Money Laundering

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/regulation

Swedbank responds to AML sanction action

Swedbank has today received the SFSA's decision to initiate a sanction process in the ongoing AML investigation.

/payments

Sokin launches remittance service

Sokin the global cross-border payments firm is set to launch its transparent, secure and fast service remittance service which will allow millions of people to make unlimited low cost monthly international payments.

/regulation

Neotas gets grant for screening system

Neotas – a leading provider of online due diligence for the financial services sector - is joining forces with artificial intelligence (AI) experts at the University of Essex to develop a next-generation screening system.

/regulation

US regulators issue statement on digital asset AML obligations

The leaders of the U.S. Commodity Futures Trading Commission, the Financial Crimes Enforcement Network, and the U.S. Securities and Exchange Commission (the “Agencies”) today issued the following joint statement to remind persons engaged in activities involving digital assets of their anti-money laundering and countering the financing of terrorism (AML/CFT)obligations under the Bank Secrecy Act (BSA).[1]

/regulation

SmartSearch receives growth equity investment from Marlin Equity Partners

Award-winning company SmartSearch Ltd, one of the UK’s leading providers of RegTech software focused on Anti-Money Laundering (“AML”) solutions, today announced that it has received a growth equity investment from Marlin Equity Partners (“Marlin”).

/Money Laundering

Worldline celebrates sustainability ranking boost

Worldline, [Euronext: WLN] European leader in the payments and transactional services industry, announces that it has gained one place in the Sustainalytics ranking and became the 4th out of the 229 companies assessed in the Software and Services industry.

/regulation

EU supervisors highlight money laundering and terrorist financing risks in the financial sector

The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today their second joint Opinion on the risks of money laundering (ML) and terrorist financing (TF) affecting the European Union's (EU) financial sector.

/regulation

Edelweiss Asset Management to deploy Signzy e-KYC package

Edelweiss Asset Management Company, one of the fastest growing AMCs, today announced that it has partnered with India’s leading RegTech startup (which manages regulatory processes in the BFSI sector through technology) Signzy for digital customer onboarding and a faster verification process on its investment platform.

/regulation

Visma to offer Fico Siron anti-financial crime software

Visma Connect, the leading Dutch critical payments services provider and FICO have launched a partnership to jointly deliver FICO’s best-in-class Anti-Financial Crime solutions for Know Your Customer (KYC), anti-money laundering (AML) and real-time sanctions screening to banks, FinTechs, payment institutions, PSD2 third-party providers and corporations.

/regulation

HSBC introduces financial crime detection systems

HSBC Global Trade and Receivables Finance (GTRF) business has deployed an industry-leading Anti-Money Laundering (AML) system and an automated sanctions checking system as part of its ongoing efforts to improve financial crime detection.

/security

AxiomSL achieves security compliance with SOC 2 Attestation

AxiomSL, the leading provider of regulatory reporting and risk management solutions, today announced completion of The Service Organization Control (SOC) 2 Type II audit of RegCloud that confirmed the effectiveness of the firm’s internal controls for compliance and data protection.

/ai

Symphony AyasdiAI applies machine learning to AML compliance

Symphony AyasdiAI today announced the launch of Ayasdi AML, an advanced anti-money laundering (AML) solution that significantly boosts efforts to combat fraudulent money laundering schemes.

/regulation

Compliance Hub product for SMEs launched by Shield

Specialist RegTech provider Shield is proud to announce the launch of Shield for small to medium sized (SME) investment firms, a dedicated new version of its cloud-based, cross-regulation and comprehensive eComms compliance platform that specifically caters for the needs of small and medium-sized financial services firms, which has been developed in response to industry demand.

/payments

FICO and Visma Connect partner for anti financial crime delivery

Visma Connect, the leading Dutch critical payments services provider and FICO have launched a partnership to jointly deliver FICO’s best-in-class Anti-Financial Crime solutions for Know Your Customer (KYC), anti-money laundering (AML) and real-time sanctions screening to banks, FinTechs, payment institutions, PSD2 third-party providers and corporations.

/ai

Feedzai upgrades Case Manager with AI technology

Feedzai has announced the availability of AI-powered Case Manager - a major upgrade that revolutionizes the way analysts and investigators review cases and alerts. By bringing the power of AI into Case Manager, Feedzai boosts the efficiency of financial crime prevention, while simultaneously improving the accuracy of detection.

/ai

Temenos releases AI financial crime detection tool

Temenos (SIX: TEMN), the banking software company, today announced the release of the Temenos Peer Group Identifier, an AI-powered financial profiling tool to assist banks in improving their customer experiences by focusing their financial crime detection efforts on the highest risk transactions.

/regulation

Accuity fights compliance false positives with improved screening module

Accuity, the leading provider of financial crime compliance, payments and Know Your Customer (KYC) solutions, announced new enhancements to its account screening and alert management platform, Firco Screening Insight – for accounts, including new data offerings, improved list management capabilities, and integration with third-party case management solutions.

/ai

AI fraud detection tool launched by Finastra and NetGuardians

Today at Sibos 2019, Finastra has announced its partnership with Swiss Fintech, NetGuardians, which sees the two companies launching an AI-powered fraud detection solution for financial messaging.

/regulation

Increase in sanctions revealed by Accuity Data

Accuity, the leading global provider of financial crime screening, payments and know your customer (KYC) solutions, has revealed new research into the current sanctions landscape that demonstrates a significant increase in complexity for organisations involved in global trade.

/ai

Fineksus and Neterium partner for AI-driven AML

For years, banks and regulated entities have been using solutions designed in the last decade, with low efficiency having a devastating effect on compliance costs, and only a marginal real impact on illegal activity.

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