Money Laundering

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EBA goes to tender for crypto and blockchain data management platform

/crypto

EBA goes to tender for crypto and blockchain data management platform

The European Banking Authority has put out a call for tender for blockchain analytics services and crypto-assets market data.

/regulation

Danske Bank fined €1,820,000 by Central bank of Ireland for multi-year AML deficiencies

On 13 September 2022, the Central Bank of Ireland (the Central Bank) reprimanded and fined Danske Bank A/S, trading in Ireland as Danske Bank, €1,820,000 pursuant to its Administrative Sanctions Procedure for three breaches of the Criminal Justice (Money Laundering & Terrorist Financing) Act 2010, as amended (the CJA).

/regulation

St. James's Place adopts Napier screening tech

Napier, provider of advanced financial crime compliance solutions, has partnered with one of UK’s top wealth management and financial planning specialists, St. James’s Place.

Revolut under pressure over internal audit

/regulation

Revolut under pressure over internal audit

Online bank Revolut is facing more questions over its internal controls after it was criticised by a UK regulator for the unacceptably high risk of "material misstatement" in its account auditing.

/crime

Diebold Nixdorf and Hawk AI collaborate for AMLsurveillance

Hawk AI, Germany’s leading software provider of anti-money laundering surveillance and anti-fraud technology for banks, payment firms, and fintech’s, today announced a new partnership with Diebold Nixdorf (NYSE: DBD), a global leader in driving connected commerce for the financial and retail industries.

Wise fined by Abu Dhabi watchdog over AML failings

/regulation

Wise fined by Abu Dhabi watchdog over AML failings

Money transfer firm Wise has been slapped with a $360,000 fine by Abud Dhabi's financial regulator for contravening anti-money laundering rules.

/startups

Dutch AML startup Sygno joins FIS accelerator

Sygno today announced that it has been selected to participate in the seventh FIS Fintech Accelerator program, in partnership with The Venture Center.

Abu Dhabi establishes crypto committee

/crypto

Abu Dhabi establishes crypto committee

Abu Dhabi has announced the formation of a government body to develop its strategy for regulating and promoting the world of virtual assets.

/crime

SEB establishes new financial crime intelligence unti

SEB is recruiting Nicklas Lundh, from the Swedish Police, and Ravi Shankar Sharma, Head of Intelligence Development, Investigations and Analytics at Nordea, to jointly lead a new Financial Intelligence unit within SEB's Financial Crime Prevention unit (FCP).

/regulation

Arf secures Swiss regulatory approval

Arf, the global settlement banking platform for licensed money service businesses, announces that it has been granted the approval of the Financial Services Standard Association (VQF) through Arf’s entity in Zug, Switzerland.

/crime

US Treasury sanctions Tornado Cash

Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned virtual currency mixer Tornado Cash, which has been used to launder more than $7 billion worth of virtual currency since its creation in 2019.

CBDCs could be 'holy grail' of cross-border payments - ECB

/payments

CBDCs could be 'holy grail' of cross-border payments - ECB

Central Bank Digital Currencies (CBDCs) could be the answer to the thousand-year search for the holy grail of cross-border payments, according to a new paper from the ECB.

/regulation

SmartKYC introduces smartLists

Financial crime teams have long struggled with seamlessly integrating their internal watchlist data into their due diligence work.

Robinhood Crypto hammered by New York watchdog over litany of compliance failures

/regulation

Robinhood Crypto hammered by New York watchdog over litany of compliance failures

Robinhood's crypto unit (RHC) has been slapped with a $30 million fine by New York State Department of Financial Services for "significant" anti-money laundering, cybersecurity and consumer protection violations.

/regulation

Lerex Technology signs with ID-Pal

ID-Pal, the identity verification provider, has been appointed by Lerex Technology, the payment solution provider, to help with its growing identity verification, e-verification, Anti-Money Laundering (AML) and Know your Customer (KYC) requirements.

/crime

45% of firms failing to detect criminal 'ghosts'

Almost half (45 per cent) of finance and banking firms are failing to carry out crucial “ghost-buster” checks on new business clients, newly released data shows.

/regulation

Ondato launches automated AML risk scoring

Ondato, a technology company that streamlines KYC (Know Your Customer) and AML (Anti-Money Laundering) processes, today announces the launch of Ondato Risk Scoring, an automated tool for companies to identify and manage customer-associated risk better and faster during onboarding.

Dutch Central Bank fines Binance EUR3.3m

/crypto

Dutch Central Bank fines Binance EUR3.3m

The Dutch central bank has fined cryptocurrency exchange Binance EUR3.325 million for offering it services in the Netherlands without registration.

/regulation

SymphonyAI to buy BAE Systems' AML unit

SymphonyAI, a leader in high-value enterprise AI SaaS for strategic industries, announced today it is acquiring financial crime detection leader NetReveal from BAE Systems. This acquisition marks a significant step in SymphonyAI’s expansion strategy within the financial vertical.

/regulation

Recognise Bank speeds customer onboarding with TruNarrative

Recognise Bank, the fintech powered business lender and savings provider, has partnered with TruNarrative, a LexisNexis Risk Solutions company, to completely transform the onboarding process for its SME business lending customers.

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