449 articles tagged with this keyword
News/regulation
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
News/crypto
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
News/Money Laundering
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
Singapore-based, AI-powered regtech startup Tookitaki has topped up its Series A funding round to a total of US$19.2 million.
25 November 2019
Westpac could face unprecedented civil penalties, having been accused of contravening AML/CTF laws on over 23 million occasions by Australia’s anti money-laundering and terrorism financing regulator, Austrac.
20 November 2019
PayPal has joined a $4.2 million funding round for cryptocurrency compliance and risk management platform TRM Labs.
19 November 2019
A Russian man accused of running a website selling stolen payment card details has been extradited from Israel to the US.
15 November 2019
Standard Chartered’s innovation, fintech and ventures unit, SC Ventures, has participated in a Series A funding round for regtech Silent Eight.
14 November 2019
80% of financial institutions will become irrelevant by 2030 due to their inability to compete with digitally-savvy rivals, according to research by Gartner.
13 November 2019
In a roundtable discussion held Wednesday in London hosted by digital payments firm PPRO, industry leaders met to explore the impact PSD2 has imposed on key players in Open Banking and the changes needed to achieve the regulation’s objective in 2020 and beyond.
06 November 2019
The trial of crypto scam OneCoin's lawyer has renewed calls for robust regulation of cryptocurrency to address weaknesses of "human failure and human criminality".
Issuing a draft Guidance Paper last week, the Financial Action Task Force (FATF) urges financial institutions to ready themselves for the impending global expansion of digital identification systems.
04 November 2019
The European Union’s Sixth Anti-Money Laundering Directive (6AMLD) is due to take effect on 3rd December 2020 and brings with it a suite of substantial penalties for non-compliance. Here’s what you need to be aware of in the run up to the fast-approaching deadline.
25 October 2019
Global stablecoins, such as Facebook's Libra, pose risks to financial stability, anti-money laundering efforts, anti-trust policy, and even monetary sovereignty, a new G7 working group has warned.
18 October 2019
Financial institutions are focusing heavily on digital transformation driving innovation, better customer experience and cost reduction as they shift gears from simply meeting regulatory and compliance needs to remain relevant in a digital world.
20 September 2019
Five of the biggest banks in the Netherlands are looking into the creation of a joint body to monitor payment transactions and fight money laundering.
18 September 2019
News/security
Joining day two of the World Conference of Banking Institutes, Ian Dyson - Commissioner of the City of London Police addresses the challenges of cyber-crime in this period of digital disruption. In addition to the uncertainty surrounding Brexit and the potential no-deal outcome, the question of balancing privacy with data protection remains a critical priority for financial institutions in 2019.
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