News & Analysis as of

Fraud Machine Learning Financial Institutions

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
MoFo Tech

AI Trends for 2025 - AI and Financial Services: Balancing Innovation with Regulatory Compliance

MoFo Tech on

As the adoption of artificial intelligence (AI) continues to expand, the financial services industry is leveraging this technology in many ways. AI’s application in credit decision making has become increasingly prominent,...more

Harris Beach Murtha PLLC

AI Regulation in the Financial System: Insight from the Federal Reserve

Harris Beach Murtha PLLC on

Federal Reserve Governor Michelle W. Bowman recently delivered insightful remarks at the 27th Annual Symposium on Building the Financial System of the 21st Century, emphasizing the transformative potential of artificial...more

Davis Wright Tremaine LLP

FinCEN Warns of Criminal Use of Deepfake Technology to Circumvent Controls

Generative artificial intelligence (AI) holds tremendous promise for financial institutions and their customers. But that promise comes with potential peril, as highlighted in a recent alert issued by the U.S. Treasury...more

Mitchell, Williams, Selig, Gates & Woodyard,...

FinCEN Warns Financial Institutions of Fraud Schemes Arising from Deepfake Media Using Generative Artificial Intelligence

Today the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an Alert to help financial institutions identify fraud schemes relying in part on the use of deepfake media created through...more

Robinson+Cole Data Privacy + Security Insider

OCC Semiannual Risk Perspective Identifies AI as “Emerging Risk”

The Office of the Controller of the Currency (OCC) issues a semiannual risk perspective report that “addresses key issues facing banks, focusing on those that pose threats to the safety and soundness of banks and their...more

American Conference Institute (ACI)

[Event] Fraud, Asset Tracing & Recovery - October 26th - 27th, Paris, France

Hosted by C5 Group, the inaugural Fraud, Asset Tracing & Recovery – Paris event will launch in Europe this fall and will feature networking formats and practitioners from across the EU and key offshore jurisdictions....more

American Conference Institute (ACI)

[Event] 22nd Annual Canadian Forum on Anti-Money Laundering and Financial Crime - June 7th - 8th, Toronto, Ontario, Canada

AML compliance for reporting entities has never been of greater critical importance than it is today. With the growing sophistication of criminals and the methods and technologies that they employed, combined with the...more

Ankura

Factors to Be Considered by Financial Organizations for an Effective Transactional Monitoring System

Ankura on

The rising incidence of financial crime continues to haunt financial institutions globally. As per a recent industry report, more SARs (suspicious activity reports) were filed by ~80% of the firms in 2021. COVID-19 pandemic...more

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