Cable wants to help banks cut financial crime through automated assurance

People in the U.S. reported $8.8 billion of financial fraud in 2022 to the Federal Trade Commission, and while the FTC received fewer reports, 2.4 million versus 2.9 million in 2021, the overall monetary figure is 30% higher than 2021. Bank transfer or payment fraud amounted to $1.6 billion in 2022.
When you expand this globally, Cable’s co-founder Natasha Vernier told TechCrunch that financial crime becomes a $4 trillion problem. And one Vernier, co-founder Katie Savitz and the Cable team have been working on it since 2021.
Vernier explained that banks and fintechs need to first have controls

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