Articles with tag: due diligence

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MT Global penalised with USD 32 mln over anti-money laundering failures

News | Digital Identity, Security & Online Fraud | 08 Jan 2021

Britain’s tax authority has fined MT Global, a private money services business, with USD 32.4 million for significant breaches of anti-money laundering regulations.

MT Global, AML, fine, financial crime, UK, Majesty’s Revenue and Customs, HMRC, due diligence, record keeping, payments

Federal agency ends anti-money laundering consent order for Wells Fargo

News | Digital Identity, Security & Online Fraud | 06 Jan 2021

The Comptroller of the Currency (OCC) had terminated a 2015 consent order related to an anti-money laundering compliance program after Wells Fargo took steps to remedy the problems.

customer due diligence, money laundering, CDD, banking, fraud prevention, OCC, US, Wells Fargo

Anti-money laundering market to be valued at USD 1.99 bln by 2025

News | Digital Identity, Security & Online Fraud | 15 Oct 2020

Million Insights has revealed in a report that the global AML market size is projected to reach USD 1.99 billion by 2025, registering CAGR of 13.6% over the forecast period 2019 to 2025.

anti-money laundering, Million Insights, cyber-criminals, Peer-to-Peer, P2P, money transfer, online payment, Customer Due Diligence, CDD, Know Your Customer, KYC, biometrics, behaviour analysis, customer identity management, NICE Actimize, Tata Consultancy Services Limited, Accenture, SAS Institute, ACI Worldwide

Westpac Bank to pay record fine over money laundering breaches

News | Digital Identity, Security & Online Fraud | 25 Sep 2020

Australia’s Westpac Bank has negotiated to pay a record USD 0.9 billion fine for the nation’s biggest breach of money laundering laws, according to BBC.

Westpac Bank, money laundering, financial crime, international transfers, due diligence, Australia

Bedrock Capital leads USD 5.4 mln Series A in anti-money laundering startup First AML

News | Digital Identity, Security & Online Fraud | 17 Sep 2020

First AML has raised USD 5.4 million in a Series A funding round led by US-based Bedrock Capital, with support from existing investors Pushpay founder Chris Heaslip and Icehouse Ventures.

First AML, Series A funding round, Bedrock Capital, Pushpay, Icehouse Ventures, AML, anti-money laundering, Customer Due Diligence, identity verification, money laundering risk, Patriot Act, KYC, onboarding experience, biometric identification, remote verification

Vendorly partners Secure Insight to mitigate wire fraud risk

News | Digital Identity, Security & Online Fraud | 15 Sep 2020

Vendorly, a SaaS-based vendor oversight platform for financial institutions, has signed a reseller agreement with risk management company Secure Insight to help protect Vendorly clients against wire fraud.

Vendorly, Secure Insight, wire fraud, risk management, due diligence

US-based remote working fintech Deel launches in Europe

News | E-invoicing, SCF & E-procurement | 13 Aug 2020

Fintech startup Deel has launched in Europe in hopes to streamline the work from home process through its online platform.

US, Europe, remote working, fintech, Deel, work from home, online platform, remote workers, currencies, legal fees, due diligence, local law, tax system, international payroll process, WeTransfer

Accuity, Encompass team up for KYC risk assessments

News | Digital Identity, Security & Online Fraud | 23 Jul 2020

Accuity and Encompass Corporation have announced a strategic partnership to help customers streamline KYC processes, facilitate the quality of risk assessments, and reduce the costs of compliance.

Accuity, Encompass Corporation, partnership, KYC, risk assessments, financial crime screening, risk decisioning, onboarding, due diligence

ACAMS launches KYC certification for operations teams

News | Digital Identity, Security & Online Fraud | 10 Jul 2020

ACAMS (Association of Certified Anti-Money Laundering Specialists) has launched a know your customer (KYC) certification for early career professionals and their supervisors. 

ACAMS, Association of Certified Anti-Money Laundering Specialists, know your customer certification, KYC, anti-money laundering prevention, CDD, customer due diligence, EDD, enhanced due diligence, ultimate beneficial owners, UBOs, customer profiles

Fenergo selected by Aviva for KYC, CDD, and AML processes

News | Digital Identity, Security & Online Fraud | 25 Jun 2020

Fenergo has been selected by Aviva to replace KYC, customer due diligence (CDD), and AML systems and services. 

Aviva, Fenergo, KYC, CDD, AML, digital transformation, client lifecycle management, CLM, financial institutions, customer due diligence, onboarding, risk assessment, management, regulations, auditors, UBO, data

EQ, Encompass partner for KYC offering

News | Digital Identity, Security & Online Fraud | 23 Jun 2020

UK-based digital service provider EQ has announced that it has partnered with Encompass to develop its KYC proposition.

EQ, Encompass, KYC, UK, automation, artificial intelligence, AI, data analysis, customer onboarding, due diligence, remediation, partnership

iProov, NorthRow partner to facilitate customer due diligence

News | Digital Identity, Security & Online Fraud | 11 Jun 2020

Spoof-resistant biometric authentication technology company iProov has announced its partnership with regtech specialists NorthRow

iProov, partnership, regtech, NorthRow, customer due diligence, fintech, AML, onboarding, remote transactions, SCA, criminal attacks, fraud protection, financial crime, facial verification, compliance

CoinDCX, Onfido team up to decrease KYC verification time

News | Digital Identity, Security & Online Fraud | 05 Jun 2020

India-based cryptocurrency exchange CoinDCX has announced a partnership with global identity verification and authentication company Onfido

CoinDCX, partnership, Onfido, KYC, identity verification, India, cryptocurrency, authentication, onboarding, regulations, fraud, prevention, AI, artificial intelligence, due diligence, ID, security

Rakuten Securities chooses NICE Actimize's AML solutions

News | Digital Identity, Security & Online Fraud | 28 May 2020

NICE Actimize has been chosen by Rakuten Securities, an online brokerage operating throughout Japan and across Asia. 

NICE Actimize, AML, Rakuten Securities, financial crime, crime management, Japan, Asia, online brokerage, AML, compliance, CDD, due diligence, monitoring, KYC, risks, onboarding, scoring, analytics, regulations

Hello Soda launches API platform for KYC, AML and fraud prevention solutions

News | Digital Identity, Security & Online Fraud | 05 May 2020

Global identity specialist Hello Soda has launched Sodium, a new single API platform designed to streamline the delivery of its suite of KYC, AML and fraud prevention solutions.

Hello Soda, KYC, AML, fraud prevention, identity verification, due diligence

Fenergo unveils remote account opening solution

News | Payments General | 22 Apr 2020

Fenergo has announced the launch of its digital cloud-based Remote Account Opening solution, in order to assist US small businesses in accessing Paycheck Protection Programme (PPP) emergency loans.

Fenergo, launch, remote account opening, Solution, small business, loan approvals, CLM, client lifecycle management, financial institutions, US, KYC, AML, Bank Secrecy Act, BSA, screening, due diligence

Baanx, HooYu team up for onboarding and KYC processes

News | Cryptocurrencies | 19 Mar 2020

Customer onboarding and KYC technology company HooYu has been deployed by mobile crypto and fiat specialist Baanx

Baanx, partnership, HooYu, KYC, cryptocurrency, digital assets, due diligence, wallets, exchanges, AML

SIX Group selects Know Your Customer to strengthen supplier due diligence

News | Digital Identity, Security & Online Fraud | 05 Mar 2020

SIX Group has selected regtech provider Know Your Customer to strengthen its procurement process and better assess the risk associated with its international suppliers.

SIX Group, Know Your Customer, suppliers, due diligence, regtech, fintech, money laundering, financing, KYC

TONIK selects NICE Actimize's AML solution to launch its digital banking platform

News | Digital Identity, Security & Online Fraud | 20 Feb 2020

TONIK has chosen NICE Actimize to implement its Essentials Anti-Money Laundering solutions and support the development of a secure banking environment for its new customer base. 

NICE Actimize, AML, TONIK, launch, digital banking, Asia, licensed digital bank, loans, accounts, payments, cards, retail, transaction monitoring, customer due diligence, and sanctions screening

HDFC Bank violates KYC norms; RBI imposes penalty

News | Digital Identity, Security & Online Fraud | 31 Jan 2020

The Reserve Bank of India (RBI) has imposed INR 1 crore penalty on HDFC Bank for non-compliance with KYC norms. 

RBI, monetary penalty, HDFC Bank, KYC, norms, compliance, banks, due diligence, accounts