Money Laundering

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NatWest's Bó forced to fend off fraudsters in early days

/Money Laundering

NatWest's Bó forced to fend off fraudsters in early days

Bó, NatWest's new app-based bank has been actively targeted by fraudsters within weeks of its public launch.

Westpac hires Promontory to run AML review

/Money Laundering

Westpac hires Promontory to run AML review

Westpac has hired IBM subsidiary Promontory to undertake an independent review into the failings that led to the bank breaching AML/CTF laws on over 23 million occasions.

Westpac chief Hartzer quits over money laundering scandal

/Money Laundering

Westpac chief Hartzer quits over money laundering scandal

Westpac CEO Brian Hartzer has resigned and chairman Lindsay Maxsted has announced his early retirement in the wake of a money laundering scandal that is threatening to engulf the Australian bank.

Regtech Tookitaki raises $19.2m

/regulation

Regtech Tookitaki raises $19.2m

Singapore-based, AI-powered regtech startup Tookitaki has topped up its Series A funding round to a total of US$19.2 million.

/regulation

EastNets and Refinitiv team on AML platform

EastNets and Refinitiv today announced a partnership to offer enhanced automated access to software and data that enables real-time risk management and improved compliance capabilities to companies at risk of financial crime.

Westpac faces hefty fines for breaching anti-money laundering rules

/regulation

Westpac faces hefty fines for breaching anti-money laundering rules

Westpac could face unprecedented civil penalties, having been accused of contravening AML/CTF laws on over 23 million occasions by Australia’s anti money-laundering and terrorism financing regulator, Austrac.

PayPal invests in cryptocurrency compliance startup TRM

/regulation

PayPal invests in cryptocurrency compliance startup TRM

PayPal has joined a $4.2 million funding round for cryptocurrency compliance and risk management platform TRM Labs.

/ai

DBS taps Exiger for AI-based financial crime fighting package

To fend off the evolving risks of financial crime, DBS Bank has partnered with Exiger, the global leader in tech-enabled financial crime, risk and compliance solutions, to implement an artificial intelligence (AI) powered due diligence solution to streamline and further bolster the bank’s screening processes.

Russian accused of running carding forum extradited to US

/Money Laundering

Russian accused of running carding forum extradited to US

A Russian man accused of running a website selling stolen payment card details has been extradited from Israel to the US.

/Money Laundering

Protiviti and International RegTech Association study sets out roadblocks to effective KYC

Protiviti and the International RegTech Association (IRTA) have released the findings of a global market study they conducted to investigate the effectiveness of current ‘Know Your Customer’(KYC) processes.

Standard Chartered invests in regtech startup Silent Eight

/regulation

Standard Chartered invests in regtech startup Silent Eight

Standard Chartered’s innovation, fintech and ventures unit, SC Ventures, has participated in a Series A funding round for regtech Silent Eight.

The CIO’s blueprint for streamlining digital business agreements

/Money Laundering

The CIO’s blueprint for streamlining digital business agreements

80% of financial institutions will become irrelevant by 2030 due to their inability to compete with digitally-savvy rivals, according to research by Gartner.

/regulation

Standard Chartered adds Quantexa to financial crime ecosystem

Standard Chartered has partnered with Quantexa, the contextual decision intelligence software company, to amplify its anti-financial crime efforts globally.

/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

946 downloads

/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.

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