Articles with tag: money laundering

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Connecting the dots to fight financial crime and identify risks

Interviews | Digital Identity, Security & Online Fraud | 27 Nov 2020

After RiskConnect Virtual 2020, The Paypers interviewed Christian A. Chmiel, CEO and founder, Web Shield, to find out what where his event’s takeaways, with a focus on fighting financial crime

Christian Chmiel, Web Shield, KYC, merchant monitoring, financial crime, RiskConnect Virtual, risk managers, compliance managers, money laundering, AML, deceptive marketing

TruNarrative, kompany partner to provide anti-money laundering compliance for regulated businesses

News | Digital Identity, Security & Online Fraud | 27 Nov 2020

Regtech platform TruNarrative has partnered with kompany to add its comprehensive business verification and digital onboarding solutions to the TruNarrative App Store.

TruNarrative, kompany, business partnership, business verification, digital onboarding, TruNarrative App Stor, KYB, anti-money laundering

Regxsa launches could-based platform for financial institutions to fight financial crime

News | Digital Identity, Security & Online Fraud | 19 Nov 2020

Regxsa has launched Alexis, a cloud-based platform that aims to fight money laundering, terrorism financing, and financial crimes.

SaaS, AML, money laundering, terrorism financing, financial crimes, Regxsa, Alexis

Fighting financial fraud through innovation and collaboration, an interview with Ron Giammarco, EY

Interviews | Digital Identity, Security & Online Fraud | 19 Nov 2020

On October 5, 2020, Ron Giammarco, EY Americas Financial Crime Operations, Technology and Managed Services Leader, addressed the SIBOS audience on the topic of ‘Friction or fiction: compliance in a real-time world.’

Ron Giammarco, EY, KYC, AML, financial crime, money laundering, AI, compliance, biometrics, fintechs, banks, Sibos

HAWK:AI, BANKSapi team up to fight money laundering

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

Anti-money laundering software provider HAWK:AI has teamed up with Open Banking provider BANKSapi to fight money laundering.

HAWK:AI, BANKSapi, partnership, money laundering, AML, CFT, SaaS, Germany, open banking, regtech, financial crime

EUR 4 million seized in large money-laundering bust in France

News | Digital Identity, Security & Online Fraud | 16 Nov 2020

An 18-month investigation led by the French National Gendarmerie (Gendarmerie Nationale) and supported by Europol put an end to a large money-laundering network.

EFECC, French National Gendarmerie, Europol, money laundering, criminal organisation, financial crime, France

EBA publishes opinion on considering ML/TF risks in review processes

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

The European Banking Authority (EBA) has published an Opinion setting out how prudential supervisors should consider money laundering and terrorist financing (ML/TF) risks in the context of the Supervisory Review and Evaluation Process (SREP).

AML, CFT, risk management, money laundering, EBA, SREP

Surecomp Marketplace now live with anti-money laundering solution ThetaRay

News | Digital Identity, Security & Online Fraud | 30 Oct 2020

Surecomp, provider of global trade finance solutions for banks and corporates, has announced a partnership with ThetaRay on its Marketplace platform.

Surecomp, business partnership, ThetaRay, Marketplace, financial crime, anti-money laundering, AML, machine learning, digital risk management, fraud

Lithuania approves Centre of Excellence in Anti-Money Laundering

News | Digital Identity, Security & Online Fraud | 29 Oct 2020

The Lithuanian government has approved the the establishment of the Centre of Excellence in Anti-Money Laundering, a public-private project initiated by the Bank of Lithuania.

Lithuania, AML, anti-money laundering, Bank of Lithuania, CTF, counter terrorism financing

Inside the business of cybercrime – exclusive interview with Jonathan Lusthaus, RiskConnect speaker

Interviews | Digital Identity, Security & Online Fraud | 29 Oct 2020

Ahead of RiskConnect 2020 edition, The Paypers sat with Jonathan Lusthaus, Director of The Human Cybercriminal Project at the Extra-Legal Governance Institute, University of Oxford to discuss the ‘human’ side of profit-driven cybercrime and learn about cybercrime markets

RiskConnect, Human Cybercriminal Project, Oxford University, cybercrime, Web Shield, risk, compliance, cybercriminals, fraud, money laundering, scams, malware, banking fraud, credit card fraud

Goldman Sachs to settle on 1MDB money laundering and bribery scandal

News | Digital Identity, Security & Online Fraud | 22 Oct 2020

Goldman Sachs has agreed with the Department of Justice (DOJ) to pay over USD 2 billion for the bank’s role in Malaysia's multi-billion-dollar scandal at state fund 1MDB, Bloomberg first reported.

Goldman Sachs, DOJ, Malaysia, money laundering, bribery, corruption, banks, 1MDB

20 arrests in QQAAZZ multi-million money laundering case

News | Digital Identity, Security & Online Fraud | 16 Oct 2020

20 individuals suspected of belonging to the QQAAZZ criminal network which attempted to launder tens of millions of euros on behalf of the world’s foremost cybercriminals have been arrested.

cybercriminals, Europol, fraud prevention, bank accounts, money laundering, cryptocurrency, banks, QQAAZZ, tumbling services

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

Central banks set out to regulate stablecoins like Facebook's Libra

News | Cryptocurrencies | 13 Oct 2020

Central banks have set out to regulate cross-border stablecoins with a common approach, adding that more rules may later be needed to ensure stability.

stablecoins, cryptocurrency, Libra, Facebook, banks, central banks, CBDC, bank capital, anti-money laundering, regulation

Crypto to pose challenges to law enforcement activities, according to DOJ

News | Cryptocurrencies | 12 Oct 2020

Cryptocurrencies pose an emerging challenge to law enforcement activities; the US Attorney General William Barr’s Department of Justice (DOJ) has mentioned in DOJ’s ‘Crypto Enforcement Framework’.

Financial Action Task Force, cryptocurrency, money laundering, digital assets, DOJ, US, virtual assets, blockchains

Banks, governments, and crypto industry divided on cryptocurrency risk, survey reveals

News | Cryptocurrencies | 02 Oct 2020

Professionals in the crypto industry believe that governments are behind the curve on the perceived risks, opportunities, and regulation of cryptocurrency, according to a new survey by RUSI and ACAMS.

RUSI, ACAMS, study, YouGov, FATF, cryptocurrency, crypto risk, money laundering, trafficking, banks, transactions, blockchain

Bank of Lithuania calls for a uniform EU-level approach to fight money laundering

News | Digital Identity, Security & Online Fraud | 01 Oct 2020

The Bank of Lithuania has evaluated EU’s proposal for a common supervisory framework (mechanism) and calls for a uniform EU-level approach to fight money laundering.

Bank of Lithuania, KYC, money laundering, compliance, regulation, payments, banking, fraud prevention, entities

Global financial system again under scrutiny: FinCen leaks

News | Payments General | 29 Sep 2020

Reports on USD 2 trillion worth of suspicious transactions facilitated by major lenders and other financial institutions have been leaked.

FinCen leaks, money laundering, compliance, banks, fines, Deutsche Bank, JPMorgan, Standard Chartered, HSBC, Barclays, BNY Mellon, Societe Generale, SAR, KYC, account opening, CDD

British data intelligence Ripjar gets EUR 31 million to fight financial crime

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

Ripjar, a UK-based data intelligence company, has raised around EUR 31 million in Series B funding from Long Ridge Equity Partners.

data intelligence, Ripjar, AI, artificial intelligence, criminal threats, money laundering, fraud, funding, data intelligence platform, UK

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