Money Laundering

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ClearBank selects Featurespace for real-time fraud detection

Featurespace, the world’s leading provider of Adaptive Behavioural Analytics for fraud detection and risk management, announced that ClearBank, the U.K.'s first new clearing bank in more than 250 years, has selected its ARIC™ platform to provide clients using its clearing and banking services with an innovative approach to fraud and AML detection.

/regulation

Hummingbird raises $3m for AML platform

Hummingbird, the modern platform for anti-money laundering (AML), announced that it has raised $3 million in a funding round led by Homebrew, with investments from Omidyar Network, TTV Capital, and Designer Fund. Hummingbird brings agility, intelligence, and breadth to the AML practice for banks, payments companies, and other financial institutions.

/regulation

Financial Action Task Force sets out recommendations on virtual asset regulation

Virtual assets and related financial services have the potential to spur financial innovation and efficiency and improve financial inclusion, but they also create new opportunities for criminals and terrorists to launder their proceeds or finance their illicit activities.

/regulation

CGI upgrades HotScan anti-financial crime package

CGI (TSX: GIB.A) (NYSE: GIB) is pleased to announce the launch of CGI HotScan360—an enhanced version of its industry-leading HotScan solution.

/ai

Socure and Alloy help Radius Bank slash online fraud

Socure and Alloy today officially announced a partnership that enables financial institutions to make real-time digital identity verification decisions with unprecedented speed and accuracy for onboarding new customers.

/regulation

Binance tackles cryptocurrency money laundering with Chainalysis

Chainalysis, the leading provider of cryptocurrency compliance and investigation solutions, has completed a global roll-out of its compliance solution with Binance, the world’s largest cryptocurrency exchange by trade volume, to help address the challenges at the intersection of cryptocurrencies, regulators and traditional financial institutions.

/regulation

BAE Systems improves AML screening algorithm

BAE Systems today launches Match Exclusion, a new algorithm engine within its flagship NetReveal Transaction Filtering solution, a major update to the capabilities of its Anti-Money Laundering (AML) and Watch List Management (WLM) solutions.

/Money Laundering

IdentityMind ports digital ID platform to Oracle Cloud

IdentityMind Global™, Digital Identities You Can Trust, today announced that it has selected Oracle Cloud Infrastructure to host its award-winning Version 2.0, SaaS-based, trusted digital identities platform for compliance, risk management and fraud prevention.

/Money Laundering

LexisNexis joins forces with iMeta to reduce financial crime risks

LexisNexis Risk Solutions, a part of RELX Group (LSE:REL/NYSE: RELX), today announced an alliance with iMeta Technologies, a leader in Client Lifecycle Management (CLM) technology for financial organisations, to integrate iMeta’s CLM technology with LexisNexis Risk Solutions’ data capabilities.

/Money Laundering

EverCompliant releases KYC gap discovery tool

EverCompliant, the payments industry leader in online Anti-Money Laundering specializing in business cyber intelligence, announced today the launch of eKYC Discovery, a tool that addresses potential gaps in the Bank Secrecy Act and Anti-Money Laundering-mandated Know Your Customer (KYC) processes that could leave financial institutions exposed to criminal activity.

/payments

Onfido scores ID verification contract with Remitly

Identity verification specialist Onfido today announces that it has partnered with leading global remittance platform, Remitly.

/Money Laundering

Banks turn to tech innovation as global regulation continues to increase KYC complexity

The annual Accuity Financial Counterparty KYC Survey has revealed that 75 percent of senior compliance and correspondent banking professionals have encountered added complexity in interpreting and adhering to local legislation.

/Money Laundering

Bank of Ayudhya picks Nice Actimize for AML compliance

Nice Actimize, a Nice business and the leader in Autonomous Financial Crime Management, has been chosen by Bank of Ayudhya/Krungsri, Thailand’s fifth largest financial institution, to transform its anti-money laundering compliance and case management platform.

/Money Laundering

Bank of China US branches switch on Fenergo client lifecycle platform

Fenergo, the leading provider of Client Lifecycle Management solutions for financial institutions, announced today that the BoC US Branches, subsidiaries of the 4th largest bank in the world, have gone live on its Client Lifecycle Management platform,

/Money Laundering

Volopa picks Onfido for KYC onboarding

Leading identity verification provider Onfido and payments and foreign exchange fintech Volopa today announce that they have partnered to deliver secure and scalable KYC capabilities.

/Money Laundering

PIMFA and FCI launch intelligence sharing platform to tackle financial crime

In response to the evolving threat and cost of financial crime PIMFA, the UK’s leading wealth management and financial advice association and Financial Crime Intelligence Ltd have launched the ground breaking PIMFA-AECIS intelligence sharing platform.

/Money Laundering

Archax partners with Custom House for KYC & AML checks

Archax, the upcoming institutional-grade crypto exchange, today announced that it has partnered with Custom House Global Fund Services to perform Know Your Customer (KYC) and Anti Money Laundering (AML) checks on firms and professional investors wishing to join and trade on the Archax exchange.

/Money Laundering

Financial crime prevention veterans join Arachnys advisory board

Arachnys, the leader in Customer Risk Intelligence solutions for Know Your Customer (KYC), Anti Money Laundering (AML) and Due Diligence (DD), is pleased to announce that four industry luminaries become an active part of company’s growth strategy.

/Money Laundering

Trulioo extends into the Philippines

Trulioo, the leading global identity verification company, today announced that it now offers instant identity verification of consumers in the Philippines through its GlobalGateway platform.

/Money Laundering

W2 Global Data raises £1.25m

A fast-growing South Wales fintech company has closed a £1.25million funding round backed by Mercia Fund Managers, Development Bank of Wales and TTI Angels.

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