JP Morgan Chase fined by Hong Kong regulator for money laundering fails
Anti-money laundering and counter-terrorist financing not up to scratch.
Anti-Money Laundering/AML
Top fintech stories this week – 21 December 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
UBS fined $15m for AML malpractices
Bank hit by a trio of regulators for money laundering fails.
Estonia arrests ex-Danske staff over money laundering case
Ten former employees feel the heat in Tallinn.
Malaysia files criminal charges against Goldman Sachs over 1MDB misuse
Bank denies wrongdoing – charges due to misappropriation of $2.7 billion from bonds.
Can automation transform trade finance?
How automation could provide benefits for both bank and corporate clients.
International Bank of Azerbaijan goes FICO for financial crime fight
Bank up for battle against money laundering and terrorist financing.
US regulators rouse banks to AML innovation
Banks get love and tech support to strengthen the financial system.
European Council seeks better AML game
It has released an action plan to tackle this crime.
Deutsche Bank offices raided over money laundering affair
Bank says this is in connection with the “Panama Papers”.
Cathay Bank picks QuantaVerse to combat crime
Sino-American bank selects a range of AI-based anti-financial crime solutions.
Deutsche Bank shares plummet over Danske money laundering mess
The bank’s shares have fallen 48% this year.
Singapore regulator makes payments top Bill-ing
Monetary Authority of Singapore finalises its Payment Services Bill.
South African Reserve Bank fines HSBC $1m for AML fails
There were “certain weaknesses” in its detection of money laundering.
EC gets cross with Malta over AML supervision
Don’t forget the fourth Anti-Money Laundering Directive.
“Almost all” Pakistani banks hacked
Pakistani Federal Investigation Agency reveals security breach.
First National Bank of Lebanon centralises compliance systems with FICO
FNB has migrated to the FICO Tonbeller Siron anti financial crimes suite.
Knowing your customer: blockchain’s ultimate killer app?
Abbas Ali, associate director, R3, wants you to be in the know about KYC matters.
Sibos 2018: AML struggles amidst new payment methods
Communication seems to be the theme, again.
Brickblock teams with solarisBank and JTC for blockchain real estate projects
Putting real estate investments on a blockchain.
Danske Bank talking to US over €200bn money laundering case
Department of Justice would like to ask some questions.
Arachnys gets $10m funding in its web
The regtech’s funding was led by QED.
How is AI transforming financial institutions?
Artificial intelligence is set to become central to the fabric of institutions.
PwC acquires FSCom’s regtech solution
Consultancy firm now owns KYC-Pro.
Live chat in banking: recording conversations for compliance
Live chat offers a flexible, transparent and secure tool for recording customer conversations.
Danske Bank’s CEO resigns over money laundering crisis
Related to €200 billion in possible money laundering in Estonia.
No mystery as BB&T invests $5m in data firm Enigma
This is BB&T’s first outlay of its $50m fintech commitment.
Euro banking watchdog gets anti-money laundering bite
Oh European Banking Authority, what big teeth you have!
Abu Dhabi regulator tightens up funding rules
ADGM also teams with Beijing-based firm for Belt and Road initiative.
IdentityMind unveils regtech webstore
Will let companies integrate compliance and regulatory technologies into their solutions.
Financial crime fighters unleash intelligence sharing platform in UK
Acronyms assemble! PIMFA and FCI launch PIMFA-AECIS platform.
Switzerland relaxes AML rules for small fintech firms
For companies with gross revenues of less than CHF 1.5m ($1.53m).
Big data start-up Quantexa raises $20m for big plans
Series B funding round led by Dawn Capital.
Welsh KYC firm W2 Global Data raises £1.25m funding
Company also provides AML and fraud prevention solutions.
Accuity safely acquires Safe Banking Systems
With SBS it gets KYC and AML solutions.
Fortytwo Data upgrades entity screening platform
Sanction Screening Augmentation platform gets augmented.
Cyber solution provider ThetaRay gets $30m funding
Investment takes company’s total equity capital to more than $60 million.
Blockbid teams turns to LexisNexis for AML compliance
Blockbid shoring up its AML safeguards by turning to LexisNexus Risk Solutions’ ThreatMetrix.
Temenos on M&A trail to grow US business
Anti-money laundering (AML), fraud and wealth management are the focus areas.
US sanctions impact on Hong Kong fintech
The stakes could not be higher.
