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Dominique's long read archive

2024 (11) 2023 (11)
Dominique Dierks

Dominique Dierks

Content Manager at Finextra
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Long reads

5 common types of data breaches in the financial sector

12 Apr 2024

Global cybercrime is thriving. The 2023 UK Cyber Security Breaches Survey found that over the last 12 months, 32% of businesses have experienced a data breach, with that number climbing to a stunning 69% for large businesses. The financial sector is a popular target for cybercriminals, and ranks second in the global cyber incident damage statisti...

AML Basics: How to prevent money laundering

05 Apr 2024

In today’s globalised economy, money laundering is increasingly concerning for financial institutions worldwide. 2022 alone, the worst-recorded year for AML events, recorded over 16,000 AML events. In the UK, the government estimates that money laundering costs every single household £255 a year. The problem is exacerbated by the fact that crimin...

What’s AML? Understanding anti-money laundering and counter-terrorism financing

22 Mar 2024

In banking, AML (anti-money laundering) describes legally recognised rules and activities that financial institutions perform in order to combat money laundering. AML is closely attached to CFT (counter-financing of terrorism), and AML regulations tend to combine money laundering (source) with terrorism financing (destination). What are the main t...

How is generative AI democratising the availability of banking services?

19 Mar 2024

Generative AI’s potential is vast, and there are opportunities for this technology to improve customer experience, enhance decision-making, increase colleague productivity and streamline processes. However, there is a need for oversight and ethical considerations – as there is with all types of AI – such as addressing inherent bias in data and ens...