Latest news with #AMLCompliance
Finextra
08-07-2025
- Business
- Finextra
Next Generation taps Sumsub for fraud protection and KYC compliance
A global leader in verification and anti-fraud Sumsub has been selected by France-based fintech platform Next Generation NGPES to provide advanced fraud protection, identity verification and AML regulation compliance as it launches an innovative payment ecosystem, including an EUR-backed stablecoin. 0 The Next Generation Payment Ecosystem (NGPES) is designed to bridge traditional finance (TradFi) and digital assets within a unified solution. This will encompass everything from digital asset custody and settlements to regulatory compliance, as well as integrating IBAN transactions into a digital wallet for near-instant financial transactions. Sumsub's cutting-edge verification solutions, which combine traditional KYC checks with Liveness detection, transaction monitoring, and other fraud prevention capabilities, will ensure the platform will deliver unparalleled security and compliance. Next Generation's launch of a stablecoin, set to become a core component of the NGPES, makes security and compliance even more important as the crypocurrency industry tries to stay ahead of fast-moving regulations and high fraud rates. Sumsub's data shows that fraud in the crypto industry soared by 48% in 2024. Furthermore, 60% of crypto companies foresee stricter regulations - which are not easy to abide by, as highlighted by the fact that only 29% fully comply with the Travel Rule. 'We're thrilled to be selected by Next Generation as its verification and anti-fraud partner. Payments, particularly when it involves cryptocurrency, is a sector increasingly targeted by fraudsters, who themselves are becoming more numerous and better organised', says Ilya Brovin, CGO at Sumsub. 'Whether by forged documents or AI-generated videos, new tech - particularly AI - is making fraud more sophisticated, and so innovative companies like Next Generation need partners who can keep up with the fraudsters. This must mean full-cycle, AI-augmented fraud detection and verification - as our data shows over three-quarters of fraud happens after initial KYC checks.' "Next Generation has been rapidly building up NGPES. The past six months have marked important milestones in the history of our ecosystem. We have achieved DASP registration in France, secured $5 million in an international seed funding round, and diligently expanded our network of launch partners—including some major industry names," said Frank Cambay, COO of Next Generation NGPES. "We are entering the market with a commitment to leveraging cutting-edge technology across all aspects of our operations. The DASP registration and the trust of our investors come with strict compliance obligations, making KYC/AML and fraud prevention critical. We're thrilled to partner with Sumsub in this key area of development. Their deep expertise in digital assets, proven track record across numerous projects, and global reach make them the ideal partner to help us scale new heights."
Business Upturn
10-06-2025
- Business
- Business Upturn
SEON Launches AI-Powered Anti-Money Laundering Suite, Enhancing its Comprehensive Command Center for Risk Management
AUSTIN, Texas, June 10, 2025 (GLOBE NEWSWIRE) — SEON , a global leader in digital fraud prevention , announced the launch of its expanded Anti-Money Laundering (AML) Compliance suite, a significant step in the company's evolution from fraud prevention to a unified risk solution. This release introduces real-time AI-powered capabilities, including Payment Screening , Transaction Monitoring and integrated fraud and AML Case Management with regulatory reporting filling functionalities. SEON's 2025 Digital Fraud Outlook reveals real-time transaction monitoring is the top investment priority for compliance and fraud teams this year — with 62% of organizations making this shift. To meet this demand, SEON's AML suite delivers granular, real-time monitoring alerts that reduce false positives and improve detection accuracy across both fraud and AML use cases. 'We already use SEON as a key part of how we manage fraud risk at Casumo,' said Sebastian Brant, Director of CEX, Casumo. 'They bring depth in proprietary risk signals we can't get anywhere else, flexible tools that we can adapt to any scenario and a level of customer service responsiveness and expertise we simply haven't seen elsewhere. We see the significant value of having one system that can help teams operate more efficiently and effectively.' SEON serves as the unified solution for teams managing both fraud and AML compliance, helping them detect risks proactively, resolve cases faster and keep records audit-ready — all without navigating between different systems, eliminating manual steps or working off spreadsheets. 'Risk teams don't need more tools — they need one that gives them a full picture,' said Tamas Kadar, Co-Founder and CEO, SEON. 'This launch gives fraud and compliance teams a multi-dimensional command center to manage risk in one place. And because we own our data pipeline and can control data accuracy, this means our models deliver more accurate risk decisions.' Built for the Way Risk and Compliance Work Today Most risk teams are using legacy solutions that were not designed to support real-time decisions, instead relying on batch processing, leading to delayed reviews, siloed data and scattered case files with no audit trail. SEON replaces that with a single solution where fraud and AML data work together — giving teams a holistic view with more context, less noise and quicker paths to action. Developed through customer collaboration, SEON's AML Compliance solution applies the same real-time capabilities, data quality and limitless customization that SEON is known for to compliance use cases, helping teams tailor risk programs to new products, regulatory jurisdictions, internal policies and evolving risks. Key Capabilities Spot bad actors early with digital footprint and fraud signals before users enter KYC or AML checks with digital footprint and fraud signals before users enter KYC or AML checks Expedite reviews with AI-assisted customer screening that helps analysts resolve hits faster with AI-assisted customer screening that helps analysts resolve hits faster Detect risks instantly with real-time transaction monitoring and payment screening with real-time transaction monitoring and payment screening Investigate efficiently and close out cases faster with unified fraud intelligence, AML signals and transaction data in one dashboard and close out cases faster with unified fraud intelligence, AML signals and transaction data in one dashboard Reduce time spent on regulatory reporting with autofill capabilities and AI-powered SAR narratives with autofill capabilities and AI-powered SAR narratives Submit SAR, CTR, and Form 8300 reports to FinCEN in one click, with status tracking and audit history; with expansion in progress to other regulatory bodies in one click, with status tracking and audit history; with expansion in progress to other regulatory bodies Lean on expert support from SEON's Managed Risk Services team, offering guidance and rule management for leaner teams About SEON SEON helps risk teams detect and stop fraud and money laundering while ensuring regulatory compliance. By combining real-time digital footprint analysis , device intelligence and AI-driven rules , SEON empowers thousands of businesses globally to prevent threats before they occur. With integrated fraud prevention and AML capabilities, SEON operates from Austin, London, Budapest and Singapore. Learn more at . Media [email protected] Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Zawya
21-05-2025
- Business
- Zawya
Mozn launches agentic AI for financial crime prevention
The latest additions to Mozn's Fraud Prevention and AML Compliance platform, FOCAL, deliver a specialized Agentic AI along with advanced Financial Crime Analytics capabilities to help institutions stay ahead of evolving fraud and AML compliance threats. UAE, Dubai – Mozn, a regional leader in enterprise AI technologies, has announced the addition of Agentic AI to its flagship FOCAL platform—at Seamless Middle East 2025 in Dubai. FOCAL's new Agentic AI leverages machine learning to streamline investigations, uncover hidden patterns, and deliver clear, explainable insights to accelerate decision-making. Mozn has also announced the addition of a new module, Financial Crime Analytics (FCA) to its FOCAL suite. FCA leverages AI and data science to connect with different sources of data from existing enterprise or financial crime prevention systems, consolidating insights into a single, intelligent view for streamlined financial crime detection and prevention. 'The launch of FOCAL's Agentic AI marks a bold step forward in our mission to outpace financial crime through innovation,' said Malik Alyousef, Co-founder and Chief Operating Officer at Mozn. 'Along with the introduction of FOCAL Financial Crime Analytics, institutions can now unify scattered data from across their financial crime systems into a single, intelligent view - enabling sharper insights, faster investigations, and smarter decisions. Combined, these new additions deliver AI-driven precision and real-time intelligence needed to stay ahead of evolving threats, strengthen compliance, and build lasting trust in the digital economy.' This continuous innovation is also being recognized across the industry. FOCAL's growing strength in AI-powered risk and compliance continues to gain industry-wide recognition. It was recently recognized as a Best-of-Breed solution by Chartis Research in Client Lifecycle Management (CLM) for wealth management, corporate and investment banking, a distinction that reinforces its leadership in financial crime prevention and compliance. In addition, FOCAL was also awarded Best AI Use in Regulatory Compliance by MEA Finance, honoring its real-time screening, AI-driven insights, and financial crime prevention capabilities, which redefine how institutions manage risk and meet regulatory obligations. For more information about Mozn's financial crime prevention solutions, visit Mozn | مزن About Mozn: Mozn is a Saudi technology company committed to advancing digital humanity through the harnessing of artificial intelligence to build enterprise AI-powered products – FOCAL, the end-to-end Fraud Prevention and AML Compliance platform and OSOS, the leading Arabic Gen AI platform – along with tailored AI solutions designed to meet the unique needs of enterprises across various sectors. Mozn maintains a significant presence, with offices in the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE) that house over 300 dedicated professionals. Mozn is at the forefront of technological innovation, striving to redefine the limits of what is possible in the digital age.
Associated Press
08-05-2025
- Business
- Associated Press
AML Watcher Launches Flagship Event Series 'Watcher's Enclave' – Kicks Off in Dubai, Heads Next to Singapore
Singapore, May 8, 2025 -- AML Watcher, a leading AML compliance solution, proudly announces the successful launch of its flagship global event series, Watcher's Enclave, beginning with a powerful debut in Dubai on March 22. With the momentum from this groundbreaking gathering in the United Arab Emirates, AML Watcher is now bringing the conversation to Asia Pacific, with the next Watcher's Enclave scheduled to take place in Singapore on May 22, 2025. The next stops for Watcher's Enclave after MENA and APAC are Europe and North America. Watcher's Enclave is envisioned as a platform to connect and empower AML Compliance professionals worldwide. True to AML Watcher's mission of simplifying AML Compliance and helping organizations scale, the Enclave provides a much-needed space for compliance officers to voice their jurisdiction-specific AML Compliance challenges and network with like-minded people. ' Watcher's Enclave is about listening to real-world AML compliance challenges and building solutions in response that truly solve those challenges. We're creating a global platform for dialogue, innovation, and actionable change—Singapore is the next step in that mission,' said Oonagh Van Den Berg, Director of Advisory & Growth at AML Watcher. With global AML regulations and sanctions regimes becoming increasingly complex and fragmented, compliance teams are under growing pressure to navigate a labyrinth of conflicting rules, often with limited resources. The Watcher's Enclave aims to bridge the widening gap between one-size-fits-all technology solutions and the nuanced, on-the-ground challenges AML professionals face in different parts of the world. This initiative fosters a collaborative and inclusive environment where compliance experts can share insights into how their AML programs evolve in response to macroeconomic shifts, emerging financial crime typologies, region-specific legal reforms, and whether their existing AML Data and transaction screening solutions are sufficient. From discussing the tightening sanctions regimes to evolving regulatory frameworks in crypto and fintech, the Enclave fosters conversations that bring these pressing realities to the forefront. Being a disruptor, AML Watcher is revolutionizing AML and sanction screening by setting the foundations right. This means integrating the screening data in line with the AML regulatory requirements for each jurisdiction and helping businesses comply with the risk appetite set in their specific AML Compliance programs. The result: a more innovative, more context-aware RegTech solution that evolves in lockstep with the regulatory environments it serves. This enables organizations not only to remain compliant but to redirect energy and resources toward innovation and sustainable growth. Rather than retrofitting generic compliance tools to local realities, AML Watcher is committed to building solutions with the people who use them, ground up, adaptive, and fit for purpose. The upcoming Watcher's Enclave in Singapore promises to continue this mission, offering a platform for discussion, innovation, and meaningful progress in the AML space. Contact Info: Name: Oonagh Van Den Berg Email: Send Email Organization: AML Watcher Website: Release ID: 89159519 Should you identify any discrepancies, concerns, or inaccuracies in the content provided in this press release or require assistance with a press release takedown, we strongly urge you to notify us promptly by contacting [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our responsive team is committed to addressing your concerns within 8 hours by taking necessary actions to resolve identified issues diligently or guiding you through the necessary steps for removal. Our dedication lies in providing accurate and reliable information.
