Articles with tag like: money laundering

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Central banks of UAE and Indonesia join forces to boost payment systems

News | Payments General | 30 Nov 2021

Central Bank of Indonesia and that of the United Arab Emirates have signed a memorandum to improve payment system cooperation.

partnership, central bank, online payments, contactless payments, money laundering

Chinese police arrests criminal group for CBDC money laundering

News | Cryptocurrencies | 10 Nov 2021

Chinese officials have arrested members of a criminal group charged with alleged money laundering using the country’s CBDC, the digital yuan. 

CBDC, money laundering, fraud prevention

The importance of investigations solutions for crypto service providers

Voice of the Industry | Cryptocurrencies | 10 Nov 2021

Scott Pounder, Head of Investigations at Crystal Blockchain, explains the importance of having an Investigation-as-a-Service solution if you are a bank, FI, or crypto service provider

money laundering, blockchain, AML, cryptocurrency, compliance, KYC

Zimbabwe looking to adopt cryptocurrency as legal payment

News | Cryptocurrencies | 09 Nov 2021

The Zimbabwean government has started looking into how cryptocurrencies could be used in legal payment services.

cryptocurrency, regulation, money laundering

Danske Bank criticised by Sweden's financial regulator

News | Digital Identity, Security & Online Fraud | 21 Oct 2021

Sweden’s financial regulator has slammed Danske Bank for failing to overcome controls failures following a money laundering scandal.

regulation, AML, fraud prevention, money laundering

'Financial crime is an epidemic' – exclusive interview with Oliver Bullough

Interviews | Digital Identity, Security & Online Fraud | 28 Sep 2021

Ahead of RiskConnect, The Virtual Risk & Compliance Conference, The Paypers sat with Oliver Bullough, author, and freelance journalist, who writes about financial crime to find out what Moneyland is

financial crime, tax evasion , bribery, corruption, money laundering

AMLD5 and prepaid cards: what has changed?

Voice of the Industry | Digital Identity, Security & Online Fraud | 28 Sep 2021

The changes with regards to AMLD5 on prepaid card transactions represent key information for the payments ecosystem, especially on the way it could impact the payment acceptance rate. Using his expertise in the field of legal consulting, Timelex's Niels Vandezande sheds light on the new rules and exceptions around this law

AML, prepaid card, money laundering, regulation, CDD

Financial crime – any sign of winning the battle?

Voice of the Industry | Digital Identity, Security & Online Fraud | 10 Sep 2021

With regulators focusing on fighting financial crime, by bringing more accountability and transparency with more stringency on KYC, Verity Snelson from Encompass shares what lessons can be learned from the past

KYC, financial crime, regulation, money laundering, fintech

UK's Financial Intelligence Unit publishes latest guide on SAR submissions

News | Digital Identity, Security & Online Fraud | 23 Aug 2021

The UK’s Financial Intelligence Unit (UKFIU) has published its guide on how suspicious activity report (SAR) intelligence is being used by law enforcement, aiming to demonstrate SAR filing best practices.

risk management, compliance, money laundering, AML, regtech

AML enforcement isn't slowed by pandemic, reveals Kroll

News | Digital Identity, Security & Online Fraud | 23 Aug 2021

The COVID-19 pandemic has not stunted global enforcement action for anti-money laundering (AML) failings, according to Kroll.


money laundering, AML, compliance, risk management, study

FCA warns banks over money laundering failings

News | Digital Identity, Security & Online Fraud | 13 Jul 2021

UK-based Financial Conduct Authority (FCA) has issued warning letters to retail banks due to ongoing weaknesses and failings around their financial crime controls, according to Fintech Global.

FCA, money laundering, risk management, financial crime, transaction monitoring

Central Bank of UAE urges FIs to do appropriate CDD to real estate, precious metals and stones businesses

News | Digital Identity, Security & Online Fraud | 30 Jun 2021

The Central Bank of the UAE (CBUAE) has demanded financial institutions (FIs) providing financial services to real estate, precious metals, and stones businesses to specifically assess money laundering and financing of terrorism risks.

central bank, CDD, AML, money laundering

Binance helps in taking down USD 500 mln cybercrime case

News | Digital Identity, Security & Online Fraud | 25 Jun 2021

Binance, a cryptocurrency exchange, has taken down a USD 500 million cybercrime case with the help of international law enforcement.

money laundering, cybercrime, AML, fraud prevention

Advancing modern financial crime prevention with KYC utilities – interview with Invidem

Interviews | Payments General | 25 Jun 2021

Marit Bø Bornstein, CEO of Invidem, shares with The Paypers how the Nordic banks tackled the KYC cost and efficiency dilemma using a KYC utility

KYC, AML, banks, money laundering, digital onboarding

Trust is hard to gain but easy to lose - a bank's reputation

Voice of the Industry | Digital Identity, Security & Online Fraud | 23 Jun 2021

Customers do not want to keep their money with a bank/financial institution that they do not trust

banks, trust, compliance, AML, KYC, money laundering, regtech

ThetaRay teams up with Google Cloud for cross-border payments AML

News | Digital Identity, Security & Online Fraud | 15 Jun 2021

ThetaRay, a provider of AI-based Big Data analytics, has teamed up with Google Cloud for cross-border payments AML.

artificial intelligence, AML, money laundering, transaction monitoring, cloud services, partnership

HK bankers allowed to apply for access to corporate registry

News | Digital Identity, Security & Online Fraud | 14 Jun 2021

Hong Kong bankers and lawyers will be able to search the city's companies’ registry under proposed exemptions to plans to tighten public access to the database, according to Reuters.

money laundering, KYC, compliance, data protection

Firma upgrades anti-financial crime services with Napier

News | Digital Identity, Security & Online Fraud | 14 Jun 2021

Firma, a foreign exchange and global payments company Canada-based, has selected Napier, a provider of anti-financial crime compliance solutions.

partnership, artificial intelligence, money laundering, AML, Napier, risk management

EU takes Luxembourg to court over AML noncompliance

News | Digital Identity, Security & Online Fraud | 14 Jun 2021

The European Commission has taken Luxembourg to court, asking the European Court of Justice (ECJ) to impose a daily penalty on the country for failing to follow EU AML regulations.

European Commission, AML, fraud prevention, money laundering

Obligations for Canadian businesses dealing in virtual currencies take effect

News | Cryptocurrencies | 08 Jun 2021

Amendments to the Proceeds of Crime - Money Laundering and Terrorist Financing Act (PCMLTFA) have come into effect begging of June 2021.

cryptocurrency, AML, money laundering, compliance, money transfer