Latest Money Laundering News: Finextra Research

Thomson Reuters signs Barclays, Rand Merchant Bank and Standard Bank to SA KYC utility

Thomson Reuters today announced the launch of its Org ID managed service solution for Know Your Customer (KYC) due diligence in South Africa, together with design partner banks Barclays Africa, Rand Merchant Bank (a division of FirstRand Bank) and Standard Bank of South Africa who have all committed to use the Org ID service to perform KYC on their populations of corporate and institutional banking clients.

13 July 2016

Company update/Money Laundering

FXNet.com selects iSignthis for Digital KYC Services

iSignthis Ltd (ASX : ISX) is pleased to announce that it has entered into an agreement with online Forex and CFD broker, FxNet Ltd.

12 July 2016

Company update/Money Laundering

Hatstand joins with Sqreem on surveillance platform

Global financial services consultancy and capital market specialist Hatstand, a Synechron company, announces it has established a strategic partnership with Sqreem, a pattern detection and predictive analysis software firm, to jointly provide solutions for use with financial crime.

07 July 2016

News/Money Laundering

WorldCheck crime data leaked on Net

The records of 2.2 million individuals and organisations suspected of being involved in terrorist activity or financial crime have been leaked on the public Internet.

29 June 2016

Company update/Money Laundering

Swift adds news service to KYC Registry

SWIFT announces the launch of KYC Adverse Media, a news service integrated into its KYC Registry, a centralised repository that maintains a standardised set of information about financial institutions required for KYC compliance.

29 June 2016

Company update/Money Laundering

Euro Exim Bank deploys iGTB tech for KYC processing

Intellect Design Arena Limited’s iGTB division, the world’s first comprehensive global transaction banking solution, announced today that Euro Exim Bank, the trade finance specialist, is to implement DDIQ: the most advanced due diligence tool for compliance.

16 June 2016

Company update/Money Laundering

KYC and reference data management platform Alacra inks distribution deal with OutsideIQ

Regulatory SaaS technology leader Opus announced today that Alacra, its KYC and reference data management platform, has signed a distribution partnership with OutsideIQ, the leader in risk-focused, artificial intelligence software.

09 June 2016

Company update/Money Laundering

Mesirow Financial goes live on Clarient Entity Hub

Clarient Global LLC (“Clarient”) today announced that Mesirow Financial, Inc. (“Mesirow”), an independent diversified financial services firm, has gone live on Clarient Entity Hub, a utility-based service designed to simplify client data and document management.

01 June 2016

News/Money Laundering

MEPs call on Commission to set up virtual currency task force

The EU Commission should set up a taskforce to monitor virtual currencies to prevent their being used to launder money or finance terrorism, said Parliament in a non-binding resolution voted on Thursday.

27 May 2016

News/Money Laundering

Blockchain tech could save cash equities market $6bn a year - Goldman Sachs

The use of blockchain technology for clearing and settlement in the cash equities market could save banks around the world $6 billion a year, mainly through lower headcounts and back office IT costs, according to a Goldman Sachs report.

26 May 2016

Company update/Money Laundering

iForex and iSignthis to pilot digital KYC

iSignthis Ltd (ASX : ISX) is pleased to announce that it has entered into a pilot agreement with the industry leader in online trading, iFOREX.

25 May 2016

Company update/Money Laundering

Pimco hires Markit/Genpact joint venture kyc.com

kyc.com, the joint venture between Markit (Nasdaq: MRKT) and Genpact (NYSE: G), today announced that PIMCO has selected kyc.com, and Markit, a leading global provider of financial information services, to complement its due diligence and onboarding requirements.

17 May 2016

Company update/Money Laundering

Equifax and BAE Systems launch anti-financial crime package

Business insights expert Equifax and BAE Systems, cyber security and anti-financial crime specialists, are launching the Equifax Watchlist Check to help companies fight money laundering and terrorist financing.

16 May 2016

Company update/Money Laundering

Kompany to move company records to a blockchain

At today’s 2016 joint conference of the European Commerce Registers’ Forum (ECRF) and Corporate Registers’ Forum (CRF) in Cardiff, UK, kompany.com announces its development to provide electronic ledgers of original and authoritative company information.

12 May 2016

News/Money Laundering

Founder of digital money laundering operation Liberty Reserve gets 20 year prison term

The founder of Liberty Reserve - a digital currency outfit used by cybercrooks to launder hundreds of millions of dollars - has been sentenced to 20 years in prison.

10 May 2016

Company update/Money Laundering

Know Your Customer surveys reveal escalating costs and complexity

Parallel surveys show differing perspectives of financial institutions and their corporate customers on the effect of financial firms’ spend of up to $500 annually on KYC globally

09 May 2016

News/Money Laundering

Bangladesh Bank hack costs Philippines bank chief's job; Swift hits back at 'false' allegations

The president of Philippines-based Rizal Commercial Banking Corp (RCBC) has resigned despite being cleared by an internal investigation into the bank's connection with the $81 million Bangladesh Bank hacking scandal.

09 May 2016

Company update/Money Laundering

ECB kills off EUR500 note

Today the Governing Council of the European Central Bank (ECB) concluded a review of the denominational structure of the Europa series. It has decided to permanently stop producing the €500 banknote and to exclude it from the Europa series, taking into account concerns that this banknote could facilitate illicit activities.

04 May 2016

News/Money Laundering

India's Paytm enlists Wipro for payments bank tech platform

Indian mobile commerce network Paytm has enlisted Wipro to help it build the technology platform for its forthcoming payments bank business.

02 May 2016

Company update/Money Laundering

ISignthis integrates KYC service with Yeepay

ISignthis Ltd (ASX: ISX) (“the Company” or “iSignthis”) has received executed access agreements, and also finalised and tested its technical integration with Yeepay, and its subsidiary the Beijing Yi HuiJin Information Service Co. Ltd (together “Yeepay”).

26 April 2016