Latest Money Laundering News: Finextra Research

Swiss watchdog tweaks digital onboarding rules

Swiss financial markets regulator Finma has updated its rules for digital client onboarding to reflect advances in technology such as the ability to authenticate a user with a "selfie with liveness detection".

16 February 2018

Company update/Money Laundering

IHS Markit adds financial crime screening to due diligence suite

IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, today announced that KY3P®, its vendor risk management service, added financial crimes screening to its comprehensive due diligence tools

13 February 2018

Company update/Money Laundering

Shyft introduces blockchain-based KYC/AML network

Shyft, the leader in KYC/AML infrastructure for the global economy, today announced an open and unified blockchain framework for the standardization of regulatory, compliance, and due diligence mandates for Know Your Customer (KYC) and Anti-Money Laundering (AML).

09 February 2018

Company update/Money Laundering

Radius Bank launches digital account opening platform

Radius Bank proudly announces the launch of its new digital account opening platform, built in partnership with NYC-based fintech company Mantl.

08 February 2018

Company update/Money Laundering

Monetary Authority of Singapore introduces new guidance for remote customer onboarding

The Monetary Authority of Singapore (MAS) has issued new guidance to financial institutions (FIs) on the use of innovative technology solutions to facilitate safe, non-face-to-face customer on-boarding.

07 February 2018

Company update/Money Laundering

Arro Money partners Onfido for real-time KYC checks

Arro Money, a fast-growing provider of personal and business accounts, has partnered with the global identity verification provider, Onfido, to offer real-time ID verification and “Know Your Customer” (KYC) checks.

07 February 2018

News/Money Laundering

UAE banks and regulators to explore blockchain-based KYC utility

Regulatory authorities in Abu Dhabi are kicking off a programme with a consortium of the region's banks to develop a shared KYC utility, possibly underpinned by distributed ledger technology.

07 February 2018

News/Money Laundering

Cambridge Blockchain and IHS Markit join forces to bring DLT to KYC data collection

Cambridge Blockchain and IHS Markit have teamed up to bring distributed digital identity technology to the collection and management of know-your-customer information.

31 January 2018

News/Money Laundering

Signicat snags EUR1.6 million in EU funding to create digital ID framework

Norway's Signicat has secured €1.36 million in phase two funding from the EU's Horizon 2020 programme with the objective of creating a fully-compliant ID assurance and digital onboarding toolbox for use by European financial institutions.

25 January 2018

Company update/Money Laundering

Accuity hands out promotions to Norris and Bharath

Accuity, the global financial crime compliance, payments and KYC solutions provider, announced the appointment of Sean Norris as Head of Sales, EMEA & APAC. Bharath Vellore has been appointed as the company’s Managing Director for Asia-Pacific (APAC).

24 January 2018

Company update/Money Laundering

Trulioo releases KYC tool for mobile operators

Trulioo, the leading global identity verification provider, today launched the first Know Your Customer (KYC) solution to connect to 24 of the world’s largest Mobile Network Operators (MNOs).

23 January 2018

News/Money Laundering

China regulator says fintech must serve real economy

One of China's senior financial regulators has stated that the government will only support fintechs that serve the real economy, casting further doubt on the future of virtual currencies and related technologies within China.

16 January 2018

Company update/Money Laundering

LuLu Exchange tackles AML with Fiserv tech stack

Fiserv today announced that LuLu Exchange, which provides cross-border remittance, currency exchange and other financial services for consumers and businesses, has selected Fiserv to enhance its financial crime prevention capabilities and enable its expansion into new markets.

02 January 2018

Company update/Money Laundering

Commonwealth Bank files response to Austrac claims

Commonwealth Bank (CBA) today filed our response to the civil proceedings commenced by AUSTRAC on 3 August 2017.

13 December 2017

Company update/Money Laundering

FATF issues guidance on bank information sharing

Money laundering, terrorist financing and other forms of financial crime do not stop at national borders but can have links to several countries and financial institutions.

12 December 2017

Company update/Money Laundering

Waves sets up self-regulatory body to set ICO standards

Waves Platform is creating a self-regulatory body that will provide reporting, legal, tax & accounting, KYC and business due diligence standards for ICOs and blockchain industry.

11 December 2017

News/Money Laundering

Australian Government amends AML rules to cover digital currencies

The Australian Senate has passed legislation extending anti-money laundering and counter-terrorism financing regulation to digital currency exchanges.

08 December 2017

News/Money Laundering

Big data and software robots crunch compliance costs for Credit Suisse

Credit Suisse says that a new big data platform and the intelligent deployment of software robots is reversing years of rising compliance costs.

01 December 2017

Company update/Money Laundering

Quantexa hires ex-Deutsche Bank & RBC AML global head Karim Rajwani

Quantexa, the big data start-up, has hired Karim Rajwani, as Global AML Advisor. He has has joined from Deutsche Bank where he was Money Laundering Reporting Officer and Global Head of Financial Intelligence.

27 November 2017

Company update/Money Laundering

CBA introduces daily card limits for ATM deposits

Since the second half of 2015, Commonwealth Bank has made significant progress on a program of action strengthening policies and processes relating to our obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.

20 November 2017