Articles with tag: money laundering

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FV Bank launches international online services

31 Jul 2020 | Online & Mobile Banking

FV Bank has launched its online FV Bank, which will offer individual and business accounts to international clients through an online banking platform.

FV Bank, banks, online, online banking, fintech, digital, US, ecommerce, digital banking, banking, onboarding, artificial intelligence, machine learning, AI, AML, anti-money laundering

Former Malaysian PM charged with money laundering, abuse of power

28 Jul 2020 | Digital Identity, Security & Online Fraud

Former Malaysian PM Najib Razak has been found guilty of all seven charges in the first of several multi-million-dollar corruption trials, according to BBC.

money laundering, corruption, power abuse, tax evasion, illegal funding, Malaysia, banking, PM, Najib Razak

Westpac to form new group operating office, following money laundering accusations

28 Jul 2020 | Digital Identity, Security & Online Fraud

Westpac has announced the creation of a new group operating office, following money laundering accusations.

Westpac, money laundering, Austrac, banks, fraud prevention, international funds transfers, human error, Australia

Trulioo recommends payment apps to improve security against COVID-19 fraud

24 Jul 2020 | Digital Identity, Security & Online Fraud

Trulioo has released an Anti-Money Laundering and Know Your Customer (KYC) report that tracks fraudulent activity during the pandemic.

Trulioo, Anti-Money Laundering, AML, Know Your Customer, KYC, report, fraudulent activity, COVID-19, cybercriminals, payment apps, online transactions, biometrics, account takeover, Westpac Banking Corporation, customer onboarding

Quantexa raises USD 64.7 million to boost big data and analytics ecosystem

23 Jul 2020 | Digital Identity, Security & Online Fraud

Quantexa, a contextual decision intelligence software company, has closed a Series C round, raising a further USD 64.7 million in funding.

Quantexa, money laundering, financial crime, data analytics, big data, Contextual Decision Intelligence, funding

The Wirecard scandal - how digitalisation can be marshalled to tackle money launderers

23 Jul 2020 | Digital Identity, Security & Online Fraud

In the future, banks that are not as internationally networked in money laundering prevention as the perpetrators will remain easy to outsmart

HAWK:AI, AML, CFT, FIU, financial crime, money laundering, Tobias Schweiger, AI, machine learning, digitalisation, fraud prevention, Wirecard scandal, FATF, Bafin, Germany, Wirecard Bank

Grasshopper Bank Selects Alessa for AML compliance

13 Jul 2020 | Digital Identity, Security & Online Fraud

Grasshopper Bank has selected Alessa for anti-money laundering compliance in the Microsoft Azure cloud.

Grasshopper Bank, banks, Alessa, AML, anti-money laundering, Microsoft Azure, cloud, KYC, customer identification program, CIP, transactions, SAR/CTR, FinCEN

ACAMS launches KYC certification for operations teams

10 Jul 2020 | Digital Identity, Security & Online Fraud

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

Five Dutch banks partner to fight against money laundering

10 Jul 2020 | Digital Identity, Security & Online Fraud

ING, ABN Amro, Rabobank, Triodos Bank and Volksbank have teamed up to establish Transaction Monitoring Netherlands (TMNL) initiative to fight against money laundering and terrorism financing.

banks, partnership, money laundering, ING, ABN Amro, Rabobank, Triodos Bank, Volksbank, Transactions Monitoring Netherlands, TMNL, terrorism financing, payments, transactions, Ministries of Finance and Justice and Security, FIOD, Financial Intelligence Unit, FIU

Italy and Romania take down cyber fraud ring

07 Jul 2020 | Digital Identity, Security & Online Fraud

The Italian National Postal and Communication Police Unit and the Romanian National Police, supported by Europol and Eurojust, have dismantled an organised criminal group involved in financial fraud, cybercrime, and money laundering.

Europol, Eurojust, CEO fraud, organised criminal group, financial fraud, cybercrime, money laundering, money mules, Italy, Romania

Credorax partners with Feedzai for anti-money laundering solution

30 Jun 2020 | Digital Identity, Security & Online Fraud

Credorax has partnered with risk management platform Feedzai to provide Credorax merchants with advanced anti-money laundering (AML) and anti-fraud capabilities. 

Credorax, Feedzai, merchants, anti-money laundering, AML, machine learning, ML, payments flow, compliance, manual checks

Bitcoin ATM growth may benefit money launderers, report

25 Jun 2020 | Cryptocurrencies

Analytics company CipherTrace has reported that as the number of Bitcoin ATMs increases, they can be used to sidestep anti-money laundering (AML) controls.

Bitcoin ATMs, money laundering, ML, anti-money laundering, AML, CipherTrace, analytics, high-risk exchanges, cryptocurrency, bank cards, cash, digital wallet, offshore, KYC, US, FinCEN, Travel Rule

ING rolls out FATF-friendly protocol for crypto exchanges

24 Jun 2020 | Cryptocurrencies

ING has developed a protocol to assist with the Financial Action Task Force’s Travel Rule requirement for crypto transfers and companies dealing with digital assets.

ING, FATF, protocol, crypto, exchange, crypto transfer, Travel Rule, digital assets, Standard Chartered Bank, Fidelity Digital Assets, BitGo, VASPs, anti-money laundering, InterVASP, IVMS-101, RESTful, API, data transfer

HSBC joins Privitar's funding round to automate the enforcement of data privacy policies

24 Jun 2020 | Payments General

HSBC has joined Privitar's Series C funding round, extending it to GBP 70 million, to support the development of tools that automate the enforcement of data privacy policies.

HSBC, funding, GDPR, money laundering, data, data privacy, cloud, banking, fintech

EBA calls for input to understand the impact of de-risking

15 Jun 2020 | Digital Identity, Security & Online Fraud

The European Banking Authority (EBA) has issued a call for input to understand the scale and drivers of ‘de-risking’ at EU level and its impact on customers. 

EBA, financial, financial institutions, banks, The European Banking Authority, de-risking, Europe, money laundering, banking, NGOs

Denmark proposes tougher qualifications for bankers to prevent money laundering

11 Jun 2020 | Payments General

Denmark has proposed tougher qualifications for bankers hired to prevent money laundering as part of efforts to prevent a repeat of the Danske Bank scandal.

money laundering scandal, AML, Denmark, financial crime, banks, financial institutions, transactions, bankers, Danske Bank

ConsenSys rolls out compliance service for Ethereum blockchain tokens

10 Jun 2020 | Cryptocurrencies

ConsenSys has launched Codefi Compliance, a new compliance service designed to help exchanges and decentralised finance projects analyse trading activities of tokens issued on the Ethereum blockchain.

KYC, compliance, crypto exchange, money laundering checks, ConsenSys, Codefi, blockchain

Husbanken chooses Temenos to digitalise lending operations

04 Jun 2020 | Online & Mobile Banking

Norway-based State Housing Bank, Husbanken, has selected banking software provider Temenos to digitalise its lending processes.

Norway, Husbanken, Temenos, State Housing Bank, banks, banking, software, cloud, Temenos Transact, AI, technology, Temenos Financial Crime Mitigation, FCM, loans, anti-money laundering, fraud

Regxsa rolls out cloud-based solution Alexis to fight money laundering

04 Jun 2020 | Digital Identity, Security & Online Fraud

Regxsa, formerly known as AMLabc, together with Fortech have launched Alexis, a cloud-based solution, to bring the human factor back in the fight against financial crimes.

financial crime, money laundering, terrorism financing, investigations, data cloud, Fortech, Regxsa, AML, financial institutions

African Bank adopts Arctic Intelligence's solution, AML Accelerate

02 Jun 2020 | Online & Mobile Banking

African Bank has chosen Arctic Intelligence’s software, AML Accelerate, to enable completion of Anti-Money Laundering and Counter Terrorism Financing (AML/CTF) enterprise risk assessments. 

African Bank, regtech, Arctic Intelligence, AML, anti-money laundering, AML Accelerate, software, Counter Terrorism Financing, CTF, financial crime, technology