Latest Money Laundering News: Finextra Research

Company update/crime

Refinitiv joins forces with The Sentry to prevent war criminals abusing the financial system

Refinitiv, one of the world’s largest providers of financial markets data and infrastructure, announced today its partnership with The Sentry, an investigative and policy team that seeks to prevent African war criminals and their business networks from abusing the international financial system.

21 January 2021

News/crypto

EC and ECB join forces to investigate digital euro

The European Commission and European Central Bank are working together to investigate the policy, legal and technical questions emerging from a possible introduction of a digital euro.

20 January 2021

Company update/cloud

NICE Actimize drives AML cloud transformation for Vancity

NICE Actimize, a NICE (NASDAQ: NICE) business, has been selected by Vancouver City Savings Credit Union (Vancity), a member-owned financial co-operative headquartered in British Columbia, Canada, to drive and implement its modernized, cloud-based antimoney laundering operation.

20 January 2021

News/wholesale

Citi picks Volante for global ISO 20022 migration

US banking giant Citi is enlisting Volante Technologies to accelerate its adoption of the ISO 20022 financial messaging standard across its global payments operations.

19 January 2021

News/crime

Capital One hit with $390 million fine over "egregious" AML failures

The Financial Crimes Enforcement Network (FinCEN) has enforced a $390 million civil money penalty on Capital One for engaging in both "willful and negligent" violations of the Bank Secrecy Act.

19 January 2021

News/crime

Swedish banks formalise AML information sharing pact with police

Sweden's five largest banks have formalised an information sharing pact with the country's police force aimed at cracking down on money laundering.

19 January 2021

Company update/crime

Owner of bitcoin exchange sentenced to prison for money laundering

A Bulgarian national who was convicted by a federal jury for his role in a transnational and multimillion-dollar scheme to defraud American victims was sentenced today to 121 months in prison.

13 January 2021

Company update/regulation

OCC terminates Wells Fargo AML consent order

Wells Fargo & Company (NYSE: WFC) today announced that the Office of the Comptroller of the Currency (OCC) has terminated a 2015 consent order related to the company’s Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program.

06 January 2021

Company update/regulation

Fenergo automates client onboarding for Mizuho Americas

Fenergo, the leading provider of digital transformation, customer journey and client lifecycle management (CLM) solutions for financial institutions, today announces that Mizuho Americas has deployed Fenergo’s software to automate Know Your Customer (KYC) and Anti-Money Laundering (AML) regulatory processes, digitalize workflows and accelerate client onboarding onto a single platform.

06 January 2021

Company update/crime

Credit Suisse professes "astonishment" at Swiss money laundering charges

Credit Suisse takes note with astonishment of the decision of the Office of the Attorney General of Switzerland to bring charges against the bank and other parties in an investigation that has already lasted more than twelve years.

18 December 2020

Company update/regulation

IComply updates KYC platform

iComply Investor Services (“iComply”), a global compliance software provider, is announcing that it is launching an updated version of its iComplyKYC platform for digital compliance administration that now supports the onboarding and authentication of legal entities and natural persons as a part of its all-in-one compliance solution.

16 December 2020

Company update/Money Laundering

Mansfield Building Society signs for iFinancial's AMLtrac

Mansfield Building Society have signed for iFinancial’s Anti Money Laundering Software, AMLtrac, as a cornerstone of their compliance strategy and procedures.

16 December 2020

Company update/crime

Danske Bank deploys Quantexa’s AI platform for financial crime detection

Quantexa, the data and analytics software company pioneering contextual decision intelligence, announced today its AI-based technology is supporting Danske Bank as it enhances its Anti-Money Laundering (AML) monitoring and investigation capabilities.

16 December 2020

Company update/crime

Facial recognition vendor Facepoint joins Nice Actimize X-Sight marketplace

NICE Actimize, a NICE business (Nasdaq: NICE) today announced that FACEPOINT, which launched an industry-leading biometric risk screening engine, has joined the X-Sight Marketplace, bringing its cutting-edge facial recognition technology for advanced KYC and watch list risk screening to the ecosystem.

15 December 2020

Company update/regulation

Nice Actimize taps facial recognition or AML/KYC risk screening

Nice Actimize, a Nice business (Nasdaq: NICE) today announced that FACEPOINT, which launched an industry-leading biometric risk screening engine, has joined the X-Sight Marketplace, bringing its cutting-edge facial recognition technology for advanced KYC and watch list risk screening to the ecosystem.

14 December 2020

Company update/regulation

EBA identifies means to strengthen legal aspects of deposit protection from AML

The European Banking Authority (EBA) published today an Opinion on how to strengthen the connection between the EU legal frameworks on anti-money laundering and terrorist financing, and deposit protection.

14 December 2020

Company update/crime

Seon joins TruNarrative app store

SEON, the fraud fighters, today announces it has partnered with leading UK RegTech platform, TruNarrative, allowing TruNarrative users to leverage SEON’s extensive data to make informed onboarding decisions.

14 December 2020