Swift has created a dedicated Financial Compliance Services unit to manage a growing number of service offerings. The new unit will focus initially on the development of a Know Your Customer Registry planned for launch later this year as well as the integration and development of existing services.
After a long wait, the first real FATCA implementation deadlines are just around the corner. To meet the new account identification requirements, by 1 January 2014, institutions should be in the process of implementing the necessary upgrades in their onboarding and overall compliance systems and processes.
Regulators are busy raising the bar for KYC systems and controls. With conflicting purposes and customer data objectives, new guidance and industry solutions are needed in 2014
Indonesian bank PT Bank Central Asia Tbk has adopted an anti-money laundering toolkit from specialist security firm Nice Actimize, to help the bank monitor for suspicious market activity and ensure regulatory compliance.
FircoSoft has signed a partnership with Indian IT services specialist iSolve to resell its watch list filtering products to financial institutions in India, where anti-money regulations are tightening. iSolve already sells compliance solutions to financial institutions in India, making the addition of FircoSoft’s filtering solutions to iSolve’s portfolio a logical step. It will be mainly targeting […]
As the global payments markets changes, Western Union has plans to change with it. Massimiliano Alvisini, regional director UK, Ireland & Nordics explains how and why.
Banks worldwide have been struggling in the battle against financial crime. Recent high-profile examples demonstrate that the rate of anti-money laundering compliance enforcement is continuing to rise.
The Financial Services Authority has instructed HSBC to set-up a board-level committee with a mandate to oversee matters relating to anti-money laundering, sanctions, terrorist financing and proliferation financing.
