Latest Money Laundering News: Finextra Research

Degiro works with Accuity to reduce risk exposure

Accuity, the leading global provider of financial crime compliance, payments and Know Your Customer (KYC) solutions, announced that it is working with DEGIRO, the fast growing FinTech and largest online broker in the Netherlands, to automate customer account screening using a comprehensive range of sanctions and watchlist data sets.

22 January 2019

Company update/regulation

Encompass partners Bisnode to improve KYC data coverage in the Nordics

encompass corporation, a fast-growing global provider of intelligently automated Know Your Customer (KYC) solutions, today announces a strategic partnership with Bisnode, Europe’s leading provider of data and analytics, to enable it to deliver state-of-the-art information and customer onboarding services to financial institutions in the Nordic region.

16 January 2019

Company update/security

Trulioo extends ID verification suite to the Czech Republic and Slovakia

Trulioo, the leading global identity verification company, announced today that it now verifies customers in the Czech Republic and Slovakia through its electronic identity verification platform, GlobalGateway – helping to mitigate money laundering and fraud in two of the world’s fastest growing markets.

03 January 2019

Company update/regulation

Hong Kong central bank fines JPMorgan Chase for money laundering failures

The Monetary Authority reprimands and fines JPMorgan Chase Bank, National Association, Hong Kong Branch for contraventions of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance.

03 January 2019

Company update/regulation

UBS fined $15 million for AML ovesight failings

FINRA announced today that it has fined UBS Financial Services Inc. (UBSFS) $4.5 million and UBS Securities LLC (UBSS) $500,000 for failing to establish and implement anti-money laundering (AML) programs reasonably designed to monitor certain high-risk transactions in customer accounts.

19 December 2018

Company update/Money Laundering

Ex-Thomson Reuters KYC executive joins Delta Capita

Delta Capita, the international FS consulting and managed services firm, has hired Tracey Allen to lead the client experience team for their KYC business line.

19 December 2018

Company update/Money Laundering

UAE Banks Federation convenes on KYC and blockchain

The CEOs Advisory Council of the UAE Banks Federation (UBF) held its 4th meeting this year today (December 17, 2018), to discuss and review the progress of UBF's future and ongoing initiatives.

17 December 2018

Company update/ai

Pelican launches sanctions 'self-learning' AI tool

Pelican, a global provider of AI-powered payments and financial crime compliance systems for banks and corporates, has launched a breakthrough sanctions self-learning module capable of delivering significant reductions in false positive rates (FPRs).

04 December 2018

Company update/Money Laundering

Fourteen French corporates complete regional CordaKYC trial

Enterprise blockchain software firm, R3, today announced that 14 French corporates have completed a trial of the CordaKYC application built on the Corda blockchain platform and hosted on Microsoft Azure.

03 December 2018

Company update/regulation

Fintech incubator APPx Group inks KYC deal with encompass

encompass corporation (“encompass”), a fast-growing global provider of intelligently automated Know Your Customer (KYC) solutions, is pleased to announce that it has been selected by APPx Group Holdings, Inc. (“APPx”) (CSE:APPX), a Canada-based Fintech incubator and leader in diversified Blockchain 2.0 development, to support and enhance its Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) processes in line with regulatory requirements.

28 November 2018

Company update/ai

Cathay Bank selects QuantaVerse AI financial crime tech

QuantaVerse, the first in the market with artificial intelligence (AI) solutions purpose-built for identifying financial crimes, today announced it has signed an agreement with Cathay General Bancorp, a holding company for Cathay Bank, a California state-charted bank.

27 November 2018

Company update/regulation

Cryptocurrency exchange Binance picks Refinitiv for KYC automation

Refinitiv, formerly the Financial & Risk business division of Thomson Reuters, will provide an automated Know Your Customer (KYC) application to Binance, the world’s largest cryptocurrency exchange by adjusted trade volume.

20 November 2018

Company update/regulation

Acuris Risk Intelligence and FinScan form AML alliance

Acuris Risk Intelligence, an independent provider of data intelligence for Anti-money Laundering (AML), Anti-Corruption and Cyber Security; and FinScan, a global leader in AML compliance solutions, have joined forces to deliver an integrated platform for seamless and efficient watch list screening and customer due diligence.

16 November 2018

Company update/regulation

Encompass adds global biometric identity verification to KYC platform

encompass corporation (“encompass”), a fast-growing global provider of intelligently automated Know Your Customer (KYC) solutions, is pleased to announce that it now offers global biometric identify verification (IDV) and document authentication on its platform.

13 November 2018

Company update/Money Laundering

UOB collaborates with Intel on AML analytics project

United Overseas Bank (UOB) today announced it has collaborated with Intel to successfully test how federated advanced data analytics can enhance cross-border anti-money laundering (AML) efforts.

12 November 2018

Company update/Money Laundering

Fenergo expands into private banking and wealth management

Fenergo, the leading provider of Client Lifecycle Management solutions (CLM) and services for financial institutions, has announced its expansion into Private Banking and Wealth Management, with the creation of a new division lead by Steve D’Souza.

06 November 2018

Company update/regulation

Natixis to deploy Fenergo CLM

Fenergo, the leading provider of Client Lifecycle Management (CLM) software solutions for financial institutions, will deploy its flagship platform, Fenergo CLM, across Natixis’ Corporate and Investment Banking division globally.

31 October 2018

Company update/regulation

Lebanon's FNB to run KYC checks with Fico AML kit

First National Bank (FNB) of Lebanon has migrated to the FICO® TONBELLER® Siron® Anti Financial Crimes Suite to take a more holistic, integrated approach to compliance with AML/CTF (anti-money laundering/counter-terrorism financing), KYC (know your customer) and tax regulations.

25 October 2018

Company update/Money Laundering

OCC fines Capital One $100 million for AML deficiencies

The Office of the Comptroller of the Currency (OCC) recently assessed a $100 million civil money penalty against Capital One, N.A., and Capital One Bank (USA), N.A. for deficiencies in the bank’s Bank Secrecy Act/Anti-Money Laundering program.

24 October 2018

Company update/regulation

Amphora integrates with Symphony via CubeLogic

Amphora, a leading vendor of multi commodity trading and risk management solutions to streamline operations, reduce transaction costs and manage financial and physical transactions and CubeLogic, a leader in business intelligence (BI) enabled risk management, workflow and reporting solutions, announce a certified native integration between Amphora’s Symphony CTRM and the CubeLogic RiskCubed platform.

24 October 2018