MLRO’s in the regulatory “cross-hairs”
The role of AML compliance officer/MLRO has never been more challenging.
Anti-Money Laundering/AML
MoneyLive 2019: Neobanks “regularly” share tips on financial crime, says exec at Natwest’s Bó Bank
Collaboration between new banks is “pretty impressive”.
Westpac AML failure allowed 23m illegal transactions, say regulators
The bank failed to stop 23m potentially illegal transactions
How blockchain transforms banking and financial services
Who’s adopting this tech and what’s in store for it down the line?
Crypto compliance start-up TRM Labs raises $4.2m with help of PayPal
Backers include Reddit’s founder and PayPal Ventures.
US government plans strict enforcement of AML ‘travel rule’ for crypto firms
The rule requires crypto firms to share information about their customers.
Why has Lithuania become a key destination for licensing in Europe?
As part of its newly devised strategy, Lithuania put several tools in place.
Regional KYC utilities: Genesis of global collaboration on shared compliance platforms
Several countries are now adopting this model of a unified platform.
How is AI augmenting compliance practices?
SAS are seeing early AI entries in the Regtech space.
AML start-up Silent Eight raises $6.2m in Series A funding
The round included Standard Chartered’s SC Ventures.
FCA exposed for ‘shameful’ behaviour at its London HQ
Behaviors include defecating on the toilet floors and verbally abusing outsourced staff.
German bank association fires shots at Libra, calls on politicians and central banks for digital euro
The association wants a crypto led by European commercial banks and politicians.
Banking Technology November 2019 issue out now
The identity challenge.
Can compliance directors successfully reposition themselves as business leaders?
The role of banking compliance is in mid-evolution.
PayExpo 2019: We will be taking action, says FCA on insufficient safeguarding
The regulators found banks are delaying safeguarding precautions.
ESAs identify weaknesses leaving high-volume transaction firms open to money laundering risks
The three European Supervisory Authorities (ESAs) publish their second joint opinion.
LendIt Fintech Europe 2019: digital identity – a nut that remains to be cracked
Over time, like the isolated email systems before them, digital identity solutions will become interoperable.
Sibos 2019: Final wrap-up of talks, interviews and daily news
See our final wrap-up of the London-hosted four day event!
ABN Amro under investigation for anti-money laundering failures
European crackdown on money laundering continues.
UK banks halt £820m of fraud in the first half of 2019
Figure means an increase of 14% in blocked criminal transactions.
HSBC deploys industry first automated AML system
New software developed by AI firm Quantexa.
Australia orders audit of PayPal’s reporting compliance
The company reported itself following an internal review.
Sibos 2019: Banks must improve data handling to root out financial crime
Applying AI needs to be done when data is set right, says panel
FICO fights financial crime with Falcon X
A unified environment for the detection and investigation of both fraud and financial crimes.
API for identity and compliance: an acronym financial services actually love
Failure to accurately verify customer and business identities online has been a sharp thorn.
Behind the music: Tuning the noisiness of your KYC
Scanovate’s KYC Orchestra has been doing full tours in the EU, Latin America, Israel and the US.
LexisNexis Risk Solutions says companies will struggle with upcoming 5MLD
The regulation follows from the Panama Papers leaks and crypto.
Research reveals Belgium issued 95% of AML fines in last four months
Authorities handed down three AML-related fines May, totaling to $336.7 million.
Facebook’s Libra seeks payment system licence from Swiss regulator
The association also submitted a request for a ruling to clarify its regulatory status.
New challenger bank Zenus picks NICE Actimize AML tech
The bank wants a cloud-focused financial crime strategy.
Banking Technology September 2019 issue out now
Thriving in a hyper-connected world.
Distributed compliance is the key to banks increasing CDD and KYC challenges
We must we re-imagine risk management and compliance.
ICE’s Bakkt set to launch bitcoin futures contracts
Bakkt is “cleared to launch” its trading in bitcoin futures next month.
Beynd scores $2m seed round
The company uses its own software to onboard its customers.
Elevator Ventures invest in RegTech platform kompany.com
kompany combines AI, robotic process automation and blockchain technology.
Nasdaq uses AI to root out stock-market abuse
It detects irregular trading patterns and alerts officials according to machine-learning.
FIs choose Cloudera for digital transformation
Cloudera enables digital transformation for global financial services institutions.
Dos and don’ts of sanction screening
Regulators seek to send a strong message to financials if they drop the ball on sanctions screening.
Borgun adopts TruNarrative MLM platform
The solution will reduce onboarding time for new clients.
Pan-American Life Insurance seeks AML with Fiserv tech
Complying with regulation across each geography.
