Anti-Financial Crime & Financial Crime Compliance
Regulatory Intelligence Leadership | Insight | Network

AI, EU, Financial Crime, Fraud

NEWS: AI helps France detect €16.7B of fraud funds in 2024

Premium March 19, 2025

Amélie de Montchalin, France's Minister of Public Accounts

Premium

NEWS: UK’s FCA bans ex-Credit Suisse VP Detelina Subeva after US money laundering conviction

INSIGHT: ‘Fincrime Central’ admits using AI to re-write Sarah Beth’s original opinion column; result ‘diluted, degraded’ original content

INSIGHT: The ‘5 lenses’ – best practise in establishing an enterprise wide Anti-Financial Crime Op Model

By PAUL O’DONOGHUE, Senior Correspondent

FRANCE uncovered €16.7 billion in fraud in 2024, double the amount detected five years ago, according to the government’s latest Fraud Review report. Officials recovered €11.4 billion.

Amélie de Montchalin, Minister of Public Accounts, said authorities are improving fraud detection, which has also been helped by the adoption of artificial intelligence (AI). “Fighting fraud is now an essential lever for the recovery of our public finances,” she wrote on LinkedIn.

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!

View subscription optionsIf you have an account, log in
Premium

NEWS: UK’s FCA bans ex-Credit Suisse VP Detelina Subeva after US money laundering conviction

INSIGHT: ‘Fincrime Central’ admits using AI to re-write Sarah Beth’s original opinion column; result ‘diluted, degraded’ original content

INSIGHT: The ‘5 lenses’ – best practise in establishing an enterprise wide Anti-Financial Crime Op Model

Regulatory Watch News

  • OFAC Basics Video Series – Requesting OFAC Guidance

    OFAC

    Today, the Department of the Treasury's Office of Foreign Assets Control (OFAC) is releasing the fourth video in its "OFAC Basics" video series, "Requesting OFAC Guidance." This video provides a tutorial on how to contact the OFAC Compliance Hotline with questions about how to comply with OFAC-administered sanctions programs or where to find helpful guidance on OFAC's website. You can find all of OFAC's video guidance on the OFAC Video Series page.

  • FCA bans former Credit Suisse vice president following US criminal conviction

    Financial Conduct Authority

    Ms. Subeva is the third former Credit Suisse employee banned for lacking integrity, following their US convictions for conspiracy to commit money laundering connected to corrupt loans to the Republic of Mozambique. On 20 May 2019, Ms Subeva pleaded guilty in the US for her role in a conspiracy to commit money laundering, which included accepting and retaining US$200,000 from one of her co-conspirators in unlawful kickbacks in connection with the loans

  • Europol has identified AI powered fraud as a key problem area
    Operation ENDGAME strikes again: the ransomware kill chain broken at its source

    Europol

    Cybercriminals around the world have suffered a major disruption after law enforcement and judicial authorities, coordinated by Europol and Eurojust, dismantled key infrastructure behind the malware used to launch ransomware attacks. From 19 to 22 May, authorities took down some 300 servers worldwide, neutralised 650 domains, and issued international arrest warrants against 20 targets, dealing a direct blow to the ransomware kill chain.

Sign Up To Our Newsletter

Name
Organisation
Email
Newsletters
Areas of Interest

Contact Us

Name *
Email *
Comment or Message *