Money Laundering

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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.

/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.

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

/Money Laundering

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

193 downloads

/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.

/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.

/regulation

FCA receives 2,754 separate allegations of financial misconduct from whistleblowers

The Financial Conduct Authority (FCA) has received a total of 2,754 separate allegations of misconduct, including fraud, money laundering and compliance complaints, according to official figures.

/crime

Bottomline debuts real-time watchlist screening

Bottomline (NASDAQ: EPAY), a leading provider of financial technology that makes complex business payments simple, smart and secure, today announced the availability of Bottomline Watchlist Screening (WLS) delivered by lightweight API implementation through Bottomline’s SaaS technology.

/crime

RegTech Onepip installs Napier AML tech

RegTech company, Napier, provider of advanced anti-financial crime compliance solutions, has announced that cross-border payment specialist ONEPIP will be using its technology as part of ONEPIP’s upgraded anti-money laundering (AML) controls.

Binance US chief Brooks quits after four months

/people

Binance US chief Brooks quits after four months

Brian Brooks has quit as the US CEO of troubled crypto exchange Binance just four months into the job, citing "differences over strategic direction".

/regulation

EBA consults on new guidelines on the role of AML/CFT compliance officers

The European Banking Authority (EBA) launched today a public consultation on new Guidelines on the role, tasks and responsibilities of anti-money laundering and countering the financing of terrorism (AML/CFT) compliance officers.

/identity

ID verification startup Qoobiss launches KYC package

Digital identity verification startup Qoobiss launches a fully automated Know-Your-Customer (KYC) solution, empowering companies to verify their customers’ identity digitally, while maintaining complete data privacy.

/crypto

Paysafe chooses Elliptic to support crypto payments compliance

Elliptic, a global leader in cryptoasset risk management, has been selected by Paysafe, a leading specialized payments platform, for its Elliptic Lens solution.

New EU AML rules will ensure full traceability of crypto transfers

/crypto

New EU AML rules will ensure full traceability of crypto transfers

The European Commission is to extend anti-money laundering rules to the entire crypto sector as part of a wider overhaul of financial crime safeguards.

/people

Encompass appoints Cyndi festa as head of data souring

Encompass Corporation, the fast-growing provider of intelligently automated Know Your Customer (KYC) solutions, today announces the appointment of data management veteran Cyndi Festa to the new role of Head of Data Sourcing.

FCA warns retail banks over AML failings

/regulation

FCA warns retail banks over AML failings

The UK's retail banks have been issued a warning by the Financial Conduct Authority about weaknesses surrounding their financial crime controls.

UK cops make record crypto haul in money laundering investigation

/crypto

UK cops make record crypto haul in money laundering investigation

UK police have made the UK’s largest cryptocurrency seizure worth nearly £180 million, topping a £114 million confiscation made just two weeks ago.

Quantexa eyes acquisition opportunities on $153 million fund raise

/crime

Quantexa eyes acquisition opportunities on $153 million fund raise

Financial crime fighting platform Quantexa has has raised $153M in Series D funding from Warburg Pincus and a group of blue-chip investors.

/regulation

IHS Markit allies with Complidata for trade finance venture

IHS Markit (NYSE: INFO), a world leader in critical information, analytics and solutions, and Complidata, a data driven AML innovation company, have announced a partnership to offer customers in the trade finance space a series of risk and compliance datasets that will enhance financial crime due diligence frameworks and assist in the digitisation of the overall trade compliance workflow.

/crypto

Silvergate Bank enlists Elliptic to automate KYC for crypto business

Elliptic today announced that Silvergate Bank, the leading provider of financial infrastructure solutions and services for the growing digital currency industry, has integrated Elliptic’s cryptoasset risk management and blockchain analytics, into its platform to serve more virtual asset services providers (VASPs) and other crypto businesses.

/regulation

Transactive upgrades internal AML transaction monitoring platform with Sentinels

Transactive is one of the leading fintechs adopting the open banking initiative. It provides businesses access to digital banking services via its B2B2C payments platform.

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