Money Laundering

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Seon raises $94 million to help fintechs meet sanctions obligations

/identity

Seon raises $94 million to help fintechs meet sanctions obligations

Anglo-Hungarian fraud prevention startup Seon has raised $94 million to expand across the US, Latin America and Asia Pacific and to develop tools to help firms meet sanctions obligations.

/crime

Blockchain technology enterprise OwlTing bolsters AML defenses with Napier

Napier, provider of leading anti-financial crime compliance solutions, announced that OwlTing Group, a blockchain technology enterprise, is the latest to leverage Napier’s AI-enhanced technology solutions to develop an effective financial crime compliance system, which improves its anti-money laundering (AML) and counter-terrorist financing (CTF) defenses and meets relevant regulatory requirements.

/crime

Oldenburgische Landesbank AG selects Inform's RiskShield for AML monitoring

INFORM and the Oldenburgische Landesbank AG (OLB) have embarked on a new project to implement RiskShield, a multichannel risk assessment, fraud detection and AML compliance monitoring solution, across several different channels within the financial institution’s operations.

London Stock Exchange acquires KYC specialist Global Data Consortium

/identity

London Stock Exchange acquires KYC specialist Global Data Consortium

London Stock Exchange Group (LSEG) is continuing its acquisition spree, buying digital ID firm Global Data Consortium to help clients with know your customers requirements.

EU lawmakers back tougher crypto AML rules

/crypto

EU lawmakers back tougher crypto AML rules

European Parliament members have voted to outlaw anonymous cryptocurrency transactions as part of an EU anti-money laundering package.

/people

TRM LAbs names Chris Janczewski head, global investigations

TRM Labs, the leading provider of cryptocurrency anti-money laundering (AML) and investigations software, announced today that former IRS-Criminal Investigations (IRS-CI) Special Agent Chris Janczewski has joined TRM as Head of Global Investigations, bringing extraordinary investigative expertise to the next generation blockchain intelligence company.

Bank of Italy bans N26 from onboarding new customers over AML failings

/regulation

Bank of Italy bans N26 from onboarding new customers over AML failings

The Bank of Italy has imposed a ban on the recutiment of new customers by digital bank N26 following an on-site inspection which uncovered lax money laundering controls.

/regulation

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.

/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.

UK regulators publish slew of papers on cryptoasset regulation

/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.

/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.

/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.

HSBC Ventures joins investment round in Silent Eight

/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.

Estonian AML pilot shows what’s possible when tackling FinCrime

/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.

/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.

/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.

KBC launches AI fintech

/startups

KBC launches AI fintech

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

FCA orders closure of all UK crypto ATMs

/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.

/regulation

Thirdfort closes £15m Series A

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

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

/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.

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