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While regulatory penalties can exhaust budgets, the wider and long-lasting impact lies on the reputation, loss of trust, and operational disruptions. As regulatory bodies strengthen enforcement and governance standards expand, businesses can no longer afford to underestimate the impact of compliance failures.
In today’s world, almost everything has shifted to digital platforms, from banking, voting, social interactions, to even investing. At the same time, fraudsters have used this evolution to generate AI content, deepfakes, and bot networks.
Over the past few years, money launderers have found new techniques to defraud individuals and organizations. Money laundering has continued to take numerous forms, especially with the digital evolution. It may be a web of tokens, cross-chain tools, and digital ecosystems to disguise illicit funds, which challenges even the most advanced compliance systems.
In this interview with Fortune India, Deepak Bhawnani, Managing Director of Gurgaon-based tech-enabled risk mitigation firm FIOS, discusses why fines are increasing, where banks fall short, and how technology and third-party intelligence can help cut regulatory risk.
As financial products, digital payments, and cross-border transactions become more complex, the opportunity for criminals to exploit financial institutions grows in parallel. The digitisation of corporate registries, social networks, public databases, sanctions lists, and media archives has created a vast ecosystem of open data.
Money laundering remains a persistent global threat to financial institutions, as criminals continue to evolve and deploy ever-more sophisticated techniques to legitimise the proceeds of crime. According to an estimate from the Ministry of Home Affairs (MHA), Indians suffered losses of ~US$8 billion due to online scams, which are linked to significant money-laundering, during the first five months of 2025.
Fios Compliance, an advanced Open Data Intelligence platform, has launched to help organizations strengthen regulatory compliance and mitigate risks through next-generation integrity checks.
Fios Compliance provides relevant and timely extended open data intelligence (a.k.a. OSINT) through its automated screening process, which enhances independent regulatory and risk mitigation checks.
Fios Compliance has launched a global Open Data Intelligence and Extended KYC Platform to automate and enhance regulatory compliance and risk mitigation checks using vast open data sources for various sectors, especially BFSI.
Fios is the Gaelic word for Knowledge. The platform utilizes secure cloud-based technologies that can access a wide range of domestic and international regulatory compliance databases.