Fraud and AML detection you can sustain over time.

Cove Labs builds expert-trained AI models and agents for fraud, anti–money laundering (AML), and disputes — and independently benchmarks the AI that financial institutions are betting on. The result: smarter detection, built-in threat intelligence, fewer false positives, and investigations your team can defend.

Contact Us to Benchmark your Controls

Giving FinCrime agents their secret intelligence

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The Problem

Most detection can only catch what it has already seen.

Financial crime is a trillion-dollar problem — and getting harder. Adversaries are now using AI: synthetic identities at scale, deepfakes, automated account-takeover and business-email-compromise toolchains.

Lean risk teams are stuck reacting and dealing with a list of issues: too many false positives, models and rules that go stale as fast as criminals adapt, slow and expensive retraining, and general-purpose AI never built for financial crime. Too often the only choice is to tighten controls and hurt good customers.

$500B

Annual Global Fraud Losses

$1–2T

Annual Money Laundered Globally

1 in 3

Wrong Risk Ratings from our Frontier Benchmarking

Sources: Interpol 2026, TransUnion 2025, UNODC, FinCrimeBench.ai

Cove Labs helps you get out of reactive mode — with detection you can sustain, and an easy way to see exactly where you stand today.

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FinCrimeBench™: the First Independent Benchmark of AI Performance in Fraud & AML

As financial services companies pivot toward a zero-trust posture, the downstream layer of Fraud and AML detection has become the ultimate control surface. LLMs will play a critical role, but how reliable are they at holding this line without specialized training? Cove Labs' benchmarking tests frontier and open AI models against hundreds of expert-generated fraud scenarios with thousands of individual LLM evaluations. The results are essential reading for anyone in financial services piloting AI for fraud or compliance.

43%

Best Performance on Consumer Payments Fraud

69%

Best Performance on Business Payments Fraud

7%

Overall Performance on Scams & First Party Fraud

Our FinCrimeBench™ research maps structural weaknesses in today's leading AI models — and provides the backbone for our evaluation service that clears a path for organizations moving from experimental pilots to defensive-grade reliability. You can check the latest leaderboards and request the research or an executive briefing by clicking the button below, or learn more at https://fincrimebench.ai


Note: If you have already requested our research, we will email you new FinCrimeBench updates

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Three ways to engage.

Purpose-built for financial institutions and the teams putting AI into the control layer. Most clients will start with a low-risk evaluation and grow from there.

Low-risk starting point

Pressure-test your current models, rules, and agents — whether in-house or vendor-built.

Send us a dataset with your inputs and outputs, or we'll send you a scoring set to evaluate and return. We measure detection, false positives, approval rates, reasoning fidelity, risk-classification consistency, and failure-mode patterns. You get company-specific, defensible, pre-deployment evidence — not vendor claims.

Turnaround: a few days.

The right data, kept current

Production-grade, representative fraud & AML data with zero PII exposure, purpose-built to fine-tune models and agents.

Covers a broad library of fraud & AML typologies, incorporates your company-specific risk tolerance and signals, and includes ongoing threat-intelligence updates for emerging, AI-driven threats — with locked acceptance criteria, authoritative source citations, and structured parameter tags that keep it valid at scale.

Turnkey models & agents

Trained on your environment and ready for deployment — detection, risk classification, investigation, and resolution.

Delivered as a complete agentic architecture (model, evaluation pipeline, and integration support). Independent risk scores, reduced false positives, enriched records, and investigator-ready write-ups — explainable, auditable, and aligned to your policies and regulatory expectations.

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Agentic Commerce

Securing the Era of Agentic Commerce

Our training data and advisory services cover not only emerging threats but also emerging opportunities such as agentic commerce

The rise of autonomous AI agents is shifting commerce from human clicks to agentic decisions. When agents shop, trade, and transact on behalf of humans, traditional Identity Verification (IDV) and Know Your Customer (KYC) frameworks break down. We are working with leaders in the industry to design and build the defense layers needed to authenticate autonomous agents, verify user intent, and neutralize malicious AI activity.

The Challenge: Many Questions Remain Unanswered

Enrollment and Setup

What identity verification and fraud screenings will be performed before an agent is set up and enrolled?

Authorization

What authorization controls need to be in place for agentic commerce?

What fraud controls and models need to be established across the agentic commerce ecosystem?

Disputes, Abuse & Returns

What controls need to be established to prevent disputes and returns?

Which party owns the liability across the agentic commerce ecosystem?

The Solution: Redefining Verification and Detection for AI Agents

Agent Biometrics & IDV

  • Beyond Human Interaction: Cryptographic and behavioral protocols to verify the identity and authorize the autonomous agent itself.
  • Intent Verification & Deception Detection: Real-time analysis to ensure the agent is accurately executing the human user's original intent.

Behavioral & Vulnerability Defense

  • Prompt Injection Shielding: Hardening systems against prompt injection attacks that target an agent's core logic.
  • Error & Hallucination Mitigation: Catching mistakes before they become irreversible transactions.
  • Dynamic Payment Protocols: Building new, secure payment architectures natively designed for autonomous, programmatic wallets.

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OUR APPROACH

Built for the control layer: transformer intelligence, deterministic decisions.

Getting AI into a regulated control layer isn't about using the biggest model — it's about the right architecture.

We pair the strengths of transformer (LLM) technology with deterministic machine-learning (ML) models. You get the upside of modern AI without an unexplainable black box making your risk decisions. It's an approach built for the realities of fraud, AML, and disputes in regulated environments: repeatable, explainable, defensible, and cost-efficient.

Benchmarking drives our model choices.

We don't guess which model to trust. Our FinCrimeBench™ research shows which LLMs perform on which financial-crime tasks — and where they fail — so model selection and training focus are grounded in evidence, not vendor claims or hype.

Transformers for what they do best.

LLMs let us ingest and make sense of messy inputs — including unstructured data like documents, narratives, and case notes — and turn detection into rich, investigator-ready explanations and write-ups that speed review and resolution.

Deterministic models at the core.

The risk decision itself runs on deterministic ML, so outcomes are consistent and repeatable — the same inputs produce the same decision, every time, with a traceable rationale your model-risk, audit, and compliance teams (and examiners) can stand behind.

This separation of concerns — transformers for language and context, deterministic models for the decision — is what lets risk organizations adopt AI with confidence.

Under the hood: how we train

Combined with domain-specific guardrails, this keeps models observable, explainable, auditable, and aligned with your environment and regulatory expectations.

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Our Expertise

Deep Financial Crimes Domain Knowledge

Our team brings an average of 15+ years of hands-on experience in financial crimes — spanning fraud, AML, disputes, sanctions, and regulatory compliance — with experience across 30+ institutions and fintechs, from top-tier global banks to regional institutions and community banks.

Banks & Credit Unions

Strategy and analytics for enterprise-scale fraud and AML programs at top-tier global banks and regional institutions

FinTechs & RegTechs

Fraud and compliance program design and enhanced detection for high-growth platforms

Wealth & Insurance

Risk and compliance frameworks and implementation for wealth management, insurance, and investment firms

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Get Involved

Let's start with a conversation.

A short call to understand your fraud, AML, and disputes challenges — and to explore where our intelligence solutions, agents, and independent benchmarking might help. The easiest first step is a low-risk evaluation to show you exactly where you stand. We'd love the chance to prove we can make a difference, with minimal lift from your team.

Partnership Inquiries

Open to collaborations with financial institutions, data providers, and AI research teams

Stay Updated

Check back soon — we will continue to publish updates on our LLM research and benchmarking results

Hiring

Building a team of passionate Financial Crime experts and practitioners

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Leadership

Built by Industry Veterans

Our founding team includes former executives from some of the most recognized names in financial services and fraud technology — bringing operational credibility and deep institutional knowledge to every engagement.

Ed Aluise

Co-Founder, Former Bank of America Executive

Payments leadership roles across the Consumer & Small Business and Commercial & Corporate businesses; US and global responsibilities

LinkedIn →

Ram Krishnamurthy

Co-Founder, Former Data Science Lead at FICO

Credit card and payments modeling and machine learning at scale for fraud detection, account opening, and account takeover

LinkedIn →

Brian Hughes

Advisor, Former Executive at Discover & HSBC

Senior business and risk executive with experience owning Fraud & AML, including global risk strategy and sanctions compliance

LinkedIn →

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About Cove Labs

Cove Labs bridges the gap between frontier AI and rigorous financial crime defense and compliance. Built by practitioners with deep operational expertise in financial services, fraud, AML, and disputes, we eliminate the cold-start problem and compliance risks that prevent institutions from deploying AI with confidence. We deliver three integrated capabilities: objective, empirical agentic AI performance evaluation that gives institutions defensible evidence before deployment; production-ready representative training data with built-in threat intelligence that removes PII exposure and data scarcity barriers; and specialized, turnkey agentic AI architectures purpose-built for Fraud and AML operations — so financial institutions can move from pilot to production without building from scratch.

© 2026 CoveLabs.ai LLC · CoveLabs.ai · LinkedIn

FinCrimeBench™ is a proprietary benchmark developed and owned by CoveLabs.ai LLC. The benchmark name, methodology, taxonomy, prompts, expert answer keys, scoring framework, evaluation results, and all associated content, deliverables, and derivative works are the exclusive intellectual property of CoveLabs.ai LLC. The contents of this site and the available whitepaper documents, including all analysis, findings, figures, and text, are protected by copyright. No part of this work may be reproduced, distributed, or used to train, fine-tune, or evaluate machine learning models without the prior written consent of CoveLabs.ai LLC, except for personal, non-commercial reference and for the limited fair-use purposes recognized under applicable law.

Legal

Privacy Policy

Effective Date: July 2026

Last updated: July 2026

1. Overview

This Privacy Policy explains how CoveLabs.ai LLC and its affiliates, including FinCrimeBench (“CoveLabs,” “FinCrimeBench,” “we,” “us,” or “our”), collect, use, disclose, and protect personal information when you visit or interact with our websites, including fincrimebench.ai, submit forms, request research, register for events, or otherwise communicate with us.

By using our website or submitting information to us, you acknowledge that we may collect, use, and disclose your information as described in this Privacy Policy.

2. Information We Collect

We may collect personal information that you voluntarily provide to us, including when you:

  • Request FinCrimeBench research or other materials;
  • Submit a contact form or inquiry;
  • Register for an event, webinar, demo, briefing, or other activity;
  • Subscribe to updates or otherwise request communications from us;
  • Communicate with us by email or through other channels.

The types of information we may collect include:

  • Name;
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  • Company or organization;
  • Job title or role;
  • Industry or professional area of interest;
  • Country, region, or location information you choose to provide;
  • Any message, inquiry, or other information you submit to us.

We may also automatically collect certain technical and usage information when you visit our website, such as IP address, browser type, device information, pages visited, referring pages, and interactions with our website. We may collect this information through cookies, analytics tools, server logs, or similar technologies.

3. How We Use Your Information

We may use personal information for the following purposes:

  • To respond to your inquiries;
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  • To send follow-up communications related to FinCrimeBench;
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  • To protect the security and integrity of our website, systems, and organization;
  • To comply with legal obligations and enforce our rights.

If you request FinCrimeBench research, register for an event, download materials, submit a form, or otherwise provide your contact information to us, we may use your contact information to send you related FinCrimeBench communications. These may include new research, updates to prior research, benchmark updates, event invitations, webinars, product or service updates, and other information that we believe may be relevant to your professional interests.

You may opt out of receiving marketing, research update, or event-related communications at any time by using the unsubscribe instructions included in our emails or by contacting us at admin@covelabs.ai. Even if you opt out of these communications, we may still send you non-marketing communications, such as responses to direct inquiries or administrative messages related to your interactions with us.

FinCrimeBench is designed to provide research, benchmarks, insights, and related information concerning financial crime, compliance, risk management, and related topics. If you provide your contact information to request or access FinCrimeBench materials, we may send you additional FinCrimeBench-related communications from time to time.

These communications may include:

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We aim to be transparent about why you are receiving these communications. Our emails may explain that you are receiving the message because you previously requested FinCrimeBench research, registered for an event, submitted a form, or otherwise expressed interest in FinCrimeBench.

You may opt out of these communications at any time.

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We may use cookies, pixels, analytics tools, and similar technologies to collect information about how visitors use our website. This may include information about pages viewed, links clicked, time spent on the website, referring websites, browser type, device type, and general location information.

We may use this information to:

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You may be able to control cookies through your browser settings. If you disable cookies, some parts of our website may not function properly.

5. How we share this information

We do not sell personal information.

We may share personal information with the following categories of recipients:

Service Providers

We may share information with service providers that perform services on our behalf, such as website hosting, analytics, customer relationship management, email delivery, event management, communications support, cloud storage, security, and other business operations.

These service providers are authorized to use personal information only as necessary to provide services to us or as otherwise permitted by law.

Affiliates and Business Partners

We may share information within CoveLabs and with affiliates or business partners where reasonably necessary to provide research, services, events, communications, or other FinCrimeBench-related activities.

Legal, Compliance, and Protection Purposes

We may disclose information if we believe disclosure is necessary or appropriate to:

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Business Transactions

If we are involved in a merger, acquisition, financing, reorganization, sale of assets, or similar business transaction, personal information may be disclosed or transferred as part of that transaction, subject to appropriate protections where required by law.

6. Legal Bases for Processing

Where applicable data protection laws require us to identify a legal basis for processing personal information, we rely on one or more of the following legal bases:

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When we rely on legitimate interests, we consider the nature of the information, the context in which it was collected, your relationship with us, your reasonable expectations, and your rights and interests.

7. Third-Party Form Processor (Tally.so)

Our contact form is powered by Tally.so, a third-party form service. When you submit a contact request, your data (name, work email, company, role, and message) is processed and stored by Tally in accordance with their Privacy Policy (tally.so/privacy). We use Tally solely to receive and manage contact form submissions. Tally does not use your data for advertising or sell it to third parties. We have configured Tally to accept work email addresses only. Personal email domains (Gmail, Yahoo, Hotmail, and similar) are not accepted. You may request deletion of your form submission data by contacting us at admin@covelabs.ai.

8. Email Preferences and Opting Out

You may opt out of receiving marketing, event, research update, or other promotional communications from us at any time by following the unsubscribe instructions included in our emails or by contacting us at admin@covelabs.ai

If you opt out, we may retain limited information, such as your email address, to maintain a suppression list and ensure that we honor your communication preferences.

Please note that opting out of promotional or research update communications does not prevent us from sending non-promotional communications, such as responses to your direct inquiries, transactional messages, legal notices, security notices, or administrative communications.

9. Data Retention

We retain personal information for as long as reasonably necessary to fulfill the purposes described in this Privacy Policy, including to provide requested materials, send FinCrimeBench-related communications unless you opt out, manage our relationship with you, maintain business records, comply with legal obligations, resolve disputes, protect our rights, and enforce our agreements.

The length of time we retain information depends on the type of information, the purpose for which it was collected, legal and business requirements, and whether you have requested that we delete or stop using the information.

10. Data Security

We use reasonable administrative, technical, and organizational measures designed to protect personal information from unauthorized access, disclosure, alteration, or destruction.

However, no method of transmission over the internet or method of electronic storage is completely secure. We cannot guarantee absolute security.

11. International Users

If you access our website or provide information from outside the United States, your information may be transferred to, stored in, or processed in the United States or other jurisdictions where we or our service providers operate.

These jurisdictions may have data protection laws that differ from those in your location. Where required by applicable law, we take steps designed to provide appropriate protections for cross-border transfers of personal information.

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Depending on your location and applicable law, you may have certain rights regarding your personal information. These rights may include the right to:

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To exercise privacy rights, please contact us at admin@covelabs.ai. We may need to verify your identity before fulfilling certain requests.

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Our website, research, and services are intended for business and professional audiences. They are not directed to children under the age of 13, and we do not knowingly collect personal information from children under 13.

If we learn that we have collected personal information from a child under 13, we will take appropriate steps to delete that information.

14. Changes to This Policy

We may update this Privacy Policy from time to time. Any changes will be reflected with an updated date at the top of this page. Continued use of the site constitutes acceptance of the updated policy.

15. Contact

For any privacy-related questions or requests, please contact us at: admin@covelabs.ai

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