Latest Money Laundering News: Finextra Research

Incumbents vs neobanks: Leverage new technology or risk crumbling

Financial institutions are focusing heavily on digital transformation driving innovation, better customer experience and cost reduction as they shift gears from simply meeting regulatory and compliance needs to remain relevant in a digital world.

20 September 2019

Company update/ai

Fineksus and Neterium partner for AI-driven AML

For years, banks and regulated entities have been using solutions designed in the last decade, with low efficiency having a devastating effect on compliance costs, and only a marginal real impact on illegal activity.

19 September 2019

News/Money Laundering

Dutch banks join forces to tackle money laundering

Five of the biggest banks in the Netherlands are looking into the creation of a joint body to monitor payment transactions and fight money laundering.

18 September 2019

News/security

Cyber-crime best tackled by international co-operation

Joining day two of the World Conference of Banking Institutes, Ian Dyson - Commissioner of the City of London Police addresses the challenges of cyber-crime in this period of digital disruption. In addition to the uncertainty surrounding Brexit and the potential no-deal outcome, the question of balancing privacy with data protection remains a critical priority for financial institutions in 2019.

18 September 2019

Company update/regulation

Luxoft forms alliance with Fenergo

Fenergo, the leading provider of client lifecycle management (CLM) solutions for financial institutions, today announced that Luxoft, a DXC Technology (NYSE: DXC) company has joined its partner eco-system and become a Global Platinum Partner.

11 September 2019

News/Money Laundering

Chinese official voices digital coin plans

More details have emerged around China's plans to issue its own digital coin following a lecture given by a senior official at the central bank.

06 September 2019

News/Money Laundering

Singapore to accept first digital bank applications

Two months after announcing plans to issue digital banking licences, the Monetary Authority of Singapore (MAS) is set to accept the first applications.

29 August 2019

News/Money Laundering

Aussie regulator turns to tech in new strategy

Australia's capital markets regulator has vowed to expand its use of new technology and behavioural data as part of a strategic plan to strengthen its enforcement.

28 August 2019

News/regulation

Indonesian regulator OJK shuts down 826 fintechs – Bloomberg

The Indonesian Financial Services Authority, known as OJK, has shuttered a staggering 826 fintech startups operating without a license in this year alone, despite the increased appetite for the industry in the Southeast Asian nation.

02 August 2019

News/security

Capital One data breach inquiry launched by Republicans

The US House of Representatives Committee on Oversight and Reform has requested a briefing with Capital One over the data breach that left 106 million credit card holders and applicants in the US and Canada at risk of their personal information being stolen.

02 August 2019

Company update/regulation

Refinitiv adds Ultimate Beneficial Ownership and Vessel data to World-Check One resource

Refinitiv has integrated Ultimate Beneficial Ownership data (UBO) and Vessel data into its leading Risk Intelligence platform World-Check One, creating a formidable resource to help unravel complicated ownership structures and screen entities in line with Know-Your-Customer (KYC) and financial crime regulations across the globe.

24 July 2019

Company update/regulation

European Commission steps up action to combat money laundering

The European Commission is today adopting a Communication and four reports that will support European and national authorities in better addressing money laundering and terrorist financing risks.

24 July 2019

Company update/ai

Currencies Direct chooses Onfido to scale customer onboarding

Onfido, the award-winning global identity verification platform, today announced a partnership with Currencies Direct, the leading international payments provider, to power its identity verification for onboarding new customers.

22 July 2019

Finextra TV/Money Laundering

How to protect and innovate in a real time open ecosystem

Marcus Hughes, Head of Strategic Business Development, Bottomline Technologies, speaks at EBAday 2019 about how banks can keep pace with ever-more sophisticated fraudsters while transitioning to real time payments and maximising the opportunities of PSD2.

16 July 2019

Company update/regulation

Blockpass provides eKYC service to Hong Kong broker tech firm 2GoTrade

Digital identity verification provider Blockpass has announced its first mainstream financial integration providing its eKYC service to Hong Kong based broker technology platform provider 2GoTrade.

12 July 2019

Company update/regulation

GVS chooses Know Your Customer for documentary evidence and customer onboarding

Global smart technology client verification solution provider, Know Your Customer has finalised a deal with e-money institution, GVS Prepaid.

10 July 2019

Company update/security

Daon and CTMS form digital onboarding partnership

Daon, a global leader in biometric identity technology, and CTMS, a digital onboarding and anti-fraud specialist, announced today a partnership agreement in France and other French-speaking countries.

09 July 2019

News/regulation

Nordic banks get EC green light for shared KYC platform

A group of six top Nordic banks is forging ahead with plans to set up a joint platform for handling Know Your Customer (KYC) data.

08 July 2019

News/ai

AI-based fraud detection startup Bleckwen raises $10m

Bleckwen, a provider of AI-based real-time analytics software for payments fraud detection and prevention, has emerged from stealth with a $10 million funding round led by Ring Capital and TempoCap.

26 June 2019

News/Money Laundering

Regulators and politicians respond to Facebook's crypto plans

Regulators, politicians and other crypto players have all responded to yesterday's unveiling of Facebook's Libra project and suggested that the social media giant's digital currency plans may face several challenges.

19 June 2019