Money Laundering

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/regulation

Value of FCA fines increase nearly fourfold to £577m

An end of year surge in fines has seen the value of FCA fines increase nearly fourfold to £577m this year, up from £156m last year – the highest value of fines in six years, says leading international law firm RPC.

/regulation

FinCEN seeks comments on modernisation of US financial crime controls

Today, FinCEN is issuing a request for information (RFI) seeking comments on ways to streamline, modernize, and update the anti-money laundering and countering the financing of terrorism (AML/CFT) regime of the United States.

/regulation

NatWest fined £264.8 million for anti-money laundering failures

National Westminster Bank Plc (NatWest) was today fined £264,772,619.95 following convictions for three offences of failing to comply with money laundering regulations.

/regulation

Paystrax selects Sentinels for AML compliance

Sentinels, Europe’s leading intelligent transaction monitoring platform, has been selected by European merchant acquirer, PAYSTRAX uab, to enhance the anti-money laundering (AML) processes for its portfolio of European payment services and future-proof the business in line with the increasingly stringent regulatory environment in Lithuania.

/regulation

Identitii joins Nice Actimize X-Sight marketplace

Identitii Limited (ASX:ID8) (‘Identitii’, ‘the Company’) is pleased to announce that it has joined the NICE Actimize X-Sight Marketplace, which matches technology providers with financial institutions searching for innovative financial crime solutions, including anti-money laundering and counter-terrorist financing (AML/CTF).

/crime

Australian wealth manager, ClearView, harnesses Napier technology in fight against financial crime

Napier, provider of leading anti-financial crime compliance solutions, has announced that Australian financial services company, ClearView, has adopted its AI-enhanced technology to support anti-money laundering (AML) activities.

/regulation

Raisin Bank deploys ComplyAdvantage to scale up AML programme

Raisin DS’s servicing bank, Raisin Bank AG, is teaming up with ComplyAdvantage, the leader in AI-driven financial crime risk detection, to scale its anti-money laundering (AML) program.

/regulation

Moody’s acquires PassFort and agrees to acquire kompany

Moody’s Corporation (NYSE:MCO) announced today that it has acquired PassFort Limited and entered into an agreement to acquire 360kompany AG (kompany), two European providers of onboarding and Know Your Customer (KYC) technology solutions.

/crime

Elucidate opens Miami HQ office

Elucidate, the financial crime risk scoring company, has today announced its expansion into the US market with a new office in Miami, as part of the company’s mission to establish itself as the global standard for benchmarking financial crime risk.

/crypto

Digital securities exchange Archax picks Scila for AML and surveillance tech

Archax, the first and only UK Financial Conduct Authority (FCA) regulated digital securities exchange, broker and custodian, has selected Scila Surveillance and Scila AML for monitoring of its markets, provided by the Stockholm-based leading independent surveillance, risk & anti-money laundering technology provider Scila AB.

/regulation

UR Islamic Bank selects Capital Banking Solutions to support regulatory requirements in Iraq

Capital Banking Solutions announced today that UR Islamic Bank for Investment has signed for CapitalCompliance, the integrated Compliance platform that prevents money laundry and tax evasion from Capital Banking Solutions.

/regulation

ComplyAdvantage releases AML guide for digital banks

ComplyAdvantage, a global data technology company transforming financial crime detection, today announced the availability of the firm’s new Anti-Money Laundering (AML) Guide For Digital Banks.

/crypto

Matrix partners Elliptic for AML and risk monitoring

Matrix, a global virtual asset trading platform, has announced a partnership with Elliptic, the leading provider of virtual asset risk management and blockchain analytics solutions, to protect traders on its platform as the industry expands.

/people

Featurespace adds AML expert to US team

Featurespace, the leading provider of Enterprise Crime Prevention software, has added Todd Raque as its leading anti-money laundering (AML) and financial crimes expert in the Americas.

/markets

Scila opens Singapore office

Scila AB, the Stockholm-based leading independent provider of trade surveillance, anti-money laundering and risk management technology has opened a regional office in Singapore covering the Asia-Pacific region.

/regulation

Pelican platform selected by BNY Mellon for sanction screening and financial compliance

Pelican AI (pelican.ai), a global provider of Artificial Intelligence-powered payments and financial crime compliance solutions for banks and corporates, announced today that the Treasury Services business of leading global bank BNY Mellon is implementing its AI-based Pelican Secure Sanctions Self-Learning Optimization (SSLO) solution in the coming months to drive efficiency in their global sanction screening capabilities.

/regulation

Finastra expands payments compliance offering with Fincom.co

Finastra today announced the introduction of new anti-money laundering (AML) compliance capabilities integrated with its Fusion Global PAYplus core payments solution, via Fincom.co and the FusionFabric.cloud open developer platform.

/crime

FCA reports upward spiral of suspicious activity reports from financial firms

The number of Suspicious Activity Reports (SARs) submitted by financial firms to the Financial Conduct Authority (FCA) has been steadily increasing year over year since 2017, according to official data.

/crypto

FATF publishes guidance for regulation of cryptocurrency industry

The virtual asset sector is fast-moving and technologically dynamic, which means continued monitoring and engagement between the public and private sectors is necessary.

/regulation

Ondato raises €3.6M seed extension to support expansion of Compliance-as-a-Service model

Compliance-as-a-Service startup Ondato has closed a €3.6M seed extension round led by OTB Ventures, LitCapital and Startup Wise Guys, bringing the total amount raised by Ondato so far to €5.6M.

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