Money Laundering

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/regulation

EBA highlights key money laundering and terrorist financing risks across the EU

The European Banking Authority (EBA) today published its biennial Opinion on risks of money laundering and terrorist financing (ML/TF) affecting the European Union's financial sector.

/regulation

ING hit with €3 million fine by French financial regulator over AML flaws

ING has acknowledged the decision published today by the financial regulator in France, the Autorité de contrôle prudentiel et de résolution (ACPR), on ING in France, following its inspection in 2018, for shortcomings in its anti-money laundering (AML) and anti-terrorist financing framework.

/regulation

ABA Bank selects Alessa for AML compliance

Tier1 Financial Solutions, a leading provider of client relationship management, compliance and fraud prevention solutions, has announced that the ABA Bank has selected Alessa to fulfill its transaction monitoring, risk scoring, fraud detection and regulatory reporting needs to enhance its compliance to anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations.

/regulation

ABA Bank picks Alessa for AML compliance

Tier1 Financial Solutions, a leading provider of client relationship management, compliance and fraud prevention solutions, has announced that the ABA Bank has selected Alessa to fulfill its transaction monitoring, risk scoring, fraud detection and regulatory reporting needs to enhance its compliance to anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations.

/crime

LexisNexis Risk and Accuity merge operations

Accuity and LexisNexis Risk Solutions announced they are merging operations. Both businesses are RELX companies and leaders in their respective focus areas in the global financial crime compliance sector with complementary solutions.

/crime

CLS Stockbrokers signs for iFinancial AML package

iFinancials’ award-winning software AMLtrac has been selected by CSL Stockbrokers to help with the on-boarding of their customers and to meet their Anti Money Laundering obligations.

/regulation

Nice Actimize applies AI to watchlist screening

Financial services organizations are increasingly challenged to efficiently screen parties and payments against required sanctions lists.

The Future of Regulation 2021

/Money Laundering

The Future of Regulation 2021

838 downloads

/regulation

Kompany launches global shareholder discovery tech

Austrian RegTech firm kompany announced today the launch of its newest anti-money laundering compliance solution designed to ease ultimate beneficial ownership (UBO) discovery for regulated entities across the world.

/regulation

SmartSearch US introduces enhanced digital fraud checks with data referencing and triangulation

Leading anti-money laundering (AML) and ID fraud specialist SmartSearch U.S. is launching enhanced protection for businesses, in light of the latest AML legislation to pass through Congress on January 1st.

Davos 2021: Silver Lake co-founder dismisses belief about Bitcoin’s use for criminal activity

/crypto

Davos 2021: Silver Lake co-founder dismisses belief about Bitcoin’s use for criminal activity

Finextra is at Davos this year, covering global insights into the impact fintech has on wider issues such as responding to Covid-19, restoring economic growth and advancing a new social contract.

/crime

Refinitiv joins forces with The Sentry to prevent war criminals abusing the financial system

Refinitiv, one of the world’s largest providers of financial markets data and infrastructure, announced today its partnership with The Sentry, an investigative and policy team that seeks to prevent African war criminals and their business networks from abusing the international financial system.

EC and ECB join forces to investigate digital euro

/crypto

EC and ECB join forces to investigate digital euro

The European Commission and European Central Bank are working together to investigate the policy, legal and technical questions emerging from a possible introduction of a digital euro.

/cloud

NICE Actimize drives AML cloud transformation for Vancity

NICE Actimize, a NICE (NASDAQ: NICE) business, has been selected by Vancouver City Savings Credit Union (Vancity), a member-owned financial co-operative headquartered in British Columbia, Canada, to drive and implement its modernized, cloud-based antimoney laundering operation.

Citi picks Volante for global ISO 20022 migration

/wholesale

Citi picks Volante for global ISO 20022 migration

US banking giant Citi is enlisting Volante Technologies to accelerate its adoption of the ISO 20022 financial messaging standard across its global payments operations.

Capital One hit with $390 million fine over "egregious" AML failures

/crime

Capital One hit with $390 million fine over "egregious" AML failures

The Financial Crimes Enforcement Network (FinCEN) has enforced a $390 million civil money penalty on Capital One for engaging in both "willful and negligent" violations of the Bank Secrecy Act.

Swedish banks formalise AML information sharing pact with police

/crime

Swedish banks formalise AML information sharing pact with police

Sweden's five largest banks have formalised an information sharing pact with the country's police force aimed at cracking down on money laundering.

/crime

Owner of bitcoin exchange sentenced to prison for money laundering

A Bulgarian national who was convicted by a federal jury for his role in a transnational and multimillion-dollar scheme to defraud American victims was sentenced today to 121 months in prison.

/regulation

OCC terminates Wells Fargo AML consent order

Wells Fargo & Company (NYSE: WFC) today announced that the Office of the Comptroller of the Currency (OCC) has terminated a 2015 consent order related to the company’s Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program.

/regulation

Fenergo automates client onboarding for Mizuho Americas

Fenergo, the leading provider of digital transformation, customer journey and client lifecycle management (CLM) solutions for financial institutions, today announces that Mizuho Americas has deployed Fenergo’s software to automate Know Your Customer (KYC) and Anti-Money Laundering (AML) regulatory processes, digitalize workflows and accelerate client onboarding onto a single platform.

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