28 Jul 2023 | Financial Services | publications

Cracking the Fraud Code - Building an Emerging Tech-Powered Defence

This paper sheds light on the alarming increase in financial losses attributed to the pervasive threat of money laundering and cyber fraud. As guardians of financial integrity, FIs find themselves under mounting pressure from regulatory bodies to fortify their anti-money laundering and cybersecurity frameworks with cutting-edge technological advancements.

The need of the hour calls for a comprehensive and risk-weighted approach that embraces digital transformation to enable real-time threat tracking and mitigation. In this pivotal journey, FIs must prioritize their tech stacks, fostering robustness that stands as a formidable barrier against evolving criminal tactics. Consideration should be given to bolstering their investment, tapping into self-capital reserves or securing funds from astute institutional investors who recognize the potential for exponential growth in a fortified financial landscape.