Latest Reporting/compliance News: Finextra Research

US Treasury proposes crypto mixer-crackdown to end anonymous transactions

The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has proposed a new rule that will increase transparency around crypto mixer transactions.

20 October 2023

News/security

FCA fines Equifax £11m for major consumer data breach

The Financial Conduct Authority (FCA) has fined Equifax over £11 million for failing to protect their customers from a data breach outsourced to its US parent company.

13 October 2023

Environmental frameworks shaping a decade of change for sustainable finance

Long read/Reporting/compliance

Paige McNamee Senior Reporter at Finextra

Environmental frameworks shaping a decade of change for sustainable finance

10 October 2023

Research/Reporting/complianceFuture of Report

The Future of ESGTech 2024

10 October 2023 432 downloads

Company update/sustainable

Climate finance startup, Pyrpose, launches beta platform

Pyrpose, the breakthrough climate finance platform which connects climate conscious consumers directly with climate innovators to reduce future carbon emissions, has opened to the public, readying for the launch of its MVP early next year.

06 October 2023

Company update/regulation

ICO issues enforcement notice to Snap Inc over AI chatbot failings

The Information Commissioner’s Office (ICO) has issued Snap, Inc and Snap Group Limited (Snap) with a preliminary enforcement notice over potential failure to properly assess the privacy risks posed by Snap’s generative AI chatbot ‘My AI’.

06 October 2023

News/retail

Will Metro Bank be 2023’s next banking collapse?

Metro Bank has had a rough week. News that the UK challenger bank was planning to raise up to £600 million from investors, prompted financial watchdogs to summon the bank’s bosses for a sit-down.

06 October 2023

News/sustainable

SEB draws attention to carbon removal market and nature-related risk

Sustainable finance is a swiftly growing industry, with new innovations arising rapidly from all over the world. In conversation with an author of SEB’s Green Bond Report, Finextra considered the latest advancements in the sustainability sector leading up to our annual Sustainable Finance Live conference.

06 October 2023

News/inclusion

FCA calls for era of “new enlightenment” for financial inclusion

At the Scottish Financial Enterprise: Extending Financial Inclusion event in Glasgow this afternoon, CEO of the Financial Conduct Authority (FCA) Nikhil Rathi delivered a speech on how the regulator plans to implement policies to include the financially excluded in the current cost of living crisis, calling it “a new enlightenment” for financial inclusion.

29 September 2023

News/devops

Fujitsu trials gen-AI for Japanese banks

Japanese technology giant Fujitsu is to conduct trials into the use of generative AI (gen-AI) for banking operations.

22 September 2023

News/regulation

NAB fined $1.4 million for unlawful fees

National Australia Bank (NAB) has been fined $1.4 million ($2.1 million AUD) by the Australian Federal Court for charging customers periodic payments fees without a right to do so.

22 September 2023

Company update/crime

GoTyme Bank completes integration of NICE Actimize fincrime solution

NICE Actimize, a NICE (Nasdaq: NICE) business, announced that it has finalized the implementation of its financial crime solutions with GoTyme Bank, a partnership between the Gokongwei Group and Singapore-based digital banking group Tyme. The implementation supports GoTyme’s recently launched cloud-only bank that combines easy account opening with a personalized debit card released through kiosks located in shopping malls throughout the Philippines. NICE Actimize’s advanced AI and analytics solutions will provide support in financial crime fraud prevention, which aligns with the bank’s customer service and growth strategy.

22 September 2023

Company update/regulation

Investment Metrics launches liability reporting

Investment Metrics, a Confluence company, the leading global provider of investment analytics, reporting, and data solutions, today announced the availability of liability reporting in its Portfolio Analytics and Reporting (PARis) solution.

22 September 2023

Company update/regulation

BDO strikes carbon SaaS deal in Indonesia

BDO in Indonesia, a member of BDO International Limited, one of the world’s largest accounting, tax, and advisory firms, announced a commercial partnership with MVGX Tech, a leading Carbon Software-as-a-Service (Saas) company that aims to empower corporations, governments, and institutions to take action at every stage of their decarbonisation journeys.

22 September 2023

Company update/security

Silverbird adopts Resistant AI's KYC solution for onboarding

Resistant AI, the AI- and machine learning-powered financial crime prevention specialists, today announces that Silverbird, the digital alternative to traditional banking making business payments borderless, limitless and affordable for international merchants, has adopted Resistant AI’s Document Forensics to secure its customer onboarding process.

21 September 2023

News/retail

Watchdog reprimands Deutsche Bank for “unacceptable” Postbank problems

Deutsche Bank has been reprimanded by German watchdog Bafin for faulty operations and disruption of services in its Postbank unit.

20 September 2023

News/regulation

Revolut misses annual accounts deadline for second year running

Revolut will delay filing its 2022 accounts for a second consecutive year, according to Reuters.

20 September 2023

News/crime

FTX sues Bankman-Fried’s parents over misappropriated funds

The FTX legal saga continues to play out as parents of the company’s founder, Sam Bankman-Fried, have been sued by the FTX parent company Alameda Research, for improperly receiving millions of dollars from the scheme.

20 September 2023

News/sustainable

Greenomy joins Swift partner programme

ESG reporting software provider, Greenomy, has announced its collaboration with Swift to provide ESG data and reporting capabilities to the Swift community.

19 September 2023

Company update/security

First AML launches new AML platform, Source

First AML, the global AML scaleup, today announced the launch of its new self-service platform, Source, designed to revolutionise anti-money laundering workflows for compliance professionals and teams. The new platform offers an unrivalled choice for organisations with complex or multinational onboarding requirements, delivering streamlined collaboration and ensuring AML consistency.

19 September 2023