Money Laundering

1131 articles tagged with this keyword

/regulation

Regtech kompany raises €6 million

Business verification and KYC regtech kompany has raised almost €6 million in a funding round led by Fairway Global Investment together with Global Brain.

/regulation

ComplyAdvantage raises $50m for financial crime platform

AI-based financial crime detection startup ComplyAdvantage has closed a $50 million Series C funding round to fuel its international expansion plans.

/people

Westpac hires new IT head

Australian bank Westpac has appointed former ANZ technology chief Scott Collary to lead the consolidation of its technology and operations division.

/regulation

AML startups Lucinity and Hummingbird raise funds

Lucinity, an anti-money laundering software startup founded by a former Citigroup compliance tech expert, has raised $6.1 million in funding. Separately, another AML outfit, Hummingbird RegTech, has closed a $8.2 million Series A round.

/crime

SmartSearch breaks into US market

Leading UK anti-money-laundering (AML) firm SmartSearch is today launching operations in the USA.

/regulation

European Commission censures Austria, Belgium and the Netherlands for AML failings

The European Commission has today referred Austria, Belgium and the Netherlands to the Court of Justice of the European Union, with a request for financial sanctions, for failing to fully implement the 4th Anti-Money Laundering Directive (AMLD4) into their national law.

/crime

SEB hit with SEK1 billion fine for failing to tackle money laundering in Baltic operations

SEB has not sufficiently identified the risk of money laundering in its Baltic operations and has had deficiencies in its governance and control of the Baltic subsidiary banks’ anti-money laundering measures.

/regulation

Iosco consults on AI/ML guidance for market intermediaries and asset managers

The Board of the International Organization of Securities Commissions is requesting feedback on proposed guidance to help its members regulate and supervise the use of Artificial Intelligence (AI) and Market Learning (ML) by market intermediaries and asset managers.

/regulation

Aviva selects Fenergo to transform KYC, CDD and AML processes

Fenergo, the leading provider of digital transformation, customer journey and client lifecycle management (CLM) solutions for financial institutions has been selected by Aviva, to replace Know Your Customer (KYC), Customer Due Diligence (CDD) and Anti-Money Laundering (AML) systems and services.

/crime

EQ bolsters KYC in partnership with Encompass

EQ (Equiniti), an international technology-led services and payments specialist, is delighted to announce that it has partnered with Encompass to further bolster its KYC proposition.

/crime

FCA hits Commerzbank with £37.8 million fine for AML failings

The FCA has today fined Commerzbank AG (London Branch) £37,805,400 for failing to put adequate anti-money laundering (AML) systems and controls in place between October 2012 and September 2017.

/regulation

Equiniti to provide KYC service for the invoice finance industry

Equiniti Group plc (“Equiniti”), an international technology-led services and payments specialist, is delighted to announce that it is now able to provide an enhanced Know-Your-Customer (“KYC”) service for asset based and invoice finance lenders.

/regulation

Socure launches Intelligent KYC

Socure, the leader in Day Zero digital identity verification technology, today announced the launch of “Intelligent KYC,” unlocking scale and speed in customer acquisition, industry-leading auto-approval rates, and fewer manual reviews.

/crime

EU action against money laundering in the banking sector to go under auditor scrutiny

Money laundering is the practice of disguising the illegal origin of criminal proceeds.

/people

Libra Association names Credit Suisse exec Daines chief compliance officer

As it looks to get regulators onside, the Libra Association has brought in Credit Suisse's head of financial crime compliance, Sterling Daines, as chief compliance officer.

/security

Nice Actimize acquires Guardian analytics for fraud management

Financial services organizations of all sizes must remain one step ahead of financial crime.

/crime

Nasdaq buys stake in crime investigation automation company Caspian

Nasdaq (Nasdaq: NDAQ) announced today that its investment arm, Nasdaq Ventures, has taken a minority stake in the UK-based financial crime investigation automation company Caspian.

/crime

Crypto crime reaches $1.4bn so far in 2020

Just under $1.4bn was stolen through various crypto-related scams in the first five months of 2020, according to a report from cyber security firm CipherTrace

/regulation

Regxsa launches cloud-based AML offering

Regxsa, formerly known as AMLabc, empowers Financial Institutions in taking responsibility towards society and doing the right thing.