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NatWest fined £264.8 million for anti-money laundering failures

National Westminster Bank Plc (NatWest) was today fined £264,772,619.95 following convictions for three offences of failing to comply with money laundering regulations.

/crime

Australian wealth manager, ClearView, harnesses Napier technology in fight against financial crime

Napier, provider of leading anti-financial crime compliance solutions, has announced that Australian financial services company, ClearView, has adopted its AI-enhanced technology to support anti-money laundering (AML) activities.

/crime

Raisin Bank deploys ComplyAdvantage to scale up AML programme

Raisin DS’s servicing bank, Raisin Bank AG, is teaming up with ComplyAdvantage, the leader in AI-driven financial crime risk detection, to scale its anti-money laundering (AML) program.

/crime

Elucidate opens Miami HQ office

Elucidate, the financial crime risk scoring company, has today announced its expansion into the US market with a new office in Miami, as part of the company’s mission to establish itself as the global standard for benchmarking financial crime risk.

/crime

GBG acquires Acuant

GB Group plc (AIM: GBG), the experts in digital location, identity and identity fraud software, has today announced that it has reached agreement to acquire Acuant, a leading identity verification and KYC/AML compliance provider, for a cash-free, debt-free enterprise value of $736 million. The acquisition of Acuant brings together two of the leaders in the global digital identity market with a combined revenue of c.£265 million.

/crime

Corlytics rolls out themed fincrime tracker

Corlytics has today announced the launch of their themed FinCrime tracker.

/crime

FCA reports upward spiral of suspicious activity reports from financial firms

The number of Suspicious Activity Reports (SARs) submitted by financial firms to the Financial Conduct Authority (FCA) has been steadily increasing year over year since 2017, according to official data.

/crime

FATF publishes guidance for regulation of cryptocurrency industry

The virtual asset sector is fast-moving and technologically dynamic, which means continued monitoring and engagement between the public and private sectors is necessary.

/crime

Napier names ex-HSBC COO, Andy Maguire, as its new chair

Napier, provider of advanced anti-financial crime compliance solutions, has announced that former HSBC Chief Operations Officer, Andy Maguire, is to take the helm as Board Chair for the fast-growing RegTech.

/crime

ComplyAdvantage expands AML service to North America

ComplyAdvantage, a global data technology company transforming financial crime detection, today announced the North American expansion of ComplyLaunch™ a free program for fintech startups. The program provides qualified startups with free access to the company’s award-winning AML and Know Your Customer (KYC) tools plus resources needed to uncover and reduce the threat of money-laundering activities so they can onboard new customers with lower risk and greater trust.

/crime

EBF and SAS join forces to fight financial crime

The United Nations Office on Drugs and Crime estimates that US$800 billion to $2 trillion is laundered through worldwide financial systems each year. That’s an astonishing 2-5% of global GDP.

/crime

Broadridge releases AI-powered AML package

To better serve clients and the financial services industry, Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader, today announced the launch of the Broadridge Anti-Money Laundering Solution (AMLS), bringing new, leading edge capabilities to Broadridge’s existing Intelligent Automation suite.

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