European biometric leadership meets middle eastern compliance expertise to revolutionize digital financial security across five continents Facephi Eastnets Eastnets and Facephi forge strategic alliance to create comprehensive global fraud defense ecosystem DUBAI, United Arab Emirates and ALICANTE, Spain, Sept. 30, 2025 (GLOBE NEWSWIRE) -- Eastnets, a global leader in compliance and payments security, and Facephi, the Spanish-based leader in biometric digital identity verification, today announced a landm ...

Turkish lawmakers are reportedly planning to consider legislation that would grant the country's financial crimes watchdog sweeping new authority to freeze bank and crypto accounts suspected of illegal activity. The draft bill would empower Masak, Turkey's financial intelligence unit, to take direct action against accounts suspected of criminal use across financial institutions and cryptocurrency platforms, according to a Bloomberg report citing people familiar with the matter. Under the proposed framewo ...

Core Insights - Nasdaq Verafin and BioCatch have formed a strategic partnership to enhance fraud detection capabilities in the financial services industry, addressing the growing challenge of payments fraud globally [1][4][6] - The partnership aims to integrate BioCatch's behavioral intelligence with Nasdaq Verafin's fraud detection platform, allowing financial institutions to take pre-emptive actions against fraudulent transactions [3][5] Industry Context - Financial crime, particularly payments fraud, is a multitrillion-dollar issue, with payments fraud and scams contributing to an estimated $486 billion in global fraud losses in 2023 [2] - The rise of faster and real-time payments has increased the risk of fraud, while traditional fraud detection methods are leading to a surge in false positive alerts, complicating investigations for banks [2][6] Partnership Details - The initial phase of the partnership will focus on integrating BioCatch alerts into the Nasdaq Verafin platform, enabling real-time decision-making and risk evaluation [3][5] - The collaboration will also involve additional product integrations, co-developed fraud solutions, and joint research initiatives [3][4] Technological Capabilities - BioCatch's platform analyzes up to 3,000 unique behavioral and device-related data points to differentiate between legitimate users and fraudsters [5][9] - Nasdaq Verafin's consortium data network is utilized by over 2,600 financial institutions, representing more than $10 trillion in collective assets, providing insights into fraud risk beyond individual institutions [4][8] Future Initiatives - The companies plan to host a series of webinars to provide further information about the partnership, with the first webinar scheduled for October 23, 2025 [7]