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Monday, January 17, 2022
While the growing number of money laundering scandals have confirmed the need to protect businesses against fraud, many analysts simply rely on Google. Having surveyed 156 anti-money laundering (AML) and know your customer (KYC) professionals, RegTech company Arachnys has revealed that 85% used Google for their due diligence or risk […]
The UK’s Financial Conduct Authority (FCA) has warned investors to avoid coronavirus-related cryptocurrency schemes that may seem too good to be true. Crypto scams are on the rise to exploit investors In a warning published on its website, the regulator says criminals and scammers are trying to take advantage of […]
Bank of England officials have voiced concerns that Deutsche Bank is failing to improve its anti-money laundering (AML) and compliance controls and have warned the German lender that it could lose access to the UK market following Brexit, the Financial Times reported Monday. The bank’s latest compliance troubles come four […]
If there is one truism about financial crime, it’s that the perpetrators are ever-present and ever-evolving. Just as technology has revolutionized banking and finance, so too has it given criminals more sophisticated tools. Indeed, as financial institutions work to keep pace with exponential technology advances, criminals seem to be pulling […]
Europe has emerged as a key region for hatching and scaling fintech companies. And today, one of the more prominent fintech startups is announcing a large round of funding, from a mix of strategic investors, to keep growing its business. Dublin-based Fenergo builds solutions for banks and other financial management […]
Complying with KYC does not entail one single check, but rather, is a series of processes that combine to ensure the verification of an individual’s identity and the analysis of their suitability to use financial services. The main stages that make up this process are identification, Customer Due Diligence (CDD) […]
UK businesses conducting cryptoasset activities must register with the FCA. The UK Financial Conduct Authority (FCA) has become the anti-money laundering and counter-terrorist financing (AML/CTF) supervisor for businesses engaging in certain cryptoasset activities under the amended Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLRs). Any UK business […]
Every month in 2019, a new high-profile data breach made headlines. More than a billion customers of various companies had their private information stolen by hackers or exposed to unsecured servers. This poor management of private data angered many – including lawmakers. New data privacy laws in California and New York […]
The compliance side of Fintech is Regtech, and the same automation technology can drive the growth of safe, legal digital payments. Southeast Asia’s Internet economy—the fastest and largest growth in the world—is primed for explosive growth. A report by Google, Temasek and Bain & Company found the region’s Internet economy […]
Following the launch of the UK’s first international partnerships aimed at kickstarting fintech growth, industry leaders question whether they have lived up to expectations. When the UK government announced a series of so-called fintech bridge agreements, it hoped to help firms do business in other international financial technology hubs. Three […]