NICE Actimize Blog

Fighting Financial Crime

Five Things Compliance and Fraud Professionals Need to Know about Crime in Crypto

As the blockchain industry matures, cryptocurrencies are becoming a legitimate asset class that’s getting the attention of traditional financial institutions (FIs) that want to become part of this new economy and expand their revenue streams.

Buy or Build? Choose the Strategy that Elevates Risk Management, not Undermines it

Buy vs. build debates have reignited as financial crime becomes more complex. So which approach is best? The biggest drivers to determine if you should buy or build a case management system for your financial institution (FI) actually comes down to three questions

2023 Outlook: Fresh Fraud Trends Emerge to Exploit Your Mid-Sized and SMB Bank

Is your newsfeed oversaturated with fraud stories lately? This year was a frenzy of fraud with bold criminals who aggressively construct a risk landscape reflective of the technology-forward mindset of today.

The Authorized Fraudulent Transaction Dilemma

Zelle, a network designed to compete with Peer-to-Peer (P2P) fintechs such as Venmo, is owned by six of the seven banks represented at Senate Banking Committee hearing on Sept 22, 2022. Two statements warned against going too far with Regulation E expansion: one from Sen. Elizabeth Warren called the network “unsafe”, claiming Zelle users were defrauded out of $500 million last year. The second came from Jamie Dimon, JPMorgan Chase CEO’s who stated that “Anything that’s unauthorized, we do cover. But consumer-authorized transactions made to fraudsters are another matter.” .

PSR (Payment Systems Regulatory) Responds to Increasing APP Fraud with Mandatory Reimbursement Proposal for Fraud Victims

In the U.K. last year, authorised push payments (APP) fraud reached £583 million ($706 million), a 39% increase from 2020.

ACH and Holiday Fraud: Don’t Give Fraudsters an Unexpected Gift

This holiday season, you jolly well better be prepared for more fraud.

Removing the Corporate Banking Camouflage Through Improved KYC and UBO Visibility

Anti-money laundering (AML) can be described as finding a needle in a haystack. But this analogy leaves out the considerable steps criminals go through to camouflage their activities. In corporate banking, finding the criminal among legitimate customers, like a needle in the haystack, is more difficult—because they have more tools to disguise their illegitimate activities.

Does the Corporate Transparency Act Pierce the Corporate Veil? Or is it Pointless?

What comes to mind when you hear “innovation” mentioned? People tend to think of technological innovations involving digitalization, software, hardware, APIs, artificial intelligence, and machine learning. However, innovation existed long before the advent of the software industry.

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