Latest Money Laundering News: Finextra Research

SmartSearch launches high-risk country report service

A new high-risk country report service has been launched by leading anti-money laundering specialist, SmartSearch in response to the introduction of sanctions against Russia.

29 March 2022

Company update/regulation

Ping Payments selects Sentinels for AML controls

Ping Payments, the Nordics premier payments services provider for modern e-commerce and online transactions, has chosen Sentinels, Europe’s leading intelligent transaction monitoring and client risk management platform, to reinforce its anti-money laundering (AML) controls.

29 March 2022

News/regulation

UK regulators publish slew of papers on cryptoasset regulation

The Financial Conduct Authority (FCA), Bank of England, and Prudential Regulation Authority (PRA) have released a raft of documents warning financial institutions of their responsibilities around cryptoassets and the direction of regulation in the space.

25 March 2022

Company update/regulation

FinCEN fines USAA $140 million for violating Bank Secrecy Act

The Financial Crimes Enforcement Network (FinCEN) today announced that it has assessed a $140 million civil money penalty against USAA Federal Savings Bank (USAA FSB) for willful violations of the Bank Secrecy Act (BSA) and its implementing regulations.

22 March 2022

Company update/identity

Crypto exchange Stex deploys ID verification tech from Ondato

STEX, a cryptocurrency exchange that has consistently been ahead of the curve on security and compliance, is partnering with Ondato, a leading Know Your Customer (KYC) and Anti-Money Laundering (AML) platform.

17 March 2022

News/crime

HSBC Ventures joins investment round in Silent Eight

AI-based financial crime compliance outfit Silent Eight has closed a $40m Series B funding round, which welcomed HSBC Ventures, the firm’s latest customer, as an investor.

16 March 2022

News/crime

Estonian AML pilot shows what’s possible when tackling FinCrime

An AML pilot which saw ten Estonian banks take part in a country-wide initiative to tackle financial crime has been lauded as a success by participating banks, preventing up to €3 million from reaching criminal-controlled accounts.

16 March 2022

Company update/identity

Trulioo expands identity verification services in Emea Region

Trulioo today announced it now offers coverage in Greece and Israel via Trulioo GlobalGateway, the leading global identity verification platform.

15 March 2022

Company update/regulation

Spanish neobank Rebellion Pay strengthens AML compliance with Sentinels

Sentinels, Europe’s leading intelligent transaction monitoring and client risk management platform, has been selected by Rebellion Pay to enhance and streamline the leading Spanish neobank’s anti-money laundering (AML) compliance monitoring and risk profiling functions.

15 March 2022

News/startups

KBC launches AI fintech

Belgian bank KBC has launched its own fintech to sell the AI applications it has developed to third parties.

14 March 2022

News/crypto

FCA orders closure of all UK crypto ATMs

The UK's Financial Authority says that any cryptocurrency ATMs operating in the UK are doing so illegally and that they must be shut down.

11 March 2022

Company update/regulation

Thirdfort closes £15m Series A

Thirdfort, a risk management platform for professional services, has secured £15m in a Series A round.

08 March 2022

News/crypto

FCA raises concerns over Binance tie-up with UK-regulated business

The Financial Conduct Authority has again raised concerns about Binance after the crypto group completed a deal that effectively gives it control of a UK regulated company.

07 March 2022

News/crypto

Crypto remains divisive amid Russia's invasion of Ukraine

While the long-lasting effects of the war in Ukraine on cryptocurrency remain unknown, drastic changes across the crypto industry have been felt since Russia’s invasion began eight days ago.

04 March 2022

Research/Money Laundering

ISO 20022: How banks can avoid becoming a cautionary tale

04 March 2022 604 downloads

News/crypto

JP Morgan invests in blockchain intelligence platform TRM Labs

JP Morgan is the latest financial services giant to invest in blockchain intelligence platform TRM Labs.

01 March 2022

Company update/identity

Digital ID firm OCR Labs raises $30 million

OCR Labs has announced a $30 million Series B round led by New York-based Equable Capital to expand its team in North America and EMEA. OCR Labs is headquartered in London.

23 February 2022

News/crypto

Crypto giants form travel rule compliance platform

Some of the biggest players in crypto - including BlockFi, Coinbase and Robinhood - have joined forces to develop technology that helps them meet a rule designed to counter money laundering.

18 February 2022

Company update/payments

Moorwand launches suite of payments compliance services

Moorwand, a payments solutions provider, offering BIN sponsorship and issuing services, today announced the launch of its suite of payments compliance services.

17 February 2022

News/regulation

FCA concerned about Binance getting access to Faster Payments

The Financial Conduct Authority has expressed concern about a deal to give crytpo exchange Binance access to the the UK's Faster Payment Service, but says it has "limited powers" to object.

16 February 2022