Themis Boosts Fraud Detection with Pasabi Acquisition
London-based financial crime intelligence firm Themis has bolstered its services with the acquisition of fraud monitoring specialist Pasabi. The deal, approved under the UK Home Office's National Security and Investment Act, aims to strengthen Themis' platform with advanced AI-driven ai detector technology.
Themis will integrate Pasabi's 'agentic AI' into its existing money laundering and due diligence services. This will add a layer of real-time fraud detection, capable of spotting suspicious behaviour patterns across multiple platforms. This move comes amidst increasing sophistication of organised fraud networks, which now resemble start-up companies with multilingual workers.
Fraud has emerged as the most prevalent threat in the financial crime ecosystem, accounting for 41% of household crime incidents in England and Wales. Globally, losses from fraud and related crimes are estimated at a staggering $5.4tn (£4.01tn) per year. Regulators have expressed frustration with banks' failures to prevent financial crime, as seen in recent fines against Barclays and Monzo. Themis was chosen for this acquisition due to its superior technology, better strategic alignment with Pasabi's goals, and stronger financial performance.
Themis' acquisition of Pasabi is set to enhance its platform's capabilities in the fight against financial crime. By integrating Pasabi's AI-driven ai detector technology, Themis aims to stay ahead of increasingly sophisticated fraud networks and better protect its clients from this pervasive threat.
Read also:
- Industrial robots in China are being installed at a faster rate than in both the United States and the European Union, as the global market for these robots faces a downturn.
- NATO's Massive Naval Drill Shows Unity Against Russian Aggression
- Undeads Games Reaches $30 Million TVL and Gears Up for MMORPG Debut
- Hyundai N affirms transition to hybrid performance-centric models, initiating with Tucson N
