Finextra

SEPTEMBER 2, 2024

Lucinity, the global leader in AI software for financial crime compliance, has secured a second patent from the US for its proprietary federated learning technology, which provides a unique approach to allow global financial systems to share algorithmic learning patterns without having to share sensitive data.

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The Payments Association

OCTOBER 20, 2023

Richard Dunlop of fscom summarises the major points of the 2023 Financial Crime Compliance Report and highlights key issues in anti-money laundering strategies that have been identified. Read more

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Finextra

SEPTEMBER 6, 2024

Nasdaq (Nasdaq: NDAQ), today announced a new leadership structure including leadership appointment for its Financial Crime Management Technology business, designed to support the business’ strong momentum and continuing its growth trajectory.

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The Payments Association

DECEMBER 7, 2023

The Payments Association’s annual Financial Crime 360 conference took place at the Royal Lancaster Hotel in London on Tuesday, 21 November. Hundreds of industry professionals from across the payments industry heard from some of the sector’s most important voices on the ever-present issue of financial crime and its solutions.

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Fintech News

APRIL 14, 2024

This collaboration will involve the deployment of Silent Eight’s AI platform, Iris , to enhance AIA’s financial crime compliance screening processes across multiple jurisdictions. Pan-Asian life and health insurer AIA has partnered with regtech firm Silent Eight , which specialises in AI-driven compliance solutions.

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The Paypers

FEBRUARY 26, 2024

The Financial Action Task Force (FATF) has announced that it has dropped the UAE from its grey list regarding concerns about financial crime and money laundering.

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Finextra

JULY 30, 2024

AI-powered financial crime detection specialist ThetaRay has acquired screening company Screena. Financial terms were not disclosed.

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The Paypers

SEPTEMBER 9, 2024

As part of the government’s 2024-2027 National Strategy for AML, CFT, and Proliferation Financing, the United Arab Emirates (UAE) has introduced new regulations to mitigate financial crime.

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Financial Crimes AML Crime Regulations 41

Finovate

AUGUST 13, 2024

Financial crime compliance platform Lucinity announced a strategic partnership with AI data management company Knights Analytics. The partnership will bring advanced AI-powered data management capabilities to bear to fight financial crime. Lucinity made its Finovate debut at FinovateSpring 2023 in San Francisco.

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Financial Crimes Crime Compliance AI 59

Finextra

APRIL 17, 2024

Revolut, the global financial app with more than 40 million customers worldwide, has today announced the release of its first Financial Crime and Consumer Security Report, containing exclusive scam and fraud insights.

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Financial Crimes Crime Consumer Security 72

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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Finextra

AUGUST 5, 2024

FinextraTV, Julia Thorn, Senior Marketing Manager, Financial Crime Compliance, LexisNexis® Risk Solutions and Robert Campbell, Programme Director of United for Wildlife, The Royal Foundation of The Prince and Princess of Wales, dive deep into their recently released report on how wildlife trafficking can be combatted with the power of collaboration. (..)

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Neopay

APRIL 25, 2024

The FCA are consulting on proposed changes to its Financial Crime Guide. Why the FCA are consulting The FCA are proposing updates to the Financial Crime Guide in relation to sanctions, proliferation financing and transaction monitoring. Next steps Send us your comments on the CP questions by 27 June 2024.

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Financial Crimes Crime Consulting Money Laundering 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.

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Fintech News

MARCH 31, 2024

This balance ensures the protection of legitimate customers’ interests while empowering FIs to effectively assess and mitigate risks associated with financial crimes. It complements the industry’s existing close collaboration with MAS and law enforcement authorities to combat financial crime.

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Financial Crimes Crime Money Laundering Law Enforcement 80

Finextra

APRIL 24, 2024

AI-based financial crime detection startup ComplyAdvantage has acquired Golden Recursion in a deal that brings Andreessen Horowitz in as a shareholder.

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Financial Crimes Crime Acquirers AI 64

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.”

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The Fintech Times

APRIL 3, 2024

“It complements the industry’s existing close collaboration with MAS and law enforcement authorities to combat financial crime. This will strengthen Singapore’s capabilities to uphold our reputation as a well-regulated and trusted financial centre.”

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Neopay

MAY 7, 2024

The Financial Conduct Authority (FCA) is proposing significant updates to its Financial Crime Guide. The FCA aims to assist firms in understanding regulatory expectations while empowering them to assess the adequacy of their financial crime systems and controls. However, the proposed changes don’t stop there.

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Financial Crimes Crime Risk Assessment Money Laundering 52

Finextra

AUGUST 19, 2024

How confident and mature are financial institutions in detecting and mitigating trade based financial crime?

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Financial Crimes Crime Mitigation Payments 52

The Paypers

JULY 19, 2024

The Bankers Association for Finance and Trade (BAFT) has recently released a new whitepaper, ‘ Digital Currencies and Financial Crimes Concerns ’, focusing on the challenges posed by financial crimes.

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Finextra

APRIL 25, 2024

In order to further increase Swedbank’s ability to combat financial crime, Anti-Financial Crime (AFC) will be integrated into Group Products and Advice (GPA), effective immediately.

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Financial Crimes Crime Product 59

Finextra

JULY 15, 2024

Fraud accounts for atleast 40% of financial crime in the UK. In 2022, UK banks have identified over.

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Fintech News

FEBRUARY 21, 2024

This development is set against the backdrop of evolving financial crimes, which increasingly involve complex, multi-jurisdictional operations. Featured image credit: Edited from Freepik The post How Will MAS New Amendments Impact Financial Crime Enforcement appeared first on Fintech Singapore.

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Financial Crimes Crime Authorization Consulting 89

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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Finextra

JUNE 27, 2024

Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, announced a strategic partnership with Silent Eight, a pioneering RegTech company that offers comprehensive solutions across the compliance workflow through an AI and machine learning platform designed to identify and prevent financial crime.

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Financial Crimes Crime Automation Compliance 52

The Fintech Times

APRIL 24, 2024

ComplyAdvantage , the financial crime intelligence firm, has officially acquired Golden , a San Francisco-based firm automating the construction of one of the world’s largest knowledge graphs, which shows interconnected data points and their relationships to analyse complex information.

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Financial Crimes Crime AI Acquirers 59

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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Neopay

NOVEMBER 28, 2023

The digital revolution, spearheaded by digital banking, cryptocurrency, artificial intelligence (AI), and digital payment systems, has significantly contributed to the exponential rise in global financial crime compliance costs. As a result, the cumulative financial crime compliance costs have now exceeded an impressive $206 billion.

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Financial Crimes Crime Compliance Money Laundering 52

Finextra

JANUARY 24, 2024

The London innovation hub of the Bank for International Settlements is inviting applications for an expert advisory group on a Bank of England-led project on financial crime fighting.

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The Fintech Times

JANUARY 30, 2024

Themis , the financial crime tech firm has reinforced its commitment to preventing financial crime as it launches its new risk management cloud service, hosted in Saudi Arabia. As a result, the service is poised to become a cornerstone for organisations seeking top-tier financial crime prevention infrastructure.

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Financial Crimes Risk Management Crime Risk 59

The Fintech Times

FEBRUARY 18, 2024

NICE Actimize introduces three advanced generative AI-based solutions aimed at combating financial crime and streamlining investigations and reporting processes. “Generative AI is a powerful tool in fighting financial crime,” said Craig Costigan , CEO, NICE Actimize.

Financial Crimes 59

Financial Crimes Crime Suspicious Activity Report (SAR) AI 59

Finextra

AUGUST 19, 2024

How confident and mature are financial institutions in detecting and mitigating trade based financial crime?

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Financial Crimes Crime Mitigation Payments 52

Neopay

FEBRUARY 26, 2024

Mark Francis Director, Wholesale and Unauthorised Business Investigations, and co-sponsor of the FCA’s Financial Crime Public Commitment We’ve made good progress to reduce and prevent financial crime, now more collaborative action across 4 areas of focus can help shift the dial further.

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The Fintech Times

FEBRUARY 26, 2024

Two fifths of regulated firms are reporting a rise in financial crime attempts, while more than a quarter admit to being victims, according to a recent survey by SmartSearch, a UK provider of anti-money-laundering software.

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Financial Crimes Crime Legal Money Laundering 59

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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The Paypers

MAY 29, 2024

AMLYZE , a RegTech firm specializing in anti-financial crime, has announced a strategic partnership with Aura Cloud , a provider of next-generation AI digital banking platforms.

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