Money Laundering

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/Money Laundering

EastNets partners Dow Jones on financial crime watchlist filtering

Late last year, EastNets, innovator in financial compliance solutions and services, concluded a significant strategic partnership with Dow Jones, the global leader in data intelligence.

Western Union to pay $586m to settle AML charges

/Money Laundering

Western Union to pay $586m to settle AML charges

Western Union has agreed to pay $586 million to settle US criminal and civil charges that it wilfully failed to maintain an effective anti-money laundering programme and aided and abetted wire fraud.

/Money Laundering

Nepalese banks sign up for Swift's sanction screening service

10 Nepalese banks will utilise SWIFT's Sanctions Screening service to support their sanctions compliance.

New 'secure' £1 coin to be released in March

/Money Laundering

New 'secure' £1 coin to be released in March

The UK treasury is set to roll out a new £1 coin in late March which it claims is the most resistant to counterfeiting ever produced.

/Money Laundering

Contego acquires Working Status

Contego, the RegTech platform, providing multi-source identity verification and compliance checks, today announced the acquisition of Working Status Ltd, the comprehensive software solution for Right-to-Work compliance and Human Resources management.

/Money Laundering

Signicat secures EU backing for ID assurance through Horizon 2020 funding

Signicat, the first and largest identity assurance provider in the world, today announced that it has secured phase one funding from Horizon 2020, the EU framework programme for funding research and innovation.

/Money Laundering

Harbin Bank signs transaction laundering service deal with Austreme

With the rapid development of cross-border e-commerce payment settlement business, Harbin Bank signed the Transaction Laundering Detection (TLD) Service Agreement with Austreme to prevent unauthorized merchants from using registered merchant accounts to submit transactions and expand the Bank’s capability in detecting and monitoring the laundering merchant sites.

/Money Laundering

Swift’s KYC Registry crosses 3,000-member milestone

More than 3,000 financial institutions have signed up to use The Know Your Customer (KYC) Registry, SWIFT’s centralised repository that maintains a standardised set of information about financial institutions required for KYC compliance.

/Money Laundering

ForeignExchange.com chooses Sphonic for risk management

London based ForeignExchange.com today announces that it has selected RegTech services from Sphonic to manage risk and regulation, leveraging its innovative suite of services.

Global banks and R3 test DLT for KYC services

/Money Laundering

Global banks and R3 test DLT for KYC services

BBVA, ING and UBS are among the R3 member banks that have been working on a proof-of-concept for a distributed ledger technology-based shared KYC registry.

/Money Laundering

Latvia's Norvik Banka to fight financial crime with Fico

Analytic software firm FICO announced today that Norvik Banka, one of the oldest commercial banks in Latvia, will use the FICO® TONBELLER® Compliance Solutions to fight money laundering and financial crime.

Latin American banks turn to Swift to combat de-risking threat

/Money Laundering

Latin American banks turn to Swift to combat de-risking threat

Eight Latin American central banks have signed up to adopt Swift's sanctions screening service and KYC Registry in an effort to combat the threat posed to the region by de-risking measures imposed in correspondent banking relationships.

/Money Laundering

BFC Bank signs with iFinancial for AMLtrac

UK-based core banking and anti-money laundering software vendor International Financial Systems (iFinancial) has signed BFC Bank for its anti-money-laundering tool AMLtrac.

/Money Laundering

Ixaris to remotely verify UBOs via iSignthis

iSignthis Ltd (ASX : ISX) is pleased to announce the commencement of their ‘key controller’ digital KYC service, with global payments expert, Ixaris.

/Money Laundering

Trulioo extends AML/KYC footprint to 60 countries

Trulioo, the leading global identity verification company, today announced that it now offers real-time identity verification coverage in 60 countries through its GlobalGateway platform.

/Money Laundering

BAE Systems lifts the lid on how dirty money moves

BAE Systems’ new report discusses how laundered money now represents between two and five per cent of the global Gross Domestic Product - equivalent to the fifth largest economy in the world.

RegTech startup ComplyAdvantage raises $8.2m

/Money Laundering

RegTech startup ComplyAdvantage raises $8.2m

ComplyAdvantage, a London-based regtech startup which uses artificial intelligence and machine learning to help firms meet AML and terrorst financing rules, has raised $8.2 million in a Series A funding round led by Balderton Capital.

/Money Laundering

FCA slaps £3.25 million fine on Sonali bank for AML failings

The Financial Conduct Authority (FCA) has fined Sonali Bank (UK) Limited (SBUK) £3,250,600 and has imposed a restriction, preventing it from accepting deposits from new customers for 168 days.

/Money Laundering

Accuity and Kyriba form corporate sanctions screening alliance

Kyriba Corp., the global leader in cloud-based treasury, payments, cash and risk management solutions, today announced its partnership with Accuity, the leading provider of financial crime compliance, payments and financial counterparty know-your-customer (KYC) solutions.

/Money Laundering

Nordea Bank goes live with Swift Data Quality service

SWIFT today announced that Swedish financial services group, Nordea Bank AB, has become the first subscriber to its new Payments Data Quality service, an advanced reporting and data analytics solution that helps financial institutions comply with new requirements stemming from the Financial Action Task Force’s (FATF) Recommendation 16.

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