Neopay

NOVEMBER 13, 2024

The Financial Conduct Authority (FCA) recently levied a substantial £16,675,200 fine against Metro Bank PLC (Metro) for significant shortcomings in its financial crime prevention systems and controls. This deficiency persisted until December 2020, leaving over four and a half years with potential gaps in financial crime oversight.

Financial Crimes 52

Financial Crimes Crime Due Diligence Compliance 52

The Payments Association

NOVEMBER 12, 2024

Whether financial institutions should build or buy financial crime management systems. As Financial crime grows increasingly complex, payment leaders face a critical choice: build an in-house financial crime management (FCM) solution or buy an established third-party system. Why is it important? What’s next?

Financial Crimes 88

Financial Crimes Crime Fraud Prevention Compliance 88

Finovate

JUNE 4, 2024

AMLYZE , a regtech specializing in combating financial crime that made its Finovate debut at FinovateEurope earlier this year , has forged a strategic partnership with Aura Cloud. ” Govina added, “Together, we will empower financial institutions to stay ahead of the curve in the fight against financial crime.”

Financial Crimes 63

Financial Crimes Crime Risk Assessment AML 63

Neopay

MARCH 7, 2024

In a recent move, the Financial Conduct Authority (FCA) has taken a significant step in addressing the prevalent anti-money laundering (AML) shortcomings among Annex 1 firms. Furthermore, financial crime controls have failed to keep pace with the rapid growth of these businesses. These must be addressed.”

AML 52

AML Financial Crimes Crime Risk Assessment 52

Finextra

DECEMBER 2, 2024

Themis, a global leader in financial crime prevention, announces the official launch of Tathabbat. This marks a significant step in Saudi Arabia’s compliance landscape, aligning with Vision 2030 and the country’s push to adopt world-class Know-Your-Finance (KYF) standards.

AML 52

AML Financial Crimes Crime Compliance 52

Fintech News

MAY 22, 2024

Over the past years, financial crime tech has risen to prominence, driven by increasing complexity and frequency of financial crimes, stricter regulations and compliance requirements, and technological advancements. Today, we delve into these firms’ offerings, recent strides and contributions to the field.

Financial Crimes 86

Financial Crimes Crime APACS Risk Assessment 86

The Paypers

NOVEMBER 22, 2024

NICE Actimize has announced its partnership with TF Bank in order to elevate the latter’s financial crime prevention programme through AML and SaaS solutions.

Financial Crimes 36

Financial Crimes Crime AML 36

The Paypers

NOVEMBER 22, 2024

NICE Actimize has announced its partnership with TF Bank in order to elevate the latter’s financial crime prevention program through AML and SaaS solutions.

Financial Crimes 36

Financial Crimes Crime AML 36

The Fintech Times

APRIL 29, 2024

In the last two decades, anti-money laundering (AML) regulatory framework, processes and mechanisms have not changed much. Alexandre Pinot , co-founder and head of innovation and strategy at Vilnius, Lithuania, headquartered AMLYZE , the AML/CFT compliance firm explains where the gaps in the current AML system are.

Money Laundering 77

Money Laundering AML SARS Financial Crimes 77

The Fintech Times

AUGUST 9, 2024

AU10TIX , the identity verification and management firm, has unveiled a new anti-money laundering (AML) solution, in a move to help businesses ensure a safer approach to risk mitigation. By providing a one-stop shop for all identity verification and AML compliance needs, AU10TIX ensures businesses can operate securely and efficiently.

AML 63

AML Risk Payment APIs and Integration Money Laundering 63

Seon

JULY 11, 2024

trillion a year, and the current state of money laundering, which touches two to five percent of the global GDP, the financial impact of these crimes is staggering. The webinar recording – available to watch here – thoroughly examined the importance of collaboration between fraud prevention and anti-money laundering (AML) teams.

Fraud Prevention 52

Fraud Prevention AML Money Laundering Financial Crimes 52

PYMNTS

SEPTEMBER 29, 2020

Jumio , known for its suite of artificial intelligence (AI)-powered identity verification and online know your customer (KYC) products, is beefing up its anti-money laundering (AML) powers. Another key component of the platform is helping companies manage various KYC and AML regulations in different jurisdictions across the world.

Financial Crimes 61

Financial Crimes AML Crime Money Laundering 61

Finextra

DECEMBER 2, 2024

Themis, a global leader in financial crime prevention, announces the official launch of Tathabbat.

AML 52

AML Financial Crimes Crime 52

The Fintech Times

APRIL 26, 2024

PwC , the assurance, tax and advisory services provider, has published a new report revealing what factors impact effective anti-money laundering (AML) practices the most. In its report, titled EMEA AML Survey 2024: Spotlight on Effectiveness , PwC reveals that many organisations do not feel they have adequate AML operations.

AML 58

AML Regulations Financial Crimes Money Laundering 58

The Fintech Times

JANUARY 17, 2024

Helping firms achieve this, Minerva , an anti-money laundering (AML) compliance technology provider, has launched a new channel programme to provide better accessibility to its services. The channel programme is ideal for organisations looking to resell, cosell, integrate, or refer Minerva’s AML solution to customers.

AML 58

AML Financial Crimes Crime Money Laundering 58

FICO

MAY 20, 2021

In my Financial Crimes Predictions 2021: More AI & Ransomware post , I talked about how banks will move to operationalize their Anti-Money Laundering (AML) compliance programs to achieve greater efficiencies and how robotic process automation (RPA) adoption will drive the paradigm shift.

Financial Crimes 52

Financial Crimes AML Crime Automation 52

The Paypers

MARCH 18, 2024

UK-based AML specialist SmartSearch has analysed global AML events and published a new report which showcases drug trafficking as one of the most prevalent issues.

AML 41

AML Financial Crimes Crime 41

Finovate

MARCH 28, 2024

Fraud and risk platform DataVisor launched its anti-money laundering (AML) solution this week. AI-powered fraud and risk platform DataVisor launched its end-to-end anti-money laundering (AML) solution this week. AI-powered fraud and risk platform DataVisor launched its end-to-end anti-money laundering (AML) solution this week.

AML 58

AML Compliance AI Money Laundering 58

The Fintech Times

MAY 12, 2024

Now, Sumsub is gearing up for a second iteration of its Advanced Transaction Monitoring Masterclass 2024 , which will help over 2,500 anti-money laundering (AML), anti-fraud, and compliance professionals in the fintech sector to boost their knowledge in combating financial crime issues facing their respective companies.

Financial Crimes 68

Financial Crimes Crime Money Laundering Deepfake 68

Neopay

JULY 26, 2024

This enforcement action marks the first use of the FCA’s new powers under the Electronic Money Regulations 2011, emphasising the regulator’s commitment to maintaining stringent financial crime controls within the cryptoasset industry. Firms like CBPL that enable crypto trading need to have strong financial crime controls.

Financial Crimes 52

Financial Crimes Crime Breach Money Laundering 52

The Fintech Times

FEBRUARY 11, 2024

Napier , the London-based global financial crime compliance regtech, has served up new solutions with advanced analytics and intelligent automation embedded into their configuration. The post Napier Launches Two New Service Offerings for Enhanced AML Compliance appeared first on The Fintech Times.

Compliance 82

Compliance AML Financial Crimes Payment APIs and Integration 82

The Paypers

JULY 8, 2024

European financial services group Nordea has been charged by Denmark’s Special Crime Unit (NSK) for breaching the country’s Anti-Money Laundering (AML) act between 2012 and 2015.

AML 41

AML Breach Money Laundering Regulations 41

Finovate

APRIL 24, 2024

Impact asset manager Finance in Motion has teamed up with financial crime compliance specialist Napier AI. Finance in Motion will deploy Napier AI Continuum as its anti-money laundering and counter terrorist financing (AML/CTF) platform. London-based Napier AI made its Finovate debut at FinovateEurope in 2018.

Financial Crimes 58

Financial Crimes Crime AI Finance 58

Seon

APRIL 11, 2024

As fraud gains in volume and velocity, so too will the need for fraudsters to launder their profits – and as cross-border financial crimes are here to stay, no institution or location is immune. Moving in the other direction, fraud teams can leverage traditional AML information to create more robust and refined risk rulings.

Fraud Prevention 52

Fraud Prevention AML Money Laundering Financial Crimes 52

Finextra

APRIL 24, 2024

Napier AI, the London-based financial crime compliance RegTech, is pleased to announce that Napier AI Continuum has been selected as the anti-money laundering and counter terrorist financing (AML/CTF) platform for world-leading impact asset manager, Finance in Motion.

AML 52

AML AI Money Laundering Finance 52

The Fintech Times

JULY 21, 2024

UK financial services firms currently spend over £21,000 per hour fighting financial crime and fraud through onboarding and compliance screening processes, according to the latest True Cost of Compliance report from LexisNexis Risk Solutions. In fact, levels of tech investment have grown at twice the rate of employee-related costs.

Financial Crimes 63

Financial Crimes Crime Compliance Due Diligence 63

Fintech News

MAY 7, 2024

COSMIC, which stands for Collaborative Sharing of Money Laundering/Terrorism Financing Information and Cases, is currently utilised by participating banks to enhance the detection and prevention of significant financial crimes through shared customer information.

AML 104

AML Money Laundering Financial Crimes Non-Bank 104

Fintech News

OCTOBER 21, 2024

This funding will support Tookitaki’s expansion across key Asian markets and bolster its financial crime prevention technology. Tookitaki’s platform, FinCense, uses AI to help institutions detect and address financial crime more effectively.

Financial Crimes 132

Financial Crimes Security Crime Cross-Border Payments 132

The Fintech Times

JUNE 7, 2024

A newly launched generative AI copilot plugin from SaaS AI financial crime-focused firm, Lucinity , is already delivering immediate results for fintechs. ” The post Lucinity Enhances AI Copilot Plugin to Help FIs Tackle Financial Crime appeared first on The Fintech Times.

Financial Crimes 63

Financial Crimes Crime AI Third Party Vendors 63

PYMNTS

SEPTEMBER 21, 2020

Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) show that several of the largest global banks moved money on behalf of scores of individuals and enterprises involved in criminal financial activity. As BuzzFeed reported, “laws that were meant to stop financial crime have instead allowed it to flourish.

Fincen 139

Fincen AML Suspicious Activity Report (SAR) Financial Crimes 139

Finextra

FEBRUARY 27, 2024

Themis continues to lead in applying innovative technology to the fight against financial crime, with the launch of a cutting-edge, AI-powered chatbot integration for its AML/KYC Platform.

AML 40

AML Bots AI Financial Crimes 40

Finextra

JANUARY 3, 2024

AMLYZE, a leading RegTech specializing in anti-financial crime solutions for FinTechs, banks and crypto businesses, is excited to announce a strategic partnership with TransactionLink, the Berlin-based no-code platform, in a move that will transform the landscape of Anti-Money Laundering (AML) and Know Your Customer (KYC) automation.

AML 45

AML Money Laundering Financial Crimes Compliance 45

The Paypers

DECEMBER 11, 2023

Iceland-based AML software company Lucinity has integrated with Open Banking payments provider Trustly to augment its financial crime prevention operations.

Financial Crimes 41

Financial Crimes Crime AML Payments 41

FICO

MARCH 6, 2020

In September 2019, Fico and Visma announced their partnership to Offer SaaS Anti Financial Crime Solutions in Western Europe. I also manage the partner channels and programs for our financial crime compliance solutions. In this excerpt from that article, Jürgen elaborates on the importance of compliance. .

Financial Crimes 81

Financial Crimes Crime Compliance Technology 81

Fintech News

JULY 31, 2024

Hawk, a provider of AI-driven fraud prevention and anti-money laundering (AML) technology, has secured additional Series B funding with Macquarie Capital. This new funding aims to enhance Hawk’s international growth as demand for its AI-powered anti-financial crime technology continues to rise.

AI 96

AI Financial Crimes Fraud Prevention AML 96

Finovate

DECEMBER 2, 2024

Cryptocurrencies Taiwan expedites implementation of its new Anti-Money Laundering (AML) regulations for cryptocurrency companies. Razorpay teams up with the Ministry of Home Affairs (MHA) and the Indian Cyber Crime Coordination Centre (I4C) to boost cybersecurity for digital payments in India. Mortgagetech U.K.-based million (€16.8

FinTech 52

FinTech AML Money Laundering Crime 52

FICO

JUNE 12, 2020

Stopping financial crime in Australia is an age-old problem, but today’s criminals have become so sophisticated that long-standing anti-money laundering (AML) systems and processes are no longer keeping up. Convergence—that is, bringing together fraud and AML functions—will be key, as well as moving on from rule-based AML systems.

Financial Crimes 52

Financial Crimes Crime Money Laundering AML 52