The New Reality of AI-Enabled Financial Crime and How to Combat It

A $35 million transfer was authorised after a phone call with a person who was not real.

There were no hacked accounts, no stolen passwords, and no suspicious login from another country.

It was a voice.

Fraudsters reportedly used AI voice cloning to imitate a company director and convince a UAE bank manager to approve the transfer.

Oh, and did you hear about the case where scammers used an AI-generated voice to impersonate Italy’s defence minister and target business leaders with urgent requests for money?

Luckily, police managed to freeze almost €1 million.

Ladies and gentlemen, welcome to the NEW REALITY.

The system was not broken into.

The TRUST was.

Before the payment was made, the decision was already manipulated.

And to make the job even harder, payments now move in seconds.

If Ethan Hunt saw this assignment, he might finally say: mission impossible.

Your compliance teams and your payment controls have a very, very small window to understand what is real and what is not.

That is why we need to act now.

And that is why Dmitry Babovsky, Chief Technology Officer at FINCI, is heading to Temenos Community Forum 2026 in Copenhagen to join the panel discussion: “FCM & Agentic AI – Turning Innovation into Impact”

Alongside:
George Apostolides — Deputy CCO/AMLCO, Eurobank Ltd
Ariane Ibig — AI Expert & Chapter Lead, Compliance and Risk Screening, UBS
Yannis Perrakis — Head of AI & Innovation, Temenos

Together, they will discuss how financial institutions can use responsible AI to fight AI-enabled financial crime: detecting risk faster, reducing false positives, and supporting compliance teams in preventing financial crime.

Because if criminals are already using AI to manipulate trust, the industry needs to be simply ...

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