Latest Money Laundering News: Finextra Research

Broadridge releases AI-powered AML package

To better serve clients and the financial services industry, Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader, today announced the launch of the Broadridge Anti-Money Laundering Solution (AMLS), bringing new, leading edge capabilities to Broadridge’s existing Intelligent Automation suite.

12 October 2021

News/regulation

NatWest pleads guilty to money laundering charges

NatWest has pleaded to guilty to three offences under money laundering regulations that led to almost £400 million in payments from a single customer being washed through the bank.

07 October 2021

News/crime

Singapore preps data sharing platform to tackle money laundering

The Monetary Authority of Singapore (MAS) is building a digital platform that lets banks share information on customers and transactions in order to tackle money laundering, terrorism financing and proliferation financing.

05 October 2021

Company update/regulation

Hampshire Trust Bank to deploy ComplyAdvantage AML suite

ComplyAdvantage, a global data technology company transforming financial crime detection, today announced that Hampshire Trust Bank (HTB), a specialist bank, focused on lending to UK businesses has selected the company’s award-winning anti-money laundering (AML) suite of solutions including Customer Screening and Onboarding, Adverse Information & Media, Transaction Monitoring and Transaction Screening.

30 September 2021

News/regulation

N26 fined €4.25 million over AML failings

German digital bank N26 has been fined €4.25 million by BaFin over lax money laundering controls.

29 September 2021

Company update/regulation

Ppro makes minority investment in Sentinels

Ppro, the leading local payments infrastructure provider, has today announced a strategic partnership and minority investment in Sentinels, Europe’s leading transaction monitoring startup based out of the Netherlands.

22 September 2021

Company update/regulation

Lithuanian EMI, Satchel, introduces new AML controls with Napier

RegTech company, Napier, provider of advanced anti-financial crime compliance solutions, has announced that Satchel, a Lithuanian-based electronic money institution (EMI), is the latest to deploy its scalable AI-enhanced technology as the firm targets further international growth.

21 September 2021

News/regulation

CCAF, World Bank and World Economic Forum call on fintechs to uncover Covid-19 impact

The Cambridge Centre for Alternative Finance (CCAF), World Bank and World Economic Forum are calling on fintechs to participate in data collection for the group’s Global Covid-19 FinTech Market Impact & Industry Resilience Study before its October deadline.

20 September 2021

Company update/people

SmartSearch appoints general counsel

Leading UK anti-money laundering specialist SmartSearch has appointed a new in-house general counsel to provide expert guidance on legal issues affecting the business.

20 September 2021

News/crypto

Crypto regtech Coinfirm raises $8m; appoints Mircea Mihaescu CEO

Coinfirm, a regtech targeting digital currencies and blockchain-based finance, has raised $8 million in funding and appointed industry veteran Mircea Mihaescu as CEO.

17 September 2021

Company update/people

IComply adds regtech vet Paul Childerhose to advisory board

IComply Investor Services (“iComply”), a global compliance software provider, is announcing that Paul Childerhose, a recognized leader in the Canadian RegTech industry, has been appointed to iComply’s advisory board.

15 September 2021

News/regulation

Australian fintechs rail against ‘de-banking’ practices

During a Senate inquiry into “Australia as a Technology and Finance Centre” representatives from three fintech firms criticised Australian banks for their ‘de-banking’ practices, which tend to hit those involved in the crypto sector particularly hard.

10 September 2021

Company update/regulation

Identitii ships new SaaS regulatory reporting platform

Identitii Limited (ASX:ID8) (Identitii, Company) is pleased to announce the launch of a brand-new Software-as-a-Service (SaaS) platform designed to help reduce the risk of non-compliance with international anti-money laundering (AML) and counter-terrorist financing (CTF) reporting obligations, starting with Australia’s AUSTRAC.

02 September 2021

Company update/regulation

Crif invests in Know Your Customer

Leading banking credit information provider CRIF today announced a global commercial partnership with award-winning RegTech company Know Your Customer underpinned by a strategic financial investment into the firm.

31 August 2021

News/people

Binance hires new Singapore CEO amid ongoing legal battles

Fiat-to-crypto trading platform Binance has today announced the appointment of Richard Teng – former chief executive officer (CEO) of Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM) – as its new CEO, Singapore.

23 August 2021

Company update/crime

Total value of AML enforcement is skyhigh, reaching $2.2bn in 2020

Kroll, the world’s premier provider of services and digital products related to valuation, governance, risk and transparency, has today published new data showing that the COVID-19 pandemic has not stunted global enforcement action for anti-money laundering (AML) failings.

23 August 2021

Company update/crime

Smartsearch launches document verification system to combat money laundering

Leading UK anti-money laundering specialist SmartSearch has launched a new weapon in the ongoing fight against dirty cash being cleaned around the world through activity such as buying property.

23 August 2021

Research/Money Laundering

Cost of doing business as usual or an avoidable drain on margin?

19 August 2021 193 downloads

Company update/regulation

FinClusive launches as a validation agent in Global Legal Entity Identifier System

Ubisecure, the leading Legal Entity Identifier (LEI) issuer known for its RapidLEI service, and FinClusive, a hybrid financial-/regulatory-technology company that enables digital access to accounts and payments with embedded full-stack financial crimes compliance, have announced a partnership to streamline registration of LEIs within FinClusive’s Compliance-as-a-Service (CaaS) solution for Know Your Customer (KYC) / Know Your Business (KYB) client onboarding, monitoring, and management.

17 August 2021

Company update/regulation

Crypto firm BCB Group implements AML compliance technology with Napier

RegTech company and provider of advanced anti-financial crime compliance solutions, Napier, has announced that its sophisticated AI-enhanced technology has been chosen by BCB Group, a crypto-dedicated provider of payments, business accounts and trading services for the digital asset economy.

17 August 2021