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Latest Results from /crime

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UK condemned as a shameful safe haven for Moscow's gold

The UK's parliamentary Foreign Affairs Committtee has blasted Britain's status as a safe haven for dirty money as a "stain on our reputation", and called on the Government to bring forward legislation that would stop the flow of illicit cash through London.

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EBAday 2022: Balancing smooth onboarding with sanctions screening

During her fireside chat on day two of EBAday, Sabine Zucker, head of trade finance and transaction banking, Raiffeisen Bank International addressed a range of factors influencing the connection between banks and corporates.

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Regulators seek legal ground for revoking licences of firms who breach AML rules

European regulators are pushing for new laws that would give them the power to revoke licences for firms in serious breaches of anti-money laundering rules.

/crime

Ray-Ban manufacturer sues JPMorgan over $272 million cyber theft

The French manufacturer of Ray-Ban glasses is suing JPMorgan for failing to stop suspicious transactions after cybercriminals looted $272 million from its New York account.

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Signicat acquires UK RegTech Sphonic

Norway's Signicat has acquired UK-based anti-fraud and identity technology company Sphonic for an undisclosed sum.

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Thunes acquires majority stake in AML firm Tookitaki

Singapore-based cross-border payments firm Thunes has paid $20 million for a majority stake in local anti-money laundering and compliance technology company, Tookitaki.

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Seon raises $94 million to help fintechs meet sanctions obligations

Anglo-Hungarian fraud prevention startup Seon has raised $94 million to expand across the US, Latin America and Asia Pacific and to develop tools to help firms meet sanctions obligations.

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Joe Lycett provides evidence to House of Lords fraud committee

The House of Lords Committee on the Fraud Act 2006 and Digital Fraud heard evidence this week from comedian Joe Lycett and Rumpus Media producer Michelle Cox, who produces a number of fraud related TV programmes, including Lycett’s Got Your Back.

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EU lawmakers back tougher crypto AML rules

European Parliament members have voted to outlaw anonymous cryptocurrency transactions as part of an EU anti-money laundering package.

/crime

Millions of Brits risking fraud by ignoring Confirmation of Payee warnings

Millions of Brits are putting themselves at risk by ignoring warnings that bank account details do not match when making a transfer, according to research from Lloyds Bank.

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HSBC Ventures joins investment round in Silent Eight

AI-based financial crime compliance outfit Silent Eight has closed a $40m Series B funding round, which welcomed HSBC Ventures, the firm’s latest customer, as an investor.

/crime

Estonian AML pilot shows what’s possible when tackling FinCrime

An AML pilot which saw ten Estonian banks take part in a country-wide initiative to tackle financial crime has been lauded as a success by participating banks, preventing up to €3 million from reaching criminal-controlled accounts.