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In February 2024, Piermont Bank and Sutton Bank each became subject to consent orders issued by the Federal Deposit Insurance Corp.
BaaS, fintech, consent, regulation, AML
Philippines has planned to block the Binance exchange by June 2024, giving time for investors to close their positions held via the exchange.
cryptocurrency exchange, regulation, AML, compliance, trading platform
US-based fintech company Alloy has announced the launch of a new risk management solution for Embedded Finance partnerships.
product launch, risk management, banks, fintech, customer experience, compliance
The US Treasury Department has proposed a new set of regulations to extend some pieces of AML rules that apply to banks to some investment advisers.
fraud prevention, regulation, AML, treasury
The Industrial and Commercial Bank of China (ICBC) has agreed to pay around USD 32 million to settle investigations related to compliance issues in New York.
AML, compliance, regulation, banks
The Google Play Store in India has removed the Binance and OKX cryptocurrency exchange apps following a noncompliance notice issued by the government.
compliance, cryptocurrency exchange, cryptocurrency, regulation
Cryptocurrency exchange Binance has agreed to pay USD 4 billion to settle an investigation from the US Department of Justice.
AML, cryptocurrency exchange, compliance, regulation
'Sticks in a bundle can't be broken, but sticks taken singly can be easily broken.'
regtech, identity verification, identity fraud, AML, KYC, banks, fintech, digital wallet, AI, APP fraud
Fintech Jack Henry has announced the launch of a cloud-native fraud and anti-money laundering (AML) solution designed with real-time capabilities to help FIs combat financial crime.
product launch, fincrime, AML, fraud prevention, artificial intelligence, cloud services, payment fraud, banking, fintech, financial institutions
Dive into the fascinating world of AI/ML/NLP integration for financial crime compliance. Alan Morley and Fanny Ip from Huron dissect the technical complexities and customised implementations involved.
financial crime, artificial intelligence, machine learning, banks, fintech, compliance
The US Treasury has published the 2023 DeFi Illicit Finance Risk Assessment that analyses the most common risks associated with DeFi services.
DeFi, cybercrime, report, high risk industry
US-based retail trading app Robinhood has revealed that it received a subpoena from the SEC over crypto custody and listings.
regulation, compliance, trading platform, AML
US-based bank Banesco USA has partnered with fraud prevention solution provider AML RightSource to improve its risk review processes with Automated Enhanced Due Diligence (EDD).
partnership, banking, fraud management, EDD, AML, KYC, artificial intelligence, financial data, data analytics, transaction monitoring, compliance, fintech
Alpian, a Switzerland-based digital bank, and Napier, a provider of financial crime compliance solutions, have partnered to implement an end-to-end risk management platform.
partnership, banks, digital banking, financial crime, compliance
Dr. Henry Balani from Encompass Corporation reveals the latest regulatory updates around beneficial ownership across the globe and shares advice on how to comply with them.
regulation, financial crime
Two US senators have introduced a bill aimed at helping cryptocurrency companies report cybersecurity threats.
fraud prevention, regulation, cybersecurity, cryptocurrency, crypto, online security, cybercrime
US-based PayPal has joined the Travel Rule Universal Solution Technology (TRUST) network in order to update its reporting requirements regarding the digital assets travel rule.
cryptocurrency, compliance, regulation, crypto
US-based fintech platform Robinhood has scaled down by firing 713 employees just three months after it already reduced its headcount by 9%.
trading platform, financial institutions, financial services, cryptocurrency
Jo Ann Barefoot from Alliance for Innovative Regulation (AIR) explains how the emergence of regtech firms that offer data-driven solutions for the enactment of the Anti-Money Laundering Act of 2020 in the US may be the new tools for AML.
AML, fraud prevention, regtech, KYC, transaction monitoring
Global crypto derivatives exchange BitMEX has expanded its platform beyond just derivatives by launching a spot crypto trading platform.
product launch, cryptocurrency, cryptocurrency exchange, trading platform, Bitcoin