Westpac agrees to record AUD 1.3bn fine for AML failures
Australian bank on the receiving end of the country’s largest civil penalty.
Anti-Money Laundering/AML
White paper: Scalable, actionable anti-money laundering infrastructure
Open source AML solutions offer lower costs, rapid technology evolution, and broad community-based innovation.
Report: What keeps AML & CFT professionals awake at night?
Do your peers share your compliance challenges and professional pains?
Revolut faces lawsuit in Romania over blocked account
Revolut faces 3,911 complaints so far this year, as compared to its 2,487 for the whole of 2019.
Leaked FinCEN files show banks allowed $2trn in suspicious transactions
Major leak of suspicious activity reports shows “mind blowing” scale of money laundering issues.
US regulator plans major refresh for AML laws
FinCEN wants to update the Bank Secrecy Act to reflect modern threats.
FCA shuts down half its money-laundering investigations in 2020
It stopped seven of the 14 investigations into money laundering since January.
EBA calls for EU-wide set of anti-money laundering rules
European regulator says national rules have had “an adverse effect” on AML.
Regulators’ “fast and furious” AML fines don’t tell the whole compliance story
FinTech Futures speaks to Fenergo’s Rachel Woolley about the rise in penalties.
How government and businesses can protect minors online in a post-pandemic world
Any organisation that profits from selling age-restricted products and services should be held accountable.
How banks can balance UX and security amid a pandemic
How face-based biometrics and AI can deliver smooth digital onboarding and stamp out fraud.
EBA looks into adoption of regtech across EU
The banking questionnaire covers initiatives that could support the uptake of regtech solutions.
Catering to China’s small-time exporters
Bill Deng, CEO of XTransfer, unpacks how banks have snubbed a large number of long-tail customers.
Talk like an Egyptian: a brief history of data encryption
Can today’s PKI encryption techniques fill the promise of inherently secure data?
AI and correspondent banking: de-risking doesn’t need to mean goodbye
Correspondent banking represents one of the most vexing dilemmas for financial institutions and regulators.
Accuity partners with Encompass to automate client KYC
Encompass technology implemented into Accuity’s Bankers Almanac solution.
Latvian regulator fines Signet Bank €906k for AML issues
FCMC fines Latvian private bank after on-site inspections.
Hummingbird raises $8.2m led by Flourish Ventures
Flourish Ventures led the round, with new support from Stripe alumni Lachy Groom and Jon Zieger.
Major Dutch banks launch AML joint venture
Rabobank, ING, ABN Amro, Triodos Bank, and de Volksbank make AML move.
Ziraat Bank Greece switches to Natech banking suite
Ziraat’s new tech – Natech Core Banking CSB2 and Poseidon AML – reduced IT costs and operational complexity.
Five ways it pays to go beyond ID-only verification
Identity verification serves many benefits to organisations seeking to build trust in their online channels.
Why remote onboarding is going to make or break banks
A number of onboarding steps can be automated, streamlined and simplified to deliver a better customer experience.
Deutsche Bank faces $150m fine for Jeffrey Epstein ties
“The bank’s failure to recognise this risk constitutes a major compliance failure.”
IDnow hopes to bring video authentication to UK banks’ onboarding
Customers include Commerzbank, solarisBank, N26, and UniCredit.
SEB fined $107m by regulator for Baltic AML failures
The Swedish bank failed to identify risk among its subsidiaries.
Adverse media screening: a key pillar of financial crimes compliance
Can we leverage AI to enhance the effectiveness and efficiency of adverse media screening?
Lanistar partners with Jumio ahead of “polymorphic” debit card launch
Lanistar landed a $2.5 million seed investment in March.
Aviva taps Fenergo to revamp client onboarding systems
Fenergo will switch out Aviva’s KYC, AML, and CDD services.
Data privacy versus data security: why is it so hard to have both?
Blockchain and other DLT secure data by making it immutable.
Commerzbank fined £37.8m by FCA for AML failings
The London branch of the bank dragged up for issues between 2012 and 2017.
Muniy chooses HooYu for KYC and raises £200,000
The fintech says it will allow merchants to pay a lower transaction processing cost.
Banking Technology June 2020 issue out now
Real-time payments and fraud: balancing customer relationships and security.
Real-time payments and fraud: what can be done?
To effectively manage fraud risk, companies should use advanced analytics techniques.
Onfido takes UK one step closer to digital ID
The fintech’s sandbox is regulated by the FCA.
Santander deploys ThetaRay’s AML solution for correspondent banking
The roll out of ThetaRay’s solution across Santander began in Q4 2019.
E-book: The inevitable collision of identity proofing & authentication
How to achieve end-to-end identity verification and authentication in today’s digital world.
Getting reconciliation right in the “decade of data”
FinTech Futures sat with Douglas Greenwell, reconciliation expert at Duco.
The Bancorp announces release from consent order
Restrictions related to growth within The Bancorp’s Payments businesses are removed.
E-book: Are you using the best approach to verify customer identities?
Safely onboard more customers, supercharge your operations team, address identity AML & KYC compliance.
European Commission plans to plug gaps in AML and CTF rules
The EC wants to “shut down” any “loopholes” and remove any “weak links” in current rules.
