Money Laundering

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/regulation

CapBridge selects Know Your Customer for digital onboarding of retail investors

Singapore global private markets platform CapBridge has partnered with Know Your Customer to deliver fast and reliable client onboarding to retail investors of its innovative private market platform.

Will trust woes undermine Open Banking under PSD2?

/Money Laundering

Will trust woes undermine Open Banking under PSD2?

In a roundtable discussion held Wednesday in London hosted by digital payments firm PPRO, industry leaders met to explore the impact PSD2 has imposed on key players in Open Banking and the changes needed to achieve the regulation’s objective in 2020 and beyond.

OneCoin scam renews calls for crypto regulation

/Money Laundering

OneCoin scam renews calls for crypto regulation

The trial of crypto scam OneCoin's lawyer has renewed calls for robust regulation of cryptocurrency to address weaknesses of "human failure and human criminality".

FATF zeroes in on digital ID as key to AML compliance

/regulation

FATF zeroes in on digital ID as key to AML compliance

Issuing a draft Guidance Paper last week, the Financial Action Task Force (FATF) urges financial institutions to ready themselves for the impending global expansion of digital identification systems.

The State Of AI In Financial Services

/Money Laundering

The State Of AI In Financial Services

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/security

Jumio beta tests real-time identity verification product

Jumio, the leading AI-powered trusted identity as a service provider, today announced the beta release of Jumio Go, the company's first real-time, fully automated identity verification solution.

/regulation

Swedbank responds to AML sanction action

Swedbank has today received the SFSA's decision to initiate a sanction process in the ongoing AML investigation.

/payments

Sokin launches remittance service

Sokin the global cross-border payments firm is set to launch its transparent, secure and fast service remittance service which will allow millions of people to make unlimited low cost monthly international payments.

Regtech zooms in on the severe penalties of 6AMLD

/regulation

Regtech zooms in on the severe penalties of 6AMLD

The European Union’s Sixth Anti-Money Laundering Directive (6AMLD) is due to take effect on 3rd December 2020 and brings with it a suite of substantial penalties for non-compliance. Here’s what you need to be aware of in the run up to the fast-approaching deadline.

Global stablecoins pose monetary sovereignty risk - G7 working group

/regulation

Global stablecoins pose monetary sovereignty risk - G7 working group

Global stablecoins, such as Facebook's Libra, pose risks to financial stability, anti-money laundering efforts, anti-trust policy, and even monetary sovereignty, a new G7 working group has warned.

/regulation

Neotas gets grant for screening system

Neotas – a leading provider of online due diligence for the financial services sector - is joining forces with artificial intelligence (AI) experts at the University of Essex to develop a next-generation screening system.

/regulation

US regulators issue statement on digital asset AML obligations

The leaders of the U.S. Commodity Futures Trading Commission, the Financial Crimes Enforcement Network, and the U.S. Securities and Exchange Commission (the “Agencies”) today issued the following joint statement to remind persons engaged in activities involving digital assets of their anti-money laundering and countering the financing of terrorism (AML/CFT)obligations under the Bank Secrecy Act (BSA).[1]

/regulation

SmartSearch receives growth equity investment from Marlin Equity Partners

Award-winning company SmartSearch Ltd, one of the UK’s leading providers of RegTech software focused on Anti-Money Laundering (“AML”) solutions, today announced that it has received a growth equity investment from Marlin Equity Partners (“Marlin”).

/Money Laundering

Worldline celebrates sustainability ranking boost

Worldline, [Euronext: WLN] European leader in the payments and transactional services industry, announces that it has gained one place in the Sustainalytics ranking and became the 4th out of the 229 companies assessed in the Software and Services industry.

/regulation

EU supervisors highlight money laundering and terrorist financing risks in the financial sector

The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today their second joint Opinion on the risks of money laundering (ML) and terrorist financing (TF) affecting the European Union's (EU) financial sector.

/regulation

Edelweiss Asset Management to deploy Signzy e-KYC package

Edelweiss Asset Management Company, one of the fastest growing AMCs, today announced that it has partnered with India’s leading RegTech startup (which manages regulatory processes in the BFSI sector through technology) Signzy for digital customer onboarding and a faster verification process on its investment platform.

/regulation

Visma to offer Fico Siron anti-financial crime software

Visma Connect, the leading Dutch critical payments services provider and FICO have launched a partnership to jointly deliver FICO’s best-in-class Anti-Financial Crime solutions for Know Your Customer (KYC), anti-money laundering (AML) and real-time sanctions screening to banks, FinTechs, payment institutions, PSD2 third-party providers and corporations.

/regulation

HSBC introduces financial crime detection systems

HSBC Global Trade and Receivables Finance (GTRF) business has deployed an industry-leading Anti-Money Laundering (AML) system and an automated sanctions checking system as part of its ongoing efforts to improve financial crime detection.

/security

AxiomSL achieves security compliance with SOC 2 Attestation

AxiomSL, the leading provider of regulatory reporting and risk management solutions, today announced completion of The Service Organization Control (SOC) 2 Type II audit of RegCloud that confirmed the effectiveness of the firm’s internal controls for compliance and data protection.

/ai

Symphony AyasdiAI applies machine learning to AML compliance

Symphony AyasdiAI today announced the launch of Ayasdi AML, an advanced anti-money laundering (AML) solution that significantly boosts efforts to combat fraudulent money laundering schemes.

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