Fraud prevention start-up Seon says it’s seen more demand for tools that root out transactions from individuals on sanctions lists.
Tamas Kadar, Seon's CEO and co-founder, said his company has seen heightened demand for tools that root out transactions from"politically exposed persons" and individuals on sanctions lists amid Russia's invasion of Ukraine.
Intensifying geopolitical tensions over the Ukraine war mean"there has arguably never been a more challenging time for international financial institutions," according to Charles Delingpole, CEO of anti-money laundering platform ComplyAdvantage and an early investor in Seon. "We're going to be scaling up our U.S. team massively," Bence Jendruszak, Seon's chief operating officer, told CNBC."Online fraud is a major issue in the U.S."