Money Laundering

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/payments

Blockchain payments network Zone adopts ThetaRay to screen transactions

Zone (formerly Appzone), Africa’s first regulated layer-1 blockchain network for payments, and ThetaRay, a leading provider of AI-powered transaction monitoring technology, today announced they will collaborate to implement ThetaRay’s cloud-based SONAR solution to monitor and screen Zone’s transactions in Nigeria for illicit activities and sanctions violations.

/crime

Encompass named founding member of Data and Technology for Compliance Alliance

Encompass Corporation, the provider of the leading Know Your Customer (KYC) automation platform, has been named as a founding member of the Data and Technology for Compliance (DT4C) Alliance, formed to provide a leading voice in the fight against financial crime.

/people

Amlyze hires former head of money laundering at the Bank of Lithuania

AMLYZE, a fast-developing RegTech startup that helps fintechs, crypto businesses, banks, and other regulated entities to fight against financial crime, is strengthening its team with anti-money laundering expert Eglė Kontautaitė, former Head of the Money Laundering Prevention Division at the Bank of Lithuania.

/security

Hashkey and Slowmist partner for digital assets play

HashKey Group and SlowMist are pleased to announce a strategic partnership to collaborate on digital asset ecosystem security, anti-money laundering for digital assets, cutting-edge security technology research, and other technology fields.

FCA takes aim at payment firms over 'unacceptable' risks

/regulation

FCA takes aim at payment firms over 'unacceptable' risks

The Financial Conduct Authority has written to nearly 300 payment companies warning that it will shut them down if they do not take prompt action to address "unacceptable" risks to consumers and financial system integrity.

/crime

Noda chooses ThetaRay to monitor open banking services

Noda, an open banking fintech, and ThetaRay, a leading provider of AI-powered transaction monitoring technology, today announced they will collaborate to enhance payment monitoring and compliance capabilities on Noda’s growing platform that is supporting the new digital economy in Europe.

/regulation

UK-based KYB platform Detected launches in the US

London-founded fintech Detected has announced its expansion into the US market. The company, which provides a global end to end KYB platform, has established a US entity to better serve its American clients.

Monnai raises $6.5m to help fintechs use consumer data

/startups

Monnai raises $6.5m to help fintechs use consumer data

Monnai, a provider of consumer insights infrastructure for financial institutions, has raised $6.5 million in a Series A funding round led by Tiger Global.

N26 chief risk officer quits

/people

N26 chief risk officer quits

German digital bank N26 has lost its third senior executive in a year, with chief risk officer Thomas Grosse leaving for personal reasons.

/regulation

Dubai International Financial Centre chooses Napier for client screening

Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, has chosen anti-financial crime compliance specialist Napier to upgrade the screening services they employ with Napier Client Screening.

/regulation

Mexico's Tudi signs for ThetaRay AML tech

ThetaRay, a leading provider of AI-powered transaction monitoring technology, today announced that Tudi, enabling a digital financial community through its mobile app, has chosen ThetaRay’s cloud-based AML solution to monitor its transactions in Mexico for financial crime.

/crime

Florida-based Banesco USA selects AML RightSource for money laundering checks

AML RightSource, the leading provider of Anti-Money Laundering (“AML”), Know Your Customer (“KYC”) and Bank Secrecy Act (“BSA”) compliance solutions, announced today that Florida-based bank Banesco USA has selected its Automated EDD (Enhanced Due Diligence) solution for efficient, compliant customer risk reviews with streamlined, AI processes that deliver detailed assessments and reporting.

/crime

Napier to provide AML transaction monitoring for Lyra

Financial crime compliance technology specialist Napier has announced a new partnership with Lyra Group, the €79 million turnover European and unified payment solutions provider, processing over twenty billion transactions worldwide annually.

Mizuho International picks SymphonyAI to tackle money laundering

/regulation

Mizuho International picks SymphonyAI to tackle money laundering

Mizuho International, the London-based securities and investment banking arm of Japanese giant Mizuho Financial Group, is rolling out technology from SymphonyAI to help it detect financial crime.

/crime

Icelandic neobank indó selects Lucinity for financial crime prevention

indó, an Icelandic mobile first advanced neo-bank, has selected Lucinity as its AML compliance software, including its Transaction Monitoring and Case Manager solutions.

Railsr unit faces Lithuanian investigation into money laundering failures

/regulation

Railsr unit faces Lithuanian investigation into money laundering failures

A subsidiary of embedded banking platform Railsr is being investigated by the Bank of Lithuania over concerns it has been "grossly and systematically" violating money laundering and terrorist financing laws.

Plaid rolls out identity and KYC integration in Canada

/identity

Plaid rolls out identity and KYC integration in Canada

Plaid has announced it will enable its identity verification and KYC solutions in Canada, to help users comply with Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) requirements.

Client onboarding outfit Sikoia raises $6m

/startups

Client onboarding outfit Sikoia raises $6m

Sikoia, a London-based unified data platform designed to simplify client onboarding and risk evaluation, has raised $6 million in seed funding.

/regulation

Shieldpay to consolidate real-time client KYC and AML data with Fenergo support

Fenergo, the leading provider of digital solutions for Know Your Customer (KYC) and Client Lifecycle Management (CLM), and Shieldpay, the market leading fintech solving high value, complex B2B payments, today announced their partnership.

FCA and police join forces to crack down on crypto ATMs

/regulation

FCA and police join forces to crack down on crypto ATMs

The FCA has joined forces with West Yorkshire Police to shut down illegally-operated crypto ATMs in Leeds.

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