The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Santander uses ThetaRay’s artificial intuition to bolster its AML defences

As card fraud, identity theft and cybercrime surge, international banks need cutting edge technology to protect the weak spots in their correspondent networks.

cyber-security-world-map-lock-780.jpg

The Covid-19 pandemic has been a boon for bank robbers.

As the many inexperienced consumers that previously relied on cash have begun to use their debit and credit cards online more frequently, exposing themselves to phishing attacks, credit card fraud has surged by 35% in the US according to Fidelity National Information Services.

And that may just be the tip of the iceberg. To report a theft, you have to know that you’ve been robbed.

Cyber criminals are increasingly sophisticated and particularly good at setting up their servers in remote countries, stealing small amounts from millions of bank accounts then shutting down again before anything amiss is noticed.

At a higher level, however, the travel restrictions imposed during lockdowns that still persist in the early stages of reopening have been a setback for money launderers.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of acces below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£68.33 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree