Carmen Cracknell, Senior Reporter
Commercial banks will try to speed up payments and work on combatting fraud using synthetic data.
Technology does not appear to have helped banks combat financial crime and fraud so far.
Perhaps primarily because it is an arms race against the backdrop of a rapidly evolving technological ecosystem. The winnings go to operations that are nimble, quick to identify existing or emerging flaws and exploit them before they come to the attention of security teams who are all too often almost entirely on the defensive.
Jean Hurley, Commissioning Editor
Terrorist financing using crypto, ransomware and AI fraud will be the “trio of terror” in 2023 to plague even the more mature economies.
Martin Cloake, Managing Editor
State-sponsored financial crime will continue to grow.
Martina Lindberg, Production Manager
We will see new real “innovation” in the area of financial crime, especially anthing touching on or connected to technology – whether existing or new.
Laundering and financing of criminals and criminal activity through crypto has been a “popular” and well-trodden path for years, but I think we will see innovation in this space as well – for example the alleged money laundering being accomplished via Spotify, which is being reported in Sweden.
Thomas Hyrkiel, Head of Content Services
A tightened money supply and better systems and processes will lead to lower levels of financial crime in mature economies, but financial crime will grow exponentially in emerging and maturing economies with more affluent but less wary consumers.
