Latest Reporting/compliance News: Finextra Research

Company update/identity

Drip Capital joins forces with digital ID provider Onfido

Drip Capital, Inc., a leading cross-border digital trade finance platform, announced a partnership with Onfido, a global digital identity verification and authentication provider, to streamline the onboarding process for new customers.

28 September 2022

News/regulation

Morgan Stanley, Goldman Sachs, among banks fined $1.1 billion by SEC

16 of Wall Street’s largest financial institutions been charged to pay a combined $1.1 billion to US regulators for not monitoring unauthorised employee messaging, announced the Securities and Exchange Commission (SEC) on Tuesday.

28 September 2022

News/regulation

UK government launches fraud and money laundering crackdown

The UK government has announced plans to rolled out reforms to protect the economy from fraud and money laundering.

23 September 2022

News/regulation

Indonesian anti-trust agency investigates unfair Google app payments

Indonesian watchdog KPPU is investigating Google for breaching anti-monopoly laws and carrying out unlawful business practices on the Google Play Store.

16 September 2022

Company update/crypto

MAS grants Capital Markets Services licence to SBI Digital Markets

SBI Digital Markets Pte. Ltd. (SBI DM), a subsidiary of Tokyo-based SBI Digital Asset Holdings (DAH), has just been awarded the Monetary Authority of Singapore’s (MAS) Capital Markets Services (CMS) Licence. SBI DM received In-Principle Approval for its CMS licence from the MAS back in early May 2022.

16 September 2022

News/sustainable

UK banks suffering due to lacklustre sustainable trade finance – Pole Star

90% of UK banks and 56% of Swiss banks have lost business in the trade finance industry due to lack of decarbonisation financing terms, according to research from Pole Star. The maritime, governmental, and financial technology solutions company is calling for environmentally-driven regulation for banks falling behind on sustainability and carbon emission reductions.

16 September 2022

Research/Reporting/compliance

The Future of ESGTech 2023

12 September 2022 800 downloads

News/regulation

SteelEye raises $21m Series B

In what has been dubbed the largest RegTech raise by a European firm in 2022, SteelEye has raised $21 million in a Series B round led by Ten Coves Capital.

08 September 2022

Company update/retail

Adatree puts together consumer data right representatives consortium

Off the back of celebrating its third anniversary, leading data intermediary and recipient platform Adatree has announced a milestone achievement in signing a consortium of 11 banks and credit unions as Consumer Data Right (CDR) Representatives, including BankVic, a member-owned bank for police, health and emergency services, and Queensland-based AusWide Bank.

08 September 2022

News/security

Starling responds to UK Govt's report on suspected BBLS fraud

UK Government has confirmed that of the £47 billion provided in loans through the Bounce Back Loan (BBL) scheme, £1.1 billion of these loans are suspected to be fraudulent.

07 September 2022

Company update/regulation

Fraugster and Yuno partner for LATAM expansion

Next gen payment orchestration platform, Yuno, partners with AI payment intelligence expert, Fraugster to provide online merchants easy access to a range of fraud prevention, compliance and revenue uplift solutions via a single API. Companies of all sizes across Latin America continuously face challenges in managing multiple payment methods and fraud detection tools for accepting online payments leading to fragmentation, complexity, and high costs.

07 September 2022

Company update/security

Kyckr and LAB Group announce partnership

Australia’s most connected account opening platform provider, LAB Group (“LAB” or “the Company”), is pleased to announce that it has signed a strategic integration partnership with global database verification company Kyckr Ltd (ASX: KYK).

07 September 2022

News/regulation

Revolut under pressure over internal audit

Online bank Revolut is facing more questions over its internal controls after it was criticised by a UK regulator for the unacceptably high risk of "material misstatement" in its account auditing.

06 September 2022

Company update/crime

Ripjar launches risk screening profile

Ripjar, the trusted provider for tackling financial crime, today announces the launch of its updated Labyrinth Screening Platform with the addition of AI Risk Profiles.

06 September 2022

Company update/crime

Report forecasts increase in online fraud during recession

Fraud fighters, SEON, has released a new report which examines the potential impact that global economic uncertainty may have on fraud.

06 September 2022

News/regulation

Varo Bank’s proposal to reform the CRA champions financial inclusion

The Community Reinvestment Act (CRA) was created in order to ensure that the credit needs of lower income communities in the US were accommodated by local financial institutions. However, many financial firms are proposing a reform of this act to be more inclusive of low and moderate income communities.

05 September 2022

News/crypto

Abu Dhabi establishes crypto committee

Abu Dhabi has announced the formation of a government body to develop its strategy for regulating and promoting the world of virtual assets.

26 August 2022

News/crypto

Crypto-crime revenue drops by 65% - report

Revenue derived from cryptocurrency-related crime is down by 65% in the first half of 2022 compared to the corresponding period in 2021.

22 August 2022

News/regulation

FCA fines Citi £12.5m for trading oversight failings

The UK's Financial Conduct Authority (FCA) has levied a £12.5m fine against Citigroup Global Markets over past failures to police its trading activity

22 August 2022

News/regulation

Banks to pay $1bn over traders' use of WhatsApp

A handful of Wall Street banks are preparing to pay up to $200m each to settle a case with the Securities and Exchanges Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over the use of WhatsApp messages.

22 August 2022