443 articles tagged with this keyword
News/regulation
ISignthis, a provider of payment verification technology to help banks meets AML reporting obligations, has lost the first round its legal battle with the Australian Securities Exchange over the suspension of its shares, after a Federal Court over-ruled its attempt to prevent the ASX from outlining the reasons for its actions.
01 May 2020
News/crime
In a report released March this year, Swedbank was found to have carried out €37 billion of high-risk payments over a five-year period.
20 April 2020
News/identity
With countries around the world in lockdown during the Covid-19 pandemic, the Financial Action Task Force (FATF) is promoting the use of digital identity technology to securely enable remote financial services onboarding and transactions.
02 April 2020
Swedbank's board and management have been savaged in a report from law firm Clifford Chance over serious money laundering failings between 2014 and 2019.
23 March 2020
Francesca Hopwood Road, head of regtech at the FCA drilled down on how the hiring process structurally worked against the employment of females in regtech during the Regtech Women’s event ‘Cracking Communications: Be effective, be confident, be compliant’.
12 March 2020
The true benefits and complexities of transformative regulation across financial services is set to become reality in 2020, as firms work to prepare and implement systems to meet compliance standards while maintaining a competitive edge.
06 March 2020
News/Money Laundering
The number of suspicious transaction and order reports (STORs) recorded by the UK's Financial Conduct Authority (FCA) has reduced for the first time since records began in 2016
28 February 2020
Two defence agencies in Austria and France are joining forces to improve cryptocurrency security and tackle the rising rate of crime in the crypto market.
In its annual Sector Views report, the UK's Financial Conduct Authority warns of the growing risks to consumers in the retail banking and payments sector, as regulatory protection struggles to keep pace with technology-driven innovation and incumbents grapple with legacy limitations.
19 February 2020
News/payments
Almost doubling the $40 trillion transferred in 2018, Swift’s transmission of $77 trillion in cross-border payments messages over the gpi platform during 2019 implies that demand for the programme is becoming entrenched in the bank-to-bank space.
18 February 2020
News/crypto
Wells Fargo has invested $5 million in Elliptic, a London-based cryptocurrency surveillance technology provider.
13 February 2020
ABN Amro has joined an $80 million funding round for Fenergo which values the Dublin-based fintech firm at about $800 million.
12 February 2020
Financial services firms have been hit with a total of $36 billion in fines since the financial crisis for non-compliance with anti-money laundering, know your customer and sanctions regulations around the world.
29 January 2020
A record number of AML-related fines were issued globally in 2019, totalling £6.2 billion in financial penalties at an average of $145.33 million per fine.
20 January 2020
Indian banks and fintech startups have been given the go-ahead to use video calls to complete KYC compliance checks, following a ruling by the country's central bank.
10 January 2020
In the latest shot across the bow of Facebook's Libra project, European authorities are warning that no global stablecoin systems will be allowed to operate in the EU until legal, regulatory and oversight issues have been addressed.
06 December 2019
Salv, an anti-money laundering (AML) startup founded by a gaggle of former TransferWise staffers, has raised $2 million in a seed round led by Fly Ventures.
03 December 2019
Bó, NatWest's new app-based bank has been actively targeted by fraudsters within weeks of its public launch.
28 November 2019
Westpac has hired IBM subsidiary Promontory to undertake an independent review into the failings that led to the bank breaching AML/CTF laws on over 23 million occasions.
Westpac CEO Brian Hartzer has resigned and chairman Lindsay Maxsted has announced his early retirement in the wake of a money laundering scandal that is threatening to engulf the Australian bank.
26 November 2019
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