Money Laundering

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Piie to implement ThetaRay AML tech for insurance payments

ThetaRay, a leading provider of AI-powered transaction monitoring technology, and Piie, Inc., an insurtech providing an intelligent payment engine, today announced a collaboration to implement an advanced AML solution for insurance claim payments.

/people

Themis appoints Matthew Hurn chairman

Matthew Hurn OBE has been appointed as Chairman of award-winning digital financial crime platform Themis.

/crime

Bank of Nevis adopts Tookitaki AML kit

Bank of Nevis International Ltd. (BONI), a leading provider of holistic wealth management and portfolio management services for clients from around the world, has partnered with Singapore-based Tookitaki to become the first Caribbean bank to launch the tech firm’s award-winning Anti-Money Laundering Suite (AMLS).

Central Bank of Ireland warns payment firms about governance deficiencies

/regulation

Central Bank of Ireland warns payment firms about governance deficiencies

Ireland's central bank has fired a shot across the bows of payment and e-money firms after finding "significant deficiencies" in the governance, risk management and control frameworks of some in the sector.

Dutch central bank fines Coinbase €3.3m

/regulation

Dutch central bank fines Coinbase €3.3m

Coinbase has been fined €3.33 million for providing crypto services in the Netherlands without securing registration with the country's central bank.

Regtech Salv raises €4m

/crime

Regtech Salv raises €4m

Salv, a regtech startup startup founded by a gaggle of former Wise and Skype staffers, has raised €4 million in a seed round extension led by ffVC and joined by G+D Ventures.

Sandbar raises $4.8m for transaction monitoring software

/startups

Sandbar raises $4.8m for transaction monitoring software

New York City-based fintech startup Sandbar has launched its anti-money laundering, fraud and counter-terrorism risk detection software off the back of a $4.8 million seed round.

/identity

Pismo turns to Sumsub for ID verification

Managing compliance risks can feel intimidating, especially because identity crime and fraud attempts jumped by 36% in 2021 relative to 2020, according to the Identity Theft Resource Center.

/crime

Themis closes Pre-Series A funding round at £3.1 million

Award-winning digital financial crime platform Themis announces today that it has successfully overfunded in its latest Pre-Series A funding round, raising a total of £3.1m.

US arrests crypto exchange founder

/crypto

US arrests crypto exchange founder

US authorities have charged the Russian founder of Hong Kong-based crypto exchange Bitzlato, which it says was used to launder hundreds of millions of dollars in criminal proceeds from the darknet.

/Money Laundering

Thirdfort bolsters c-suite

Thirdfort, a risk management platform combining Know Your Client (KYC), Anti-Money Laundering (AML) and Source-of-Funds (SoF) verification, has strengthened its leadership team with three c-suite appointments.

/people

Zimpler namess Jonathan Hjelmåker as head of operations

Zimpler, a leading fintech company born in Sweden appoints Jonathan Hjelmåker as Head of Operations and expands its ambition to deliver the best possible customer experience with an ambition to be best-in-class regarding combating financial crime.

/regulation

Detected closes £2.5 million financing round

London-based fintech Detected has secured £2.5m in its financing round fundraise, including investment from Thomson Reuters Ventures, Love Ventures and powerful industry angels.

/regulation

FCA penalises Al Rayan Bank for anti-money laundering failures

The FCA has fined Al Rayan Bank PLC (Al Rayan) £4,023,600 for failing to put in place adequate anti-money laundering (AML) controls.

/crime

Divilo selects ThetaRay to monitor criminal payments

Divilo, a Spain-based fintech providing B2B financial services, and ThetaRay, a leading provider of AI-powered transaction monitoring technology, today announced they will collaborate to protect Divilo’s growing services against money laundering, sanctions violations, and other financial crimes.

/regulation

FCA fines GT Bank £7.8 million for serious AML compliance failings

The Financial Conduct Authority (FCA) has fined Guaranty Trust Bank (UK) Limited (GT Bank) £7,671,800 for serious weaknesses in its anti-money laundering (AML) systems and controls between October 2014 and July 2019.

/crime

Mizuho Bank Luxemburg upgrades anti-financial crime compliance risk management with Napier

Mizuho Trust and Banking (Luxembourg) S.A , the Luxembourg subsidiary of Japan’s Mizuho Trust & Banking division (part of Mizuho Financial Group) , is upgrading its Transaction Monitoring framework strategy through a partnership with Napier, the financial crime compliance technology specialist.

Penta co-founder raises €3 million for Swiss banking startup

/startups

Penta co-founder raises €3 million for Swiss banking startup

Relio, a Swiss SME banking startup founded by Lav Odorovic, the co-founder of German digital bank Penta, has raised €3 million.

New York regulator hits Coinbase with $50m fine

/crypto

New York regulator hits Coinbase with $50m fine

Coinbase will pay a $50 million penalty and invest another $50 million in its compliance programme to settle a New York State regulatory investigation into its anti-money laundering practices.

/security

Bank of Africa signs for NetGuardians fraud prevention tech

Award-winning Swiss FinTech NetGuardians, renowned for its enterprise risk platform for combatting financial fraud, has announced that BANK OF AFRICA, a pan-African bank present in 31 countries worldwide, 20 of them being in Africa, will use NetGuardians’ fraud prevention software to further safeguard its assets and branches in Morocco against internal and payment fraud.

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