New AI tool set to bust fraudsters and tackle money laundering

62 per cent of businesses are prioritising their protection against savvy scammers | Shutterstock

A new AI tool has been introduced to help prevent savvy fraudsters and dodgy transactions.

Dropped by global fraud-fighting firm SEON, the new AI-powered Anti-Money Laundering (AML) suite enables businesses to sniff out dirty money and dodgy transactions in real time.

It comes as 62 per cent of businesses are prioritising their protection against savvy scammers.

The tool gives fraud and compliance teams the firepower to call out shady payments, monitor transactions live and file official reports with just one click - all from an easy-to-use dashboard.

This is achieved through Payment Screening, Transaction Monitoring and integrated fraud and AML Case Management with regulatory reporting filing functionalities.

Sebastian Brant, Director of CEX, Casumo, said: "We already use SEON as a key part of how we manage fraud risk at Casumo.

“They bring depth in proprietary risk signals we can’t get anywhere else, flexible tools that we can adapt to any scenario and a level of customer service responsiveness and expertise we simply haven’t seen elsewhere.

“We see the significant value of having one system that can help teams operate more efficiently and effectively."

Gone are the days of jumping between outdated systems and spreadsheet nightmares.

SEON’s all-in-one tool gives companies a 360° view of fraud and AML risks, where data works together to give teams a holistic view with more context, less noise and quicker paths to action.

“Risk teams don’t need more tools - they need one that gives them a full picture,” said Tamas Kadar, Co-Founder and CEO, SEON.

“This launch gives fraud and compliance teams a multi-dimensional command centre to manage risk in one place.

“And because we own our data pipeline and can control data accuracy, this means our models deliver more accurate risk decisions.”

SEON’s all-in-one tool gives companies a 360° view of fraud and AML risks | Shutterstock

AML Suite’s Capabilities

Spot bad actors early with digital footprint and fraud signals before users enter KYC or AML checks
Expedite reviews with AI-assisted customer screening that helps analysts resolve hits faster
Detect risks instantly with real-time transaction monitoring and payment screening
Investigate efficiently and close out cases faster with unified fraud intelligence, AML signals and transaction data in one dashboard
Reduce time spent on regulatory reporting with autofill capabilities and AI-powered SAR narratives
Submit SAR, CTR, and Form 8300 reports to FinCEN in one click, with status tracking and audit history, with expansion in progress to other regulatory bodies
Lean on expert support from SEON’s Managed Risk Services team, offering guidance and rule management for leaner teams

SEON helps risk teams detect and stop fraud and money laundering while ensuring regulatory compliance.

By combining real-time digital footprint analysis, device intelligence and AI-driven rules, SEON empowers thousands of businesses globally to prevent threats before they occur.

With integrated fraud prevention and AML capabilities, SEON operates from Austin, London, Budapest and Singapore. Learn more at seon.io.

This article is produced by SWNS based on content distributed by GlobeNewswire.