Money Laundering

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/Money Laundering

MAS fines Standard Chartered over AML failings

The Monetary Authority of Singapore (MAS) announced today that it has imposed penalties of S$5.2 million on Standard Chartered Bank, Singapore Branch (SCBS) and S$1.2 million on Standard Chartered Trust (Singapore) Limited (SCTS).

/Money Laundering

FATF inspects UK money laundering defences

The international community’s anti-money laundering watchdog is on UK soil putting the country through its paces, specialist Anti-Money Laundering and Big Data firm Fortytwo Data can reveal today.

/Money Laundering

Know Your Customer wins Credit Agricole startup challenge

Smart technology client verification solution provider Know Your Customer has won the Fintech Startup Challenge (Dublin), hosted by Le Village, a Crédit Agricole accelerator programme.

/Money Laundering

Isabel Group and norbloc bring blockchain KYC initiative to pilot

Last year, B-Hive, a European innovative collaboration platform connecting fintech startups and established financial service organizations, announced the launch of TrustHive.

/Money Laundering

AmEx Ventures invests in EverCompliant

EverCompliant, the pioneer of Electronic Money Laundering Detection and Prevention (also known as Transaction Laundering), announced a strategic investment from American Express Ventures, which joins existing investors Arbor Ventures, Carmel Ventures, StarFarm Ventures and Nyca Partners.

UK could scrap 1p and 2p coins

/Money Laundering

UK could scrap 1p and 2p coins

With Brits increasingly turning to electronic payments, the UK government has raised the possibility of ditching 1p and 2p coins and even £50 notes.

/Money Laundering

First Abu Dhabi Bank chooses Accuity for global sanctions screening

Accuity, the leading global provider of risk and compliance, payments and know your customer solutions has been selected by First Abu Dhabi Bank (FAB) to provide integrated global sanctions screening and data.

/Money Laundering

CBA sets limits on deposits at ATMs to curb money laundering

Commonwealth Bank is introducing daily account-based deposit limits at our deposit ATMs as a further measure in our ongoing management of money laundering risks.

US judge says cryptocurrencies are commodities

/Money Laundering

US judge says cryptocurrencies are commodities

US lawmakers continue to wrestle with how to approach cryptocurrencies, as a federal judge says the likes of bitcoin can be treated as commodities by the CFTC, FinCEN says money transmitter rules apply to ICOs, and Wyoming's state legislature clears a bill exempting some crypto assets from securities laws.

/Money Laundering

IDnow launches KYC system for crypto providers

Crypto platforms and token sales (ICOs) increasingly have to conform to AML-legislations.

/Money Laundering

Quantexa and Arachnys combine big data and robotic automation in fight against financial crime

Big-data specialist Quantexa is partnering with compliance robotic automation leader Arachnys in the fight against financial crime.

/Money Laundering

Leumi ABL selects encompass confirm for KYC

The specialist asset based lending subsidiary of Bank Leumi (UK) plc, part of the Bank Leumi Group, has selected encompass confirm to support and enhance their Know Your Customer (KYC) compliance processes.

DNB tests mobile passporting for international clients

/Money Laundering

DNB tests mobile passporting for international clients

DNB is experimenting with a mobile app that scans user passports and faces to identify customers from across borders for ID verification and digital onboarding.

/Money Laundering

LHV selects Fico to combat money laundering

LHV, the largest domestic financial group in Estonia, will use the FICO® TONBELLER Siron Anti Financial Crimes Solutions to fight money laundering and comply with a host of European financial regulations.

/Money Laundering

Lemon Way selects Accuity to streamline financial crime compliance

Accuity, the leading provider of financial crime compliance, payments and counterparty know-your-customer (KYC) solutions, has embarked on a project to help payment solutions company, Lemon Way, to more efficiently identify financial crime and flag potentially high-risk customers.

/Money Laundering

CBA fights back against fresh Austrac allegations

Commonwealth Bank of Australia (ASX: CBA) today lodged with the Federal Court of Australia its response to the amended statement of claim filed by AUSTRAC on 14 December 2017 and its defence to the shareholder class action commenced by Zonia Holdings Pty Ltd on 9 October 2017.

/Money Laundering

Nice Actimize applies AI in fight against financial crime

Financial services organizations and their compliance programs face the hard realities of meeting regulatory requirements around detecting and reporting anti-money laundering schemes, while managing the cost of compliance.

/Money Laundering

Ireland's KYC to open office in Hong Kong

Invitation to join SuperCharger’s accelerator programme in March is game-changer for digital on-boarding solutions start-up KYC.

Swiss watchdog tweaks digital onboarding rules

/Money Laundering

Swiss watchdog tweaks digital onboarding rules

Swiss financial markets regulator Finma has updated its rules for digital client onboarding to reflect advances in technology such as the ability to authenticate a user with a "selfie with liveness detection".

/Money Laundering

IHS Markit adds financial crime screening to due diligence suite

IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, today announced that KY3P®, its vendor risk management service, added financial crimes screening to its comprehensive due diligence tools

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