NICE Actimize Blog:
Fighting Financial Crime

Your Guide to Advanced Fraud Prevention with AI

Artificial intelligence (AI) and machine learning (ML) technologies derive patterns from large quantities and diverse sources of data to generate relevant insights that influence decision-making, business operations and processes, and the customer experience. Finance is one of the most data-rich industries, which is ideal for the strategic application of AI and ML in areas like fraud prevention.

Cryptocurrency: Top Frequently Asked Questions for Financial Crime Prevention Professionals

In a recent webinar series with NICE Actimize and CipherTrace, Digital Currencies: Understanding Expectations and Managing Your Risk, the team had a great discussion around managing crypto risk for financial services organizations. We’re happy to share the top FAQs from the session to help you better understand cryptocurrency and how it affects your organization.

Machine Learning Expert Features: How AI Can Help in the Fight Against Money Laundering

Money laundering is a consistent problem plaguing society. It funds the worst elements of humanity, facilitating terrorist and criminal activities around the globe.

Fight FinCrime with AI: It’s Time to Do More with Less

The financial industry is always evolving and innovating alongside technology advancements to improve efficiency, as well as enhance the overall experience for both financial institutions (FIs) and their customers.

The FedNow Service: A Quick Guide For Financial Services Organizations

In 2023, the Federal Reserve will be launching a new service called FedNow. Originally intended to replace the Automated Clearing House (ACH) Network, FedNow is revolutionary in its scope, but it’s not just another new electronic payments initiative (FRB Services, n.d.). It represents a paradigm shift in the way funders will do business with all types of financial institutions – a shift that will happen even as more and more industries converge around shared technology under the yet-to-be-finalized SWIFT Global Payments Innovation Initiative.

The Future of Information Sharing Across the Financial Crime Landscape – Is Your Organization Ready?

It’s no secret that the way the financial industry is sharing information today is outdated. Our organizations’ AML and fraud systems are siloed and burdensome. When we do find some suspicious activity, we have limited access to data from the rest of our organization, let alone other organizations, to contextualize any red flags and confirm our suspicions.

How SIM Swapping Fraudsters Threaten Digital Identity

Did you know that a fraudster can port your mobile number and gain access to your bank account in minutes? It’s true – and it happens every day. SIM swap fraud is an imminent threat to the security of financial data. Phone number data intelligence can help strengthen and validate the user verification process, reduce fake accounts, inform risk models, improve conversions and accuracy of collected information and even determine the optimal channel for message delivery.

Prevent Account Take Over & Uncover Known Mule Accounts with Dark Web Intelligence

Fraudsters and cybercriminals are maturing their approaches, fortified by a threat environment that encompasses increasingly accessible intelligent technology and compute power, data breaches and easily available personally identifiable information (PII) that can be cheaply procured through online sources like the dark web.

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