Industry roundup: 23 February
by Kylene Casanova
Thales' new solution, FV Bank launches API to automate payment data to clients, Nedbank South Africa goes digital, GIABA to combat money laundering
Terrorist Financing
Industry roundup: 2 February
by Kylene Casanova
IRS transition to RPA tech, UAE fintechs invited to VEI, EBA launches EuReCa, India taxes crypto, Oracle expands OCI features
Africa’s first digital currency launched
by Graham Buck
The Central Bank of Nigeria announced that the eNaira finally made its debut on Monday after missing its original 1 October launch date
Better ways to detect and disrupt financial crime
by Ben Poole
New research commissioned by SWIFT Institute analyses the current financial transaction monitoring model and suggests opportunities for the future.
Cybersecurity solutions to stop the fraudsters
by Ben Poole
Mastercard is the latest to upgrade its cyber offerings for businesses.
EBA makes AML and ESG moves
by Ben Poole
The European Banking Authority has issued guidance on the enforcement of AML rules and launched a consultation on ESG risks.
Mastercard deploys AI to tackle cyber security
by Ben Poole
Its Cyber Secure solution aims to advance a set of integrated cyber capabilities for banks and their businesses.
Dutch banks take aim at money launderers
by Ben Poole
Transaction Monitoring Netherlands is a collaborative effort that aims to crack down on money laundering and terrorism financing.
Banks and police team up to fight financial crime in Sweden
by Ben Poole
The SAMLIT effort will be piloted this year, with the goal of launching in 2021.
European Commission ramps up fight against money laundering and terrorist financing
by Ben Poole
Its six pillar Action Plan aims to ensure that EU rules are more harmonised and more effective.
Rise in cybercrime as fraudsters exploit COVID-19
by Ben Poole
Microsoft and Temenos are the latest to try and address the spike in financial crime.
Tackling cyber threats through technology and education
by Ben Poole
IBM and Fernergo partnering on software solutions to financial crime, as Mastercard and Oxford University offer cyber skills programme.
EBA seeking to mitigate financial crime risks during COVID-19
by Ben Poole
The European Banking Authority has outlined AML/CFT efforts that competent authorities should be promoting to financial institutions.
Half of all reported crime in UK is cyber crime or fraud
by Ben Poole
PIFMA's Financial Crime Conference found cyber crime and fraud figures are growing exponentially each year.
US Treasury announces 2020 National Illicit Finance Strategy
by Ben Poole
Report identifies key illicit finance concerns for the US and establishes a roadmap to modernise the country's AML/CFT regime.
EBA consults on revised guidelines on money laundering and terrorist financing risk factors
by Ben Poole
The updated guidelines take into account changes to the EU AML and CTF legal framework.
US and UK lead 2019’s US$8.14bn AML fines
by Ben Poole
Research from Encompass shows that annual AML fines nearly doubled compared to the previous year.
DBS partners with Exiger to tackle evolving risks of financial crime
by Ben Poole
The bank plans to use an automated AI-powered solution to enhance customer screening processes.
Standard Chartered and Quantexa to tackle financial crime with contextual decision intelligence
by Ben Poole
The partnership provides the bank with a platform to conduct complex financial thematic investigations.
US regulators release joint statement on activities involving digital assets
by Ben Poole
The statement highlights the AML and non-terrorism financing obligations those involved with digital assets have.
EU highlights money laundering and terrorist financing risks in the financial sector
by Ben Poole
Findings show that the monitoring of transactions and suspicious transactions reporting still raise concerns.
Think KYSC - KYC alone is not enough
by Jack Large
Unless you Know Your Supply Chain which involves Know Your Customer + Know Your Vendor you will always be at risk
UK anti-money laundering protection tightens, but more automation needed
by Jack Large
Platforms needed to identify Ultimate Business Owners
220 regulatory alerts every day, yet only 28% outsourcing compliance
by Jack Large
Thomson Reuters “Cost of Compliance 2019: 10 years of regulatory change” report shows scale and dynamics of regulatory compliance