Money Laundering

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/crime

US Treasury sanctions Tornado Cash

Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned virtual currency mixer Tornado Cash, which has been used to launder more than $7 billion worth of virtual currency since its creation in 2019.

CBDCs could be 'holy grail' of cross-border payments - ECB

/payments

CBDCs could be 'holy grail' of cross-border payments - ECB

Central Bank Digital Currencies (CBDCs) could be the answer to the thousand-year search for the holy grail of cross-border payments, according to a new paper from the ECB.

/regulation

SmartKYC introduces smartLists

Financial crime teams have long struggled with seamlessly integrating their internal watchlist data into their due diligence work.

Robinhood Crypto hammered by New York watchdog over litany of compliance failures

/regulation

Robinhood Crypto hammered by New York watchdog over litany of compliance failures

Robinhood's crypto unit (RHC) has been slapped with a $30 million fine by New York State Department of Financial Services for "significant" anti-money laundering, cybersecurity and consumer protection violations.

/regulation

Lerex Technology signs with ID-Pal

ID-Pal, the identity verification provider, has been appointed by Lerex Technology, the payment solution provider, to help with its growing identity verification, e-verification, Anti-Money Laundering (AML) and Know your Customer (KYC) requirements.

/crime

45% of firms failing to detect criminal 'ghosts'

Almost half (45 per cent) of finance and banking firms are failing to carry out crucial “ghost-buster” checks on new business clients, newly released data shows.

/regulation

Ondato launches automated AML risk scoring

Ondato, a technology company that streamlines KYC (Know Your Customer) and AML (Anti-Money Laundering) processes, today announces the launch of Ondato Risk Scoring, an automated tool for companies to identify and manage customer-associated risk better and faster during onboarding.

Dutch Central Bank fines Binance EUR3.3m

/crypto

Dutch Central Bank fines Binance EUR3.3m

The Dutch central bank has fined cryptocurrency exchange Binance EUR3.325 million for offering it services in the Netherlands without registration.

/regulation

SymphonyAI to buy BAE Systems' AML unit

SymphonyAI, a leader in high-value enterprise AI SaaS for strategic industries, announced today it is acquiring financial crime detection leader NetReveal from BAE Systems. This acquisition marks a significant step in SymphonyAI’s expansion strategy within the financial vertical.

/regulation

Recognise Bank speeds customer onboarding with TruNarrative

Recognise Bank, the fintech powered business lender and savings provider, has partnered with TruNarrative, a LexisNexis Risk Solutions company, to completely transform the onboarding process for its SME business lending customers.

/security

Shufti Pro to deliver AML verification for Mintus art platform

UK-based Shufti Pro, a leader in identity verification solutions, today announced it has been selected by art investment platform Mintus to provide leading-edge KYC and AML identity verification solutions.

/security

FullCircl enhances HMRC Import and Export Data Extension

FullCircl, the Customer Lifecycle Intelligence (CLI) platform that helps B2B companies in financially regulated industries do better business faster, has launched its latest Premium Data Extension (PDE). The new HMRC Import and Export Data Pack allows users to understand which of their customers are trading internationally – critical for KYC, AML, and continuous due diligence monitoring, as well as identifying opportunities to support customers and cross-sell products and services.

Canadian banks team on KYC solution

/regulation

Canadian banks team on KYC solution

Some of Canada's biggest banks are joining forces with market and infrastructure services provider CanDeal to set up a centralised KYC offering for the capital markets industry.

/regulation

Lucinity and Experian form Know Your Business partnership

Lucinity and Experian announced today that the companies have entered a strategic partnership to deliver next-generation ongoing Know Your Business (KYB) and compliance risk assessments.

/regulation

ComplyAdvantage ships free tool to verify customers using PEPs, media & additional data insights

ComplyAdvantage, a global data technology company transforming financial crime detection, today announced the release of a new tool called ComplyTry, enabling anyone to verify prospective customers using live sanctions, politically exposed people (PEPs) and adverse media data for free.

Money 20/20: Major Fraud & FinCrime Management Trends in EMEA

/crime

Money 20/20: Major Fraud & FinCrime Management Trends in EMEA

Matt Mills, Chief Commercial Officer & GM, Featurespace, speaks at Money 20/20 about the latest trends in fraud and fincrime management, where AI & ML come in and how the technology can help tackle the challenges presented here, why model explainability is so important, and what we expect from this space in EMEA.

/regulation

Juni signs for combined ID verification and Know Your Business services from iDenfy

The Lithuanian identity verification and compliance company iDenfy, joined forces with Juni, the financial management platform made for ecommerce.

UK removes AISPs from AML regulation

/regulation

UK removes AISPs from AML regulation

The UK government has decided to remove account information service providers (AISPs) from anti-money laundering regulation.

/crime

Juni signs with Salv for fincrime risk monitoring and screening

Salv, the regtech company founded by Wise and Skype employees, has entered into a partnership with Swedish fintech company Juni, the fast-growing financial companion for e-commerce, which is on its way to change the future of financial services.

/regulation

Know Your Customer expands real-time registry connections to 123 countries

International RegTech provider Know Your Customer has today announced its most significant product release to date.

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