financial crime

More than four out of five anti-money laundering and customer onboarding professionals simply use Google
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More than four out of five anti-money laundering and customer onboarding professionals simply use Google

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 […]

FCA issues coronavirus cryptocurrency scam warning
announcement Cryptocurrency cyber security data protection digital approach digital currency finance financial crime fraud global markets Risk Managament

FCA issues coronavirus cryptocurrency scam warning

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 […]

Deutsche Bank’s latest compliance failures risk post-Brexit ‘passport’: FT
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Deutsche Bank’s latest compliance failures risk post-Brexit ‘passport’: FT

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 […]

Right Here, Right Now: Taking Action On Financial Crime
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Right Here, Right Now: Taking Action On Financial Crime

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 […]

Fenergo raises $80M at an $800M valuation for compliance and other fintech services aimed at banks
Capital market Compliance data analysis digital approach digital bank financial crime financial research financial services industry Fintech

Fenergo raises $80M at an $800M valuation for compliance and other fintech services aimed at banks

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 […]

The Process of KYC and its Future in an Evolving World
banking platform business development Compliance data protection digital bank finance financial crime financial research innovative solutions

The Process of KYC and its Future in an Evolving World

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) […]

FCA takes control over AML and CTF supervision of UK cryptoasset activities
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FCA takes control over AML and CTF supervision of UK cryptoasset activities

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 […]

Why Prioritizing Cybersecurity Makes Compliance Easier
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Why Prioritizing Cybersecurity Makes Compliance Easier

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 […]

Spotting suspicious transactions: Why automation is the future of compliance
Compliance Cryptocurrency cyber security data analysis digital approach digital bank digital currency financial crime financial research financial services Fintech

Spotting suspicious transactions: Why automation is the future of compliance

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 […]

Are the fintech bridges working?
banking platform business development cloud technologies compliance training finance financial crime Fintech global markets

Are the fintech bridges working?

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 […]