Money Laundering

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/regulation

Crif invests in Know Your Customer

Leading banking credit information provider CRIF today announced a global commercial partnership with award-winning RegTech company Know Your Customer underpinned by a strategic financial investment into the firm.

/crime

Total value of AML enforcement is skyhigh, reaching $2.2bn in 2020

Kroll, the world’s premier provider of services and digital products related to valuation, governance, risk and transparency, has today published new data showing that the COVID-19 pandemic has not stunted global enforcement action for anti-money laundering (AML) failings.

/crime

Smartsearch launches document verification system to combat money laundering

Leading UK anti-money laundering specialist SmartSearch has launched a new weapon in the ongoing fight against dirty cash being cleaned around the world through activity such as buying property.

/regulation

FinClusive launches as a validation agent in Global Legal Entity Identifier System

Ubisecure, the leading Legal Entity Identifier (LEI) issuer known for its RapidLEI service, and FinClusive, a hybrid financial-/regulatory-technology company that enables digital access to accounts and payments with embedded full-stack financial crimes compliance, have announced a partnership to streamline registration of LEIs within FinClusive’s Compliance-as-a-Service (CaaS) solution for Know Your Customer (KYC) / Know Your Business (KYB) client onboarding, monitoring, and management.

/regulation

Crypto firm BCB Group implements AML compliance technology with Napier

RegTech company and provider of advanced anti-financial crime compliance solutions, Napier, has announced that its sophisticated AI-enhanced technology has been chosen by BCB Group, a crypto-dedicated provider of payments, business accounts and trading services for the digital asset economy.

/regulation

FCA receives 2,754 separate allegations of financial misconduct from whistleblowers

The Financial Conduct Authority (FCA) has received a total of 2,754 separate allegations of misconduct, including fraud, money laundering and compliance complaints, according to official figures.

/crime

Bottomline debuts real-time watchlist screening

Bottomline (NASDAQ: EPAY), a leading provider of financial technology that makes complex business payments simple, smart and secure, today announced the availability of Bottomline Watchlist Screening (WLS) delivered by lightweight API implementation through Bottomline’s SaaS technology.

/crime

RegTech Onepip installs Napier AML tech

RegTech company, Napier, provider of advanced anti-financial crime compliance solutions, has announced that cross-border payment specialist ONEPIP will be using its technology as part of ONEPIP’s upgraded anti-money laundering (AML) controls.

/regulation

EBA consults on new guidelines on the role of AML/CFT compliance officers

The European Banking Authority (EBA) launched today a public consultation on new Guidelines on the role, tasks and responsibilities of anti-money laundering and countering the financing of terrorism (AML/CFT) compliance officers.

/identity

ID verification startup Qoobiss launches KYC package

Digital identity verification startup Qoobiss launches a fully automated Know-Your-Customer (KYC) solution, empowering companies to verify their customers’ identity digitally, while maintaining complete data privacy.

/crypto

Paysafe chooses Elliptic to support crypto payments compliance

Elliptic, a global leader in cryptoasset risk management, has been selected by Paysafe, a leading specialized payments platform, for its Elliptic Lens solution.

/people

Encompass appoints Cyndi festa as head of data souring

Encompass Corporation, the fast-growing provider of intelligently automated Know Your Customer (KYC) solutions, today announces the appointment of data management veteran Cyndi Festa to the new role of Head of Data Sourcing.

/regulation

IHS Markit allies with Complidata for trade finance venture

IHS Markit (NYSE: INFO), a world leader in critical information, analytics and solutions, and Complidata, a data driven AML innovation company, have announced a partnership to offer customers in the trade finance space a series of risk and compliance datasets that will enhance financial crime due diligence frameworks and assist in the digitisation of the overall trade compliance workflow.

/crypto

Silvergate Bank enlists Elliptic to automate KYC for crypto business

Elliptic today announced that Silvergate Bank, the leading provider of financial infrastructure solutions and services for the growing digital currency industry, has integrated Elliptic’s cryptoasset risk management and blockchain analytics, into its platform to serve more virtual asset services providers (VASPs) and other crypto businesses.

/regulation

Transactive upgrades internal AML transaction monitoring platform with Sentinels

Transactive is one of the leading fintechs adopting the open banking initiative. It provides businesses access to digital banking services via its B2B2C payments platform.

/regulation

ComplyAdvantage adds Know Your Business data

ComplyAdvantage, a global leader in AI-driven financial crime risk data and detection technology, today announced that the company has added Know Your Business (KYB) data to create the industry’s first unified and most comprehensive data graph of individuals and business entities.

/crime

Global spend on financial crime compliance at financial institutions reaches $213.9 billion

LexisNexis Risk Solutions today released its annual True Cost of Financial Crime Compliance Global Report.

/regulation

Kompli-Global stages KYC 'Bake-Off' challenge

With fraudsters becoming increasingly smarter and more collaborative in trying to get round those systems with the weakest links to commit their fraudulent crimes, now more than ever is the time for payments and wider financial services businesses to ensure they have all the right ingredients to stop fraud.

/regulation

Austrac identifies AML compliance shortcomings at NAB

National Australia Bank Limited (NAB) has been informed by AUSTRAC it has identified serious concerns with NAB’s compliance with the Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) Act 2006 and the Anti-Money Laundering and Counter-Terrorism Financing Rules 2007.

/Money Laundering

ITCS Trade to use iDenfy verficiation

iDenfy announced their business partnership with Kazakhastan’s leading Fin-Tech company ITCS Trade Ltd. iDenfy will be providing ID verification solutions for new customers signing up for the ITCS Trade trading platform.

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