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.

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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.

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Financial Crimes Crime Money Laundering Deepfake 69

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.

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Financial Crimes Crime Compliance Due Diligence 64

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.

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Fintech Finance

OCTOBER 11, 2024

Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) compliance programs. AML program, broadly aligned to its existing remediation program, which is progressing steadily under the direction of its new U.S. AML leadership team. Formal oversight of the AML remediation through a Monitorship. balance sheet. ” U.S.

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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.

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Financial Crimes Crime AI Third Party Vendors 64

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.

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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. For more than two decades I have now been working in the financial services industry.

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Financial Crimes Crime Compliance Technology 81

Bank Automation

OCTOBER 17, 2024

TD Bank is bolstering its anti-money-laundering practices with leadership changes and investment in data and technology following regulatory scrutiny resulting in major fines The Financial Crimes Enforcement Network fined the Toronto-based bank $1.3 billion and the U.S. Department of Justice levied $1.8 billion in fines on Oct.

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AML Compliance Money Laundering Financial Crimes 64

Fintech News

JUNE 26, 2024

Lawrence Wong Prime Minister and Finance Minister Lawrence Wong announced the strategy at the Financial Action Task Force Plenary Meeting, underscoring Singapore’s commitment to bolstering its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) efforts.

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AML Money Laundering Financial Crimes Scams 95

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.

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Financial Crimes AML Crime Money Laundering 61

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. Like other advanced financial sectors, Australia has a complex and evolving regulatory environment. and the U.K.

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Financial Crimes Crime Money Laundering AML 52

Fintech Review

OCTOBER 1, 2024

A new focus on digital identity verification As the financial landscape continues to evolve, the importance of Anti-Money Laundering ( AML ) and Know Your Customer (KYC) processes has never been more pronounced. These protocols are integral to combating financial crime and ensure regulatory compliance.

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AML Verification Research Consumer 98

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.

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Financial Crimes Security Crime Cross-Border Payments 116

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.”

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FICO

NOVEMBER 15, 2022

Siron Financial Crime Solutions Are Moving from FICO to IMTF. The team behind Siron are moving from FICO to IMTF, which will run the entire Siron Anti Financial Crime business worldwide. This is great news for Siron’s 1,200+ customers worldwide, and for efforts to stop financial crime in general. FICO Admin.

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FICO

DECEMBER 23, 2020

In the wake of such radical changes, as we look to the year ahead, the challenge for global banks and financial institutions at large has never been greater. Here is how we predict banks will endeavor to enhance their financial crimes controls in 2021: 1. Machine Learning Will Play a Great Role in Fighting Money Laundering.

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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.

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FICO

DECEMBER 1, 2020

I’m delighted to announce that FICO has been named as the Category Leader for Financial Crime - Enterprise Fraud in the recently published 2021 Chartis RiskTech 100. It discusses the need to deploy effective enterprise-wide solutions for fraud and financial crime management that can adapt to changing customer behaviour.

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Financial Crimes Crime Best Practices AML 59

FICO

MAY 28, 2020

It feels like we have been discussing the convergence of fraud and financial crime for at least a decade. I’ve certainly shared my views and predictions, including one of my recent blog posts Fraud and Financial Crime Product Strategy: C is for Convergence , but just in time for summer, the strategy is finally making a splash.

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Financial Crimes Crime Money Laundering AML 52

FICO

JUNE 23, 2022

The Role of Data in Managing Fraud and Financial Crime Today. In case you missed it, FICO World 2022 was a very welcome return to in-person learning and networking for the global fraud detection and financial crime-fighting community. Fraud Detection and AML Collaboration. Tue, 07/02/2019 - 02:45. by TJ Horan.

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Financial Crimes Crime AML Fraud Detection 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.

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FICO

JANUARY 8, 2021

This year has been anything but normal, but one of the few things that has held steady is my advocacy around fraud and financial crimes convergence. As you look at the opportunity for data for fraud and AML to collaborate more, where do you see the greatest opportunities and low hanging fruit? I think of it in three main ways.

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FICO

OCTOBER 5, 2021

I recently had the honor to participate in a panel discussion during the Aite-Novarica Financial Crime Forum. Joining me were insightful leaders from the financial industry: Trace Fooshee from Aite-Novarica, Stan Dillon from FIS, Deepthi Machavaram from BNY Mellon and Mike Sherrod from Truist.

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Financial Crimes Crime Technology Compliance 52

The Paypers

APRIL 6, 2023

Lithuania-based regtech AMLYZE has integrated its AML tool with Skaleet ’s core banking platform (CBP) to augment financial crime prevention.

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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.

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Money Laundering AML SARS Financial Crimes 78

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.

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AML Risk Payment APIs and Integration Money Laundering 64

FICO

JANUARY 15, 2021

Many in the industry know that I’m a strong proponent of Fraud and Financial Crimes Convergence, so I’m often asked about just what organizations should do from a technology standpoint. Check out this video as we discuss what you need to plan and implement to be able to converge fraud and AML technology.

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Financial Crimes Crime Technology AML 52

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.

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AI Financial Crimes Fraud Prevention AML 78

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.

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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.

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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.

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AML Financial Crimes Crime Money Laundering 59

FICO

JUNE 4, 2020

As I discussed in my last post, the convergence of fraud and financial crime management is finally reaching a tipping point. While many are under the assumption that financial institutions need to fully integrate fraud and AML teams to realize the benefits, they don’t have to fully merge.

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The Paypers

JUNE 20, 2024

Belgium-based Discai and Harmoney have entered a collaboration to provide an integrated Anti-Money Laundering (AML) solution for financial institutions.

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Financial Crimes Mitigation Crime Money Laundering 41

The Paypers

OCTOBER 6, 2022

Regtech provider Know Your Customer and Germany-based AML company Hawk AI have partnered up to improve financial crime compliance in Fintech.

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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.

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FICO

JANUARY 27, 2020

I am going to keep looking forward – especially when it comes to 2020 predictions for fraud and financial crime. AML Gets Integrated. A better question may be: why have fraud and financial crimes used siloed technology for so long? Fraud and Financial Crime Convergence Gets Real.

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