Latest Financial Crime News: Finextra Research

SteelEye exploits AI to sniff-out market abuse

Compliance technology and data analytics firm SteelEye is tackling market abuse and communications monitoring with new lexicon technology.

26 April 2021

/crime

How Curve got back on track after Wirecard fallout

In June 2020, the FCA acted overnight to freeze customer accounts across UK fintech firms including Curve, Pockit, Soldo, Anna Money and Holvi, after Wirecard Card Solution’s (WCS) parent company filed for insolvency in Germany.

15 April 2021

/crime

Rabobank and ABN Amro target privacy-friendly data analysis

ABN Amro and Rabobank are working with research outfit TNO to test technology that lets banks share data used for detecting financial crime while still respecting clients' privacy.

07 April 2021

/crime

Feedzai achieves Unicorn status on $200 million fund raise

AI-based financial crime detection platform Feedzai has joined the Unicorn club, raising $200 million at a valuation of above $1 billion.

24 March 2021

/crime

Clamour grows to add financial scams to UK 'Online Harms' bill

UK Trade organisations, consumer groups and a senior MP have joined forces to call on the UK government to reverse its decision not to include online scams in its new 'Online Harms' bill.

12 March 2021

/crime

Money mule recruiters targeting 'Generation Covid'

Money mule recruiters are posting fake adverts on job websites and social media to lure in young people looking for work or easy money during the Covid-19 pandemic, say UK Finance and Cifas.

10 March 2021

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Financial crime detection startup Elucidate raises €2.5 million

Elucidate, the Berlin-based financial crime risk quantification agency, has raised €2.5 million in a pre-Series-A funding round led by Frontline Ventures.

09 March 2021

/crime

US charges North Koreans in huge hacking operation

The US Department of Justice has unsealed charged against three North Korean computer programmers it says conspired to steal and extort more than $1.3 billion in cash and cryptocurrency.

17 February 2021

/crime

Davos 2021: Silver Lake co-founder dismisses belief about Bitcoin’s use for criminal activity

Finextra is at Davos this year, covering global insights into the impact fintech has on wider issues such as responding to Covid-19, restoring economic growth and advancing a new social contract.

26 January 2021

/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

/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

/crime

Starling's Boden criticises government over Online Harms bill

Starling boss Anne Boden has called on the UK government to reverse its decision not to include financial fraud in its new 'Online Harms' bill, arguing that banks "seem to have become the underwriter" of all kinds of fraud, giving other players, such as social media platforms and telcos, a free pass.

08 January 2021

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