Articles with tag like: money laundering

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SRA reports GBP 200 mln in money laundering activities

News | Digital Identity, Security & Online Fraud | 05 Apr 2021

The Solicitors Regulation Authority (SRA) has made 26 reports of suspected money laundering in 2020 involving more than GBP 200 million in possible criminal proceeds.

money laundering, fraud detection, AML

Deutsche Bank sanctioned by South African Reserve Bank over compliance weaknesses

News | Digital Identity, Security & Online Fraud | 05 Apr 2021

The South African Reserve Bank (SARB) has imposed administrative sanctions on Deutsche Bank in Johannesburg.

money laundering, financial crime, compliance, central bank

Hungarian authorities break up EUR 8 mln VAT fraud scheme

News | Digital Identity, Security & Online Fraud | 01 Apr 2021

The Hungarian National Tax and Customs Administration (NTCA) has dismantled an organised criminal group (OCG) suspected of facilitating VAT fraud and money laundering.

Europol, fraud detection, fraud management, money laundering

Sumsub invests USD 1 mln in software development

News | Digital Identity, Security & Online Fraud | 31 Mar 2021

Sumsub, a startup that helps companies fight money laundering and online fraud, has invested over USD 1 million in software development.

digital onboarding, product launch, startup, money laundering, online fraud, identity verification, digital banking, API, deep fake, biometrics

Money laundering regime extends to Bitcoin from April 2021 in Ireland

News | Cryptocurrencies | 26 Mar 2021

Cryptocurrency service providers in Ireland will have to comply with money laundering rules and other basic regulations for the first time starting with April 2021.

money laundering, cryptocurrency, cryptocurrency exchange, AML, AMLD6, KYC

Financial crime compliance costs increased 20.6% across APAC, LexisNexis shows

News | Digital Identity, Security & Online Fraud | 24 Mar 2021

LexisNexis Risk Solutions has released the findings of its latest True Cost of Financial Crime Compliance Study – the APAC edition.

study, financial crime, COVID-19, KYC, money laundering, compliance, AML, transaction monitoring

Feedzai valued at USD 1 billion in KKR-led funding round

News | Digital Identity, Security & Online Fraud | 24 Mar 2021

Financial technology group Feedzai had raised USD 200 million in a round led by investment company KKR valuing the startup at more than USD 1 billion.

Feedzai, funding, artificial intelligence, money laundering, AML, banks

South Korea's anti-money laundering rules to be live on 25 March

News | Cryptocurrencies | 23 Mar 2021

The Financial Services Commission (FSC) has announced that South Korea’s anti-money laundering safeguards for cryptocurrency businesses will come into effect on 25 March 2021.

cryptocurrency, cryptocurrency exchange, money laundering, AML, virtual asset, regulation

Lekkerland and epay launch digital ID solution for prepaid cards

News | Digital Identity, Security & Online Fraud | 18 Mar 2021

Germany-based convenience sector solutions provider Lekkerland and online payment platform epay have announced an identification solution called ‘Sofort ID’ for prepaid cards.

identity verification, digital identity, money laundering, online payments, credit card

FCA starts criminal proceedings against NatWest

News | Digital Identity, Security & Online Fraud | 16 Mar 2021

The Financial Conduct Authority (FCA) has started criminal proceedings against NatWest over allegedly failing to comply with money laundering rules.

FCA, money laundering, banks, AML

Bitcoin ATMs used for money laundering, according to DEA

News | Cryptocurrencies | 08 Mar 2021

During 2020 drug traffickers relied on Bitcoin automated teller machines (ATMs) to carry out illicit money transfers, according to the Drug Enforcement Administration (DEA) of the US Department of Justice.

cryptocurrency, Bitcoin, ATM, money laundering

The transformative role of regtech to fight financial crime

Interviews | Digital Identity, Security & Online Fraud | 03 Mar 2021

The Paypers sat with Abhishek Chatterjee, CEO of Tookitaki, to learn how regtech solutions like Tookitaki can help banks better screen transactions for potential money laundering activities using big data and AI

artificial intelligence, regtech, money laundering, AML, machine learning, transaction monitoring, financial services

EBA publishes guidelines on ML/TF risk factors

News | Digital Identity, Security & Online Fraud | 02 Mar 2021

The EBA has published its final revised Guidelines on money laundering and terrorist financing risk factors. 

EBA, money laundering, terrorist financing, AML, PISP, AISP, financial institutions

North Korean hackers charged by the US for stealing from global financial institutions

News | Digital Identity, Security & Online Fraud | 19 Feb 2021

The US Justice Department has charged three North Korean computer programmers for stealing from global financial institutions and firms over USD 1.3 billion.

US Justice Department, hackers, money laundering, cryptocurrency, cyber attacks

Bank of Canada reveals three digital currency proposals

News | Cryptocurrencies | 12 Feb 2021

Top three Canadian universities have published their proposals regarding a digital currency model, as part of Bank of Canada (BoC)’s foray into CBDCs.

Bank of Canada, digital currency, tokenisation, digital dollar, CBDC, data privacy, money laundering, eKYC, digital identity, tokens

Governments must take more active role in AML efforts: ACAMS survey

News | Digital Identity, Security & Online Fraud | 12 Feb 2021

Financial institutions welcome plans to regulate firms for anti-money laundering (AML) efficacy but say more input is needed from governmental officials.

fintech, regtech, cryptocurrency, AML, money laundering, financial crime, data, FinCEN, SAR, law enforcement, ACAMS

Goldman Sachs to comply with AML rules, BaFin rules

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

Germany-based financial watchdog BaFin has ordered Goldman Sachs’ Europe-based arm to comply with rules to prevent money laundering and terrorist financing, according to

BaFin, Goldman Sachs, AML, money laundering, regulator, Germany, financial watchdog, terrorist financing, KYC, Know Your Customer

Hidden frauds that translate into marketplace losses

Voice of the Industry | Digital Identity, Security & Online Fraud | 04 Feb 2021

Jeremy Gottschalk of Marketplace Risk presents the variables that explain the increase in marketplace fraud and types of fraud that have proliferated during the pandemic

Marketplace risk, online fraud, ecommerce, sharing economy, money laundering

Web Shield launches Online Academy for underwriters

News | Digital Identity, Security & Online Fraud | 29 Jan 2021

Web Shield has launched its Online Academy, an online course aimed at the risk, compliance, and anti-fraud training market.

money laundering, deceptive marketing, Credit Card Risk, Web Shield, Online Academy, risk management, financial crime, underwriters, risk, compliance, regtech

ABN Amro close to money laundering probe settlement

News | Payments General | 25 Jan 2021

Dutch bank ABN Amro is close to money laundering probe settlement over allegations it failed to report or probe suspicious transactions by its clients for years, FCCED cited the FD newspaper.

ABN AMRO, money laundering, suspicious activity, ING, fines, financial crimes, AML, banking