Welcome to our weekly newsletter focused on providing you with the latest news and insights on risk, AML, regulatory technology, and financial crime compliance.
In this week’s edition we have a piece on BloombergGPT, a language model with 50 billion parameters introduced by Bloomberg which has adopted a hybrid approach rather than creating a tiny or general-purpose LLM solely based on domain-specific data.
We also discuss about the connection with hush money payments made to adult film actress Stormy Daniels in 2016 during the campaign of former President Donald Trump who has been charged with 34 felonies for falsifying company documents. Moreover, Hummingbird has introduced modular compliance apps for investigations to streamline regulatory compliance processes.
The next article speaks about the CardX’s launch of ‘Mastercard Click to Pay’ on its platform which gives customers a frictionless checkout experience. In addition, the UK has introduced an Economic Crime Levy to combat money laundering to which Moody’s has warned that criminals may still carry out illegal activities without changing their risk level. Finally, we cover the recent takedown of the Genesis Market as a significant blow to the cybercriminal underground which sends a clear message to the law enforcement agencies that are working together to combat cybercrime and protect individuals and businesses from the harm caused by these activities.