Latest Money Laundering News: Finextra Research

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.

12 August 2021

Company update/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.

11 August 2021

Company update/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.

10 August 2021

News/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".

06 August 2021

Company update/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.

02 August 2021

Company update/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.

29 July 2021

Company update/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.

22 July 2021

News/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.

20 July 2021

Company update/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.

15 July 2021

News/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.

14 July 2021

News/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.

13 July 2021

News/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.

13 July 2021

Company update/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.

08 July 2021

Company update/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.

07 July 2021

Company update/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.

28 June 2021

News/crypto

UK cops seize £114m in crypto

UK police have seized £114 million in cryptocurrency as part of a money laundering investigation.

25 June 2021

News/crime

Anti-money laundering expert convicted of money laundering

The former chairman of a UK group that represents the payment services industry has been convicted of complicity in the laundering of the proceeds of an investment fraud worth £850,000 and involving more than 60 victims.

25 June 2021

Research/Money Laundering

The Future of Payments 2021

23 June 2021 1436 downloads

Company update/regulation

ComplyAdvantage adds Know Your Business data

ComplyAdvantage, a global leader in AI-driven financial crime risk data and detection technology, today announced that the company has added Know Your Business (KYB) data to create the industry’s first unified and most comprehensive data graph of individuals and business entities.

22 June 2021

News/regulation

AML regulations driving up compliance costs across UK

A new report by LexisNexis Risk Solutions has found that increased AML regulations, more so than criminal threats, are intensifying compliance costs for UK financial institutions.

18 June 2021