1137 articles tagged with this keyword
News/regulation
In a recent consultation paper, the Prudential Regulation Authority (PRA) set out its proposed approach to the supervision of both new and growing non-system UK banks.
24 August 2020
Company update/identity
Contemi Solutions, a global fintech provider, today announced that it has partnered with GBG, a global specialist in Identity Data Intelligence, to fully integrate its client Onboarding solution with GBG’s Identity Verification solution for automated KYC, AML and customer verification capabilities.
18 August 2020
Company update/crypto
Elliptic, the global leader in cryptoasset risk management solutions, today announced that it will now monitor Binance Chain and its native cryptoasset BNB, which averages USD 250 million in daily trading volume.
News/crypto
US authorities have seized millions of dollars in cryptocurrency linked to online terrorist financing campaigns involving Hamas, al-Qaeda and ISIS.
13 August 2020
Company update/crime
It’s not just cyber technologies or digital currencies that are worrying financial crime teams in financial institutions across the UK & Ireland. It’s also the increasing volume and variety of more established financial crimes that aren’t new, but are incredibly hard to detect, such as mule activity; the proceeds of trafficking; the abuse of corporate structure and the criminal use of third parties.
News/crime
The world's banks are continuing to struggle in their obligations to combat financial crime, with AML fine values in 2020 already surpassing 2019 as firms are repeatedly sanctioned for the same failings, according to a study by Duff & Phelps
10 August 2020
Business verification and KYC regtech kompany has raised almost €6 million in a funding round led by Fairway Global Investment together with Global Brain.
05 August 2020
AI-based financial crime detection startup ComplyAdvantage has closed a $50 million Series C funding round to fuel its international expansion plans.
28 July 2020
News/people
Australian bank Westpac has appointed former ANZ technology chief Scott Collary to lead the consolidation of its technology and operations division.
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.
17 July 2020
Leading UK anti-money-laundering (AML) firm SmartSearch is today launching operations in the USA.
14 July 2020
Research/Money Laundering
14 July 2020 838 downloads
Company update/regulation
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.
03 July 2020
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.
25 June 2020
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.
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.
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.
23 June 2020
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.
17 June 2020
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.
16 June 2020
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.
11 June 2020
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.