Financial crime stories

Ripjar names Matt Mills Chief Executive to spearhead global expansion as regulatory pressure fuels demand for smarter crime screening tech.

Revolut passes 1m Australian customers and vows nearly AUD $400m investment, stepping up its challenge to local digital banking rivals.

Sygnia links 150+ domains to a global recovery-scam ring posing as law firms, using WhatsApp and cloned sites to repeatedly target victims.

Commonwealth Bank unveils a responsible AI blueprint, detailing governance, safeguards and fraud controls as scrutiny of automation grows.

Upcover adds deepfake incident cover to cyber policies in Australia via Coalition, targeting rising AI impersonation and fraud risks.

SEON launches global partner programme to embed its AI-powered fraud and AML tools deeper into platforms as online scams surge worldwide.

SME Bank turns to Flagright’s AI-native platform for real-time AML monitoring and watchlist screening as it scales across northern Europe.

SEON wins Frost & Sullivan’s 2025 Global Enabling Technology Leadership Award for AI-driven fraud and AML platform innovation.

LemFi wins AUSTRAC approval to launch remittances in Australia, targeting a USD $38.2 billion outbound market serving migrant communities.

Gr4vy launches Silent Mode to let merchants trial multiple fraud tools in parallel on live payments without affecting real customer outcomes.

Poor-quality customer data has driven more than two-thirds of FCA AML fines since 2020, analysis finds, with penalties topping GBP £430m.

BioCatch posts record ARR above $185 million as it adds 90 banks, blocks $4 billion in fraud and expands its global trust network.

Sumsub launches AI Agent Verification to link automated activity to verified humans, tackling rising AI-driven fraud without blocking bots.

ThetaRay launches Ray AI suite to automate AML investigations, promising audit-ready case files and up to 70% less manual work.

Ransomware gangs shrank in number but hit more victims in late 2025, with leak-site postings soaring despite fewer active groups.

AI crime is shifting from experiments to a stable industry, with jailbreak services, adaptive malware and deepfake fraud becoming routine.

Crypto exchange WazirX is integrating Fireblocks technology to tighten custody, access and transaction controls for its 16m users.

APAC banks face heavy manual compliance workloads as poor data quality and legacy systems stall AI adoption, survey respondents warn.

Australian banks report the region’s worst compliance screening disruption, as ageing systems and manual workloads strain checks and onboarding.

Mphasis Q3 revenue rises on AI-led projects as it secures new deals worth USD $428m, boosting growth despite flat sequential profit.