prevention and risk management solutions for U.S. financial institutions, today announced the launch of Abrigo Fraud Detection, a new platform that combines AI-powered inspection and check image analysis with a smart, configurable fraud decision engine.

Key Points: 
  • Abrigo, a leading provider of financial crime prevention and risk management solutions for U.S. financial institutions, today announced the launch of Abrigo Fraud Detection, a new platform that combines AI-powered inspection and check image analysis with a smart, configurable fraud decision engine.
  • “Abrigo Fraud Detection offers our 2,400 existing customers, and new customers, enhanced fraud detection accuracy and efficiency.
  • “Abrigo Fraud Detection stands out by offering a highly configurable yet user-friendly interface, allowing financial institutions to tailor fraud detection to their specific needs.”
    Abrigo Fraud Detection has launched today with check fraud detection, and capabilities will expand to detect fraud across additional transaction types, including wire and FedNow , throughout 2024.
  • For more information and to try out Abrigo Fraud Detection, visit our website .

Cable Launches Industry-First Automated Testing Solution Transaction Assurance

Retrieved on: 
Thursday, November 30, 2023

Cable , the all-in-one effectiveness testing platform, today announced the launch of its industry-first solution, Transaction Assurance, pioneering a new wave of financial crime compliance and transaction testing.

Key Points: 
  • Cable , the all-in-one effectiveness testing platform, today announced the launch of its industry-first solution, Transaction Assurance, pioneering a new wave of financial crime compliance and transaction testing.
  • These cases have brought to light gaps in existing protocols, including systemic failures in manual testing,” said Natasha Vernier, Founder and CEO, Cable.
  • The launch of Cable’s Transaction Assurance marks a significant leap in the standard for monitoring, testing, and enhancing the efficacy of front-line financial crime controls.
  • To learn more about Cable or to experience how Transaction Assurance can transform your organization's financial crime compliance program, visit cable.tech or book a demo .

Genpact Integrates riskCanvas with Amazon Bedrock to Transform Financial Crime Management with Advanced Generative AI Capabilities

Retrieved on: 
Thursday, September 28, 2023

Integrating Genpact's proprietary cloud-based financial crime suite, riskCanvas™ , with Amazon Bedrock, has led to accelerated efficiencies and impact for clients such as Apex Fintech Solutions.

Key Points: 
  • Integrating Genpact's proprietary cloud-based financial crime suite, riskCanvas™ , with Amazon Bedrock, has led to accelerated efficiencies and impact for clients such as Apex Fintech Solutions.
  • Building on its existing relationship with AWS, Genpact is now combining its intellectual property and deep industry expertise with AWS's generative AI capabilities.
  • Genpact engaged multiple riskCanvas clients to significantly improve the detection, investigation, and prevention of a wide range of financial crime threats.
  • "Responsible AI is a core consideration in AI implementation and its importance will continue to increase," said Atul Deo, General Manager, Amazon Bedrock at AWS.

NICE Actimize Wins Four 2023 Global Banking & Finance Awards Highlighting Innovation in Anti-Money Laundering Technology

Retrieved on: 
Tuesday, September 26, 2023

NICE Actimize, a NICE (NASDAQ: NICE) business, today announced that Global Banking & Finance Review, a financial media platform with over three million readers worldwide, has awarded the company its “Excellence in Innovation” award as a leading provider of Anti-Money Laundering solutions.

Key Points: 
  • NICE Actimize, a NICE (NASDAQ: NICE) business, today announced that Global Banking & Finance Review, a financial media platform with over three million readers worldwide, has awarded the company its “Excellence in Innovation” award as a leading provider of Anti-Money Laundering solutions.
  • Marking a year of innovation, NICE Actimize launched its breakthrough Suspicious Activity Monitoring (SAM-10) solution.
  • Wanda Rich, Editor, Global Banking & Finance Review, said, “NICE Actimize has demonstrated continued excellence in advancing anti-money laundering solutions, winning this accolade for the second consecutive year.
  • The 2023 Global Banking & Finance Awards® recognitions included the following winning categories for NICE Actimize: Most Innovative Anti-Money Laundering Solution North America 2023; Most Innovative Anti-Money Laundering Solution EMEA 2023; Most Innovative Anti-Money Laundering Solution APAC 2023; and most innovative Anti-Money Laundering Solution LATAM 2023.

InfraWare Announces General Release of 'Readback' Deposition Reporting Service & New Accessible Pricing Tiers

Retrieved on: 
Monday, October 10, 2022

With the general release, Readback is now available to litigators nationwide at three new pricing tiers, subject to rules by jurisdiction.

Key Points: 
  • With the general release, Readback is now available to litigators nationwide at three new pricing tiers, subject to rules by jurisdiction.
  • "With our general release of Readback, we aim to elevate the playing field for all litigators.
  • Active Reporting means the transcript is produced during proceedings at a pace and quality that supports litigator performance.
  • This allowed for advances in Readback's underlying technology that brought costs down even further to make the service even more accessible.

NICE Actimize Wins Three 2022 Global Banking and Finance Awards Highlighting Innovation in Anti-Money Laundering Technology

Retrieved on: 
Tuesday, September 13, 2022

Wanda Rich, Editor, Global Banking and Finance Review, said, Our judges and editorial team congratulate NICE Actimize for its outstanding contributions to innovative anti-money laundering solutions across three major global markets.

Key Points: 
  • Wanda Rich, Editor, Global Banking and Finance Review, said, Our judges and editorial team congratulate NICE Actimize for its outstanding contributions to innovative anti-money laundering solutions across three major global markets.
  • The 2022 Global Banking & Finance Awards recognitions included the following winning categories for NICE Actimize: Most Innovative Anti-Money Laundering Solution North America 2022; Most Innovative Anti-Money Laundering Solution EMEA 2022; and Most Innovative Anti-Money Laundering Solution APAC 2022.
  • Since the inception of the Global Banking & Finance Awards in 2011, The Awards reflect the innovation, achievement, strategy, progressive and inspirational changes taking place within the Global Financial community.
  • The Banking Awards & the Financial Awards are known throughout the global banking and financial community as a symbol of excellence.

SEC Charges Wells Fargo Advisors With Anti-Money Laundering Related Violations

Retrieved on: 
Friday, May 20, 2022

Wells Fargo Advisors, the St. Louis-based broker-dealer, has agreed to pay $7 million to settle the charges.

Key Points: 
  • Wells Fargo Advisors, the St. Louis-based broker-dealer, has agreed to pay $7 million to settle the charges.
  • This is the second Bank Secrecy Act action against Wells Fargo Advisors in the last five years.
  • In November 2017, the SEC issued a settled order against Wells Fargo Advisors for failing to timely file at least 50 SARs.
  • The SECs order finds that Wells Fargo Advisors, which is the trade name used by Wells Fargo Clearing Services, LLC, a registered broker-dealer and investment adviser subsidiary of Wells Fargo & Company, violated Section 17(a) of the Securities Exchange Act and Rule 17a-8.

Anti-Money Laundering Software Market Size to Reach USD 5.77 Billion in 2030 | Increasingly Stringent Government Regulations to Deploy AML Solutions is One of the Key Factors Driving Industry Demand, says Emergen Research

Retrieved on: 
Thursday, February 24, 2022

Increasing need to monitor and report suspicious activity to financial regulatory authorities is one of the major factors expected to drive market revenue growth.

Key Points: 
  • Increasing need to monitor and report suspicious activity to financial regulatory authorities is one of the major factors expected to drive market revenue growth.
  • However, high initial cost associated with deployment of AML solutions is a major factor expected to hamper revenue growth.
  • Increasingly stringent government regulations to deploy AML solutions is a key factor driving revenue growth of the market.
  • Emergen Research has segmented global Anti-Money Laundering (AML) software market on the basis of component, deployment type, application, end-use, and region:

Anti-Money Laundering Software Market Size to Reach USD 5.77 Billion in 2030 | Increasingly Stringent Government Regulations to Deploy AML Solutions is One of the Key Factors Driving Industry Demand, says Emergen Research

Retrieved on: 
Thursday, February 24, 2022

Increasing need to monitor and report suspicious activity to financial regulatory authorities is one of the major factors expected to drive market revenue growth.

Key Points: 
  • Increasing need to monitor and report suspicious activity to financial regulatory authorities is one of the major factors expected to drive market revenue growth.
  • However, high initial cost associated with deployment of AML solutions is a major factor expected to hamper revenue growth.
  • Increasingly stringent government regulations to deploy AML solutions is a key factor driving revenue growth of the market.
  • Emergen Research has segmented global Anti-Money Laundering (AML) software market on the basis of component, deployment type, application, end-use, and region:

Hummingbird Integrates with Chainalysis to Provide Crypto Transaction Monitoring to Customers

Retrieved on: 
Wednesday, January 19, 2022

Hummingbird and Chainalysis users will now enjoy the convenience of real-time, automated alerts on risky transactions within their AML and anti-fraud workflows directly within Hummingbird case management.

Key Points: 
  • Hummingbird and Chainalysis users will now enjoy the convenience of real-time, automated alerts on risky transactions within their AML and anti-fraud workflows directly within Hummingbird case management.
  • Hummingbird uses cutting-edge digital compliance tools and easily helps its customers investigate suspect transactions.
  • Chainalysis KYT (Know Your Transaction) is the real-time cryptocurrency transaction monitoring solution that allows compliance professionals to receive alerts when suspicious transactions are conducted with or on an organization's platform.
  • With this partnership, Hummingbird customers can directly navigate to Chainalysis KYT UI from a crypto address in Hummingbird Case Management and file Suspicious Activity Reports (SARs) electronically with the appropriate local regulatory authorities.