Money Laundering

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Cryptocurrency exchange Binance picks Refinitiv for KYC automation

Refinitiv, formerly the Financial & Risk business division of Thomson Reuters, will provide an automated Know Your Customer (KYC) application to Binance, the world’s largest cryptocurrency exchange by adjusted trade volume.

/regulation

Acuris Risk Intelligence and FinScan form AML alliance

Acuris Risk Intelligence, an independent provider of data intelligence for Anti-money Laundering (AML), Anti-Corruption and Cyber Security; and FinScan, a global leader in AML compliance solutions, have joined forces to deliver an integrated platform for seamless and efficient watch list screening and customer due diligence.

/regulation

Encompass adds global biometric identity verification to KYC platform

encompass corporation (“encompass”), a fast-growing global provider of intelligently automated Know Your Customer (KYC) solutions, is pleased to announce that it now offers global biometric identify verification (IDV) and document authentication on its platform.

/Money Laundering

UOB collaborates with Intel on AML analytics project

United Overseas Bank (UOB) today announced it has collaborated with Intel to successfully test how federated advanced data analytics can enhance cross-border anti-money laundering (AML) efforts.

/Money Laundering

Fenergo expands into private banking and wealth management

Fenergo, the leading provider of Client Lifecycle Management solutions (CLM) and services for financial institutions, has announced its expansion into Private Banking and Wealth Management, with the creation of a new division lead by Steve D’Souza.

Cyprus embarks on new era of blockchain technology

/Money Laundering

Cyprus embarks on new era of blockchain technology

Invest Cyprus, the country’s national investment partner, has signed an MoU with public blockchain service creator VeChain Foundation and blockchain project strategy advisory Cream to introduce DLT in Cyprus.

/regulation

Natixis to deploy Fenergo CLM

Fenergo, the leading provider of Client Lifecycle Management (CLM) software solutions for financial institutions, will deploy its flagship platform, Fenergo CLM, across Natixis’ Corporate and Investment Banking division globally.

/regulation

Lebanon's FNB to run KYC checks with Fico AML kit

First National Bank (FNB) of Lebanon has migrated to the FICO® TONBELLER® Siron® Anti Financial Crimes Suite to take a more holistic, integrated approach to compliance with AML/CTF (anti-money laundering/counter-terrorism financing), KYC (know your customer) and tax regulations.

/Money Laundering

OCC fines Capital One $100 million for AML deficiencies

The Office of the Comptroller of the Currency (OCC) recently assessed a $100 million civil money penalty against Capital One, N.A., and Capital One Bank (USA), N.A. for deficiencies in the bank’s Bank Secrecy Act/Anti-Money Laundering program.

/regulation

Amphora integrates with Symphony via CubeLogic

Amphora, a leading vendor of multi commodity trading and risk management solutions to streamline operations, reduce transaction costs and manage financial and physical transactions and CubeLogic, a leader in business intelligence (BI) enabled risk management, workflow and reporting solutions, announce a certified native integration between Amphora’s Symphony CTRM and the CubeLogic RiskCubed platform.

/security

ClearBank selects Featurespace for real-time fraud detection

Featurespace, the world’s leading provider of Adaptive Behavioural Analytics for fraud detection and risk management, announced that ClearBank, the U.K.'s first new clearing bank in more than 250 years, has selected its ARIC™ platform to provide clients using its clearing and banking services with an innovative approach to fraud and AML detection.

/regulation

Hummingbird raises $3m for AML platform

Hummingbird, the modern platform for anti-money laundering (AML), announced that it has raised $3 million in a funding round led by Homebrew, with investments from Omidyar Network, TTV Capital, and Designer Fund. Hummingbird brings agility, intelligence, and breadth to the AML practice for banks, payments companies, and other financial institutions.

/regulation

Financial Action Task Force sets out recommendations on virtual asset regulation

Virtual assets and related financial services have the potential to spur financial innovation and efficiency and improve financial inclusion, but they also create new opportunities for criminals and terrorists to launder their proceeds or finance their illicit activities.

/regulation

CGI upgrades HotScan anti-financial crime package

CGI (TSX: GIB.A) (NYSE: GIB) is pleased to announce the launch of CGI HotScan360—an enhanced version of its industry-leading HotScan solution.

/ai

Socure and Alloy help Radius Bank slash online fraud

Socure and Alloy today officially announced a partnership that enables financial institutions to make real-time digital identity verification decisions with unprecedented speed and accuracy for onboarding new customers.

/regulation

Binance tackles cryptocurrency money laundering with Chainalysis

Chainalysis, the leading provider of cryptocurrency compliance and investigation solutions, has completed a global roll-out of its compliance solution with Binance, the world’s largest cryptocurrency exchange by trade volume, to help address the challenges at the intersection of cryptocurrencies, regulators and traditional financial institutions.

/regulation

BAE Systems improves AML screening algorithm

BAE Systems today launches Match Exclusion, a new algorithm engine within its flagship NetReveal Transaction Filtering solution, a major update to the capabilities of its Anti-Money Laundering (AML) and Watch List Management (WLM) solutions.

/Money Laundering

IdentityMind ports digital ID platform to Oracle Cloud

IdentityMind Global™, Digital Identities You Can Trust, today announced that it has selected Oracle Cloud Infrastructure to host its award-winning Version 2.0, SaaS-based, trusted digital identities platform for compliance, risk management and fraud prevention.

/Money Laundering

LexisNexis joins forces with iMeta to reduce financial crime risks

LexisNexis Risk Solutions, a part of RELX Group (LSE:REL/NYSE: RELX), today announced an alliance with iMeta Technologies, a leader in Client Lifecycle Management (CLM) technology for financial organisations, to integrate iMeta’s CLM technology with LexisNexis Risk Solutions’ data capabilities.

/Money Laundering

EverCompliant releases KYC gap discovery tool

EverCompliant, the payments industry leader in online Anti-Money Laundering specializing in business cyber intelligence, announced today the launch of eKYC Discovery, a tool that addresses potential gaps in the Bank Secrecy Act and Anti-Money Laundering-mandated Know Your Customer (KYC) processes that could leave financial institutions exposed to criminal activity.

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