Money Laundering

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PwC acquires KYC tool from FSCom

/Money Laundering

PwC acquires KYC tool from FSCom

PwC is bolstering its regulatory compliance business with the acquisition of anti-money laundering and sanctions screening tool KYC-Pro from Irish consultancy FSCom.

/payments

Onfido scores ID verification contract with Remitly

Identity verification specialist Onfido today announces that it has partnered with leading global remittance platform, Remitly.

Danish watchdog could face EU inquiry over Danske Bank scandal

/Money Laundering

Danish watchdog could face EU inquiry over Danske Bank scandal

Denmark's Financial Services Authority (FSA) is bracing itself for a formal enquiry from the European Banking Authority over the money laundering scandal at Danske bank that was reported last week.

Banks bid to transform commodities trade finance with new blockchain platform

/Money Laundering

Banks bid to transform commodities trade finance with new blockchain platform

Some of the world's biggest banks, including Citi, MUFG and Societe Generale, have joined forces on a venture bidding to digitalise the trade and commodities finance sector through a blockchain-based open platform.

MPs urge UK government to regulate 'Wild West' crypto-asset market

/Money Laundering

MPs urge UK government to regulate 'Wild West' crypto-asset market

The UK government should take action to regulate the "Wild West" crypto-assets market, says a group of senior MPs, arguing that with proportionate oversight the country could become a global centre for the fast-growing sector.

Danske Bank boss quits over money laundering scandal

/Money Laundering

Danske Bank boss quits over money laundering scandal

The CEO of Danske Bank, Thomas Borgen, is to step down following allegations that the Danish bank laundered billions of mostly Russian cash through its Estonian branch.

/Money Laundering

Banks turn to tech innovation as global regulation continues to increase KYC complexity

The annual Accuity Financial Counterparty KYC Survey has revealed that 75 percent of senior compliance and correspondent banking professionals have encountered added complexity in interpreting and adhering to local legislation.

/Money Laundering

Bank of Ayudhya picks Nice Actimize for AML compliance

Nice Actimize, a Nice business and the leader in Autonomous Financial Crime Management, has been chosen by Bank of Ayudhya/Krungsri, Thailand’s fifth largest financial institution, to transform its anti-money laundering compliance and case management platform.

EBA given sweeping new powers to tackle money laundering abuses at EU banks

/Money Laundering

EBA given sweeping new powers to tackle money laundering abuses at EU banks

The European Commission is proposing to hand the European Banking Authority sweeping new powers to crack down on money laundering following a spate of scandals at a number of major banks.

/Money Laundering

Bank of China US branches switch on Fenergo client lifecycle platform

Fenergo, the leading provider of Client Lifecycle Management solutions for financial institutions, announced today that the BoC US Branches, subsidiaries of the 4th largest bank in the world, have gone live on its Client Lifecycle Management platform,

/Money Laundering

Volopa picks Onfido for KYC onboarding

Leading identity verification provider Onfido and payments and foreign exchange fintech Volopa today announce that they have partnered to deliver secure and scalable KYC capabilities.

/Money Laundering

PIMFA and FCI launch intelligence sharing platform to tackle financial crime

In response to the evolving threat and cost of financial crime PIMFA, the UK’s leading wealth management and financial advice association and Financial Crime Intelligence Ltd have launched the ground breaking PIMFA-AECIS intelligence sharing platform.

UK and EU banks plan early warning systems

/Money Laundering

UK and EU banks plan early warning systems

Both UK and European banks are separately looking at projects to design an early warning system using market data to mitigate the threat of major misconduct or the beginning of the next financial crisis.

UOB adopts machine learning tools to combat financial crime

/Money Laundering

UOB adopts machine learning tools to combat financial crime

United Overseas Bank is to apply machine learning technology from local RegTech startup and accelerator graduate Tookitaki across its entire anti-money laundering framework following a successful six-month pilot trial.

/Money Laundering

Archax partners with Custom House for KYC & AML checks

Archax, the upcoming institutional-grade crypto exchange, today announced that it has partnered with Custom House Global Fund Services to perform Know Your Customer (KYC) and Anti Money Laundering (AML) checks on firms and professional investors wishing to join and trade on the Archax exchange.

HSBC joins $20m funding round for financial crime specialist Quantexa

/Money Laundering

HSBC joins $20m funding round for financial crime specialist Quantexa

Big data and enterprise intelligence outfit Quantexa has raised $20 million in a Series B funding round led by Dawn Capital and backed by HSBC and Albion Capital.

/Money Laundering

Financial crime prevention veterans join Arachnys advisory board

Arachnys, the leader in Customer Risk Intelligence solutions for Know Your Customer (KYC), Anti Money Laundering (AML) and Due Diligence (DD), is pleased to announce that four industry luminaries become an active part of company’s growth strategy.

Revolut slashes fraud with disposable virtual cards

/Money Laundering

Revolut slashes fraud with disposable virtual cards

Digital banking startup Revolut is hailing its recent introduction of disposable virtual cards for online purchases, claiming a 30% reduction in card fraud cases.

/Money Laundering

Trulioo extends into the Philippines

Trulioo, the leading global identity verification company, today announced that it now offers instant identity verification of consumers in the Philippines through its GlobalGateway platform.

Crooks use mobile games to launder money from stolen credit cards

/Money Laundering

Crooks use mobile games to launder money from stolen credit cards

Cybercrooks are buying and selling in-game currency from mobile games such as Clash of Clans to launder money from stolen credit cards, according to security firm Kromtech Security

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