Money Laundering

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EBAday: Collaboration and the future of fraud prevention in PaaS

/payments

EBAday: Collaboration and the future of fraud prevention in PaaS

The second day of EBAday 2023 started off with the hot topic of Payments as a Service (PaaS), and specifically some of the preventative measures which need to be undertaken to secure PaaS against cyber-attacks and fraud.

Crypto.com gets licence in Spain

/crypto

Crypto.com gets licence in Spain

Cryptocurrency platform Crypto.com has been granted virtual asset service provider (Vasp) registration by the Bank of Spain.

/regulation

Finastra and ADVANTAQ partner for streamlined compliance onboarding for banks in the Caribbean

Finastra, a global provider of financial software applications and marketplaces, and ADVANTAQ, the leading compliance technology partner in the Caribbean, today announced that ADVANTAQ’s compliance solutions are now directly integrated with Finastra Opics, offering Caribbean-based banks the ability to onboard their customers in one portal, creating a seamless customer experience.

Lithuania revokes licence of former Railsr unit

/regulation

Lithuania revokes licence of former Railsr unit

A former subsidiary of failed embedded banking platform Railsr has had its licence revoked by the Bank of Lithuania over “serious violations” of AML and payments laws.

Singapore fines banks for AML breaches in Wirecard affair

/regulation

Singapore fines banks for AML breaches in Wirecard affair

Singapore has slapped three banks and an insurer with fines for anti-money laundering breaches connected with the Wirecard scandal.

Binance quits Netherlands after failing to get licence; faces French investigation

/regulation

Binance quits Netherlands after failing to get licence; faces French investigation

Binance's regulatory woes continue, with the crypto exchange forced to exit the Netherlands and facing up to a French investigation in "aggravated" money laundering.

/crime

Amlyze and Salt Edge form strategic partnership

AMLYZE, a leading RegTech company specializing in anti-financial crime solutions for FinTechs, neo-banks and crypto businesses, is excited to announce its strategic collaboration with Salt Edge, a leading open banking platform.

Lithuania revokes Transactive Systems UAB's licence over AML failures

/regulation

Lithuania revokes Transactive Systems UAB's licence over AML failures

The Bank of Lithuania has revoked Transactive Systems UAB's electronic money institution licence and fined the payments firm €280,000 for "seriously and systematically" infringing anti-money laundering and counter terrorist financing requirements.

/regulation

Tuum teams with RegTech Fourthline

Tuum and Fourthline have partnered to offer European financial institutions a secure and agile core banking solution that incorporates world-leading end-to-end customer onboarding and monitoring in compliance with KYC (Know Your Customer) and AML (anti-money laundering) regulations.

BIS explores use of data, tech and collaboration to combat money laundering

/regulation

BIS explores use of data, tech and collaboration to combat money laundering

Using payments data, privacy-enhancing technologies, AI and enhanced cooperation for a behavioural-based analysis approach to detecting money laundering networks is more effective than the current rules-based approach, concludes new research from the BIS Innovation Hub.

/crypto

EBA consults on extending money laundering rules to crypto assets

The European Banking Authority (EBA) launched today a public consultation on amendments to its Guidelines on money laundering and terrorist financing (ML/TF) risk factors.

RegTech startup Amlyze snags $1 million pre-seed investment

/startups

RegTech startup Amlyze snags $1 million pre-seed investment

Vilnius-based RegTech startup Amlyze, has concluded a $1 million pre-seed investment round led by Practica Capital, with participation from Lithuania's Firstpick accelerator and venture capital fund.

/crime

NTT Data Payment Services implements Facctum anti-financial crime technology

Facctum has announced that FacctViewTM, a new screening platform, has been chosen by NTT Data Payment Services to expand its anti-financial crime defenses.

/security

Mastercard integrates Vesta's fraud solutions into Gateway Services

With merchants estimated to suffer more than US$48 billion in eCommerce fraud globally in 2023 – 22% of that in Asia[1] – Mastercard today announced the expansion of its partnership with Vesta, the global leader in payment fraud protection.

/people

Global Screening Services appoint Stephen Gilderdale, former CPO at Swift, as senior advisor

Global Screening Services (GSS), a RegTech innovator focused on financial transaction screening, has today announced that Stephen Gilderdale will be appointed as Senior Advisor to the business.

/crime

Experian teams up with Kyckr for KYC checks

Kyckr, the corporate Know Your Customer company, has announced its new integration with the world's leading global information services company, Experian.

/people

Fourthline recruits Peter Grausguber from BitPanda as new CFO

Fourthline, the leading RegTech provider of AI-powered and compliant KYC and AML solutions, is pleased to announce the appointment of Peter Grausgruber as its Chief Financial Officer (subject to approval from the Dutch Central Bank).

/identity

Fincapital Partners selects iDenfy for KYC veriffications

iDenfy, an AI-enabled identity verification, and fraud prevention tech startup, announced its partnership with Fincapital Partners, an all-in-one banking and asset management platform that offers comprehensive financial services.

Regulator AML concerns scuppered TD Bank-First Horizon deal - WSJ

/regulation

Regulator AML concerns scuppered TD Bank-First Horizon deal - WSJ

TD Bank's $13.4 billion purchase of US bank First Horizon collapsed over regulator concerns about the Canadian lender's anti-money laundering (AML) practices, according to the Wall Street Journal.

/crime

Bank of Valletta adopts Resistant AI’s AML tech

Resistant AI, the AI and machine learning financial crime prevention specialists, today announces that Bank of Valletta, the largest bank in Malta, is to adopt its Transaction Forensics product for anti-money laundering (AML).

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