Revolut reportedly in talks with the UK’s FCA over AML failures
The fintech reportedly allowed funds to be released from accounts which were flagged as suspicious by the National Crime Agency (NCA).
Anti-Money Laundering/AML
GenAI: friend or foe in fraud risk management?
While tech advancements are made with the best intentions to improve our lives, criminals can also use it to their own benefit.
FinTech Futures: Top five stories of the week – 29 September 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
US Treasury Department enlists JP Morgan for account validation services
The department claims to have suffered $247 billion in financial losses last year due to “improper payments”.
GoTyme Bank taps Nice Actimize to fight financial crime
The bank aims to leverage Nice Actimize’s AI and analytics solutions in order to prevent financial crime and fraud.
SEC hands $25m penalty to Deutsche Bank subsidiary for AML violations and ESG “misstatements”
DWS Investment Management Americas Inc. has agreed to pay the penalty without admitting or denying the SEC’s charges.
Lithuanian credit union group Kreda taps Amlyze for AML and compliance services
It is the fifth industry partnership for Amlyze this year and succeeds its $1 million pre-seed funding round in May.
Onfido appoints Daniel Keller as chief technology officer
Keller joins Onfido from Europe’s Visable Group, where he served as CTO for over six years.
Sibos readies the industry to unlock the full force of AI
A variety of compelling panels led the event’s narrative on one of this year’s most trending topics.
Sibos 2023: The era of instant payments – global banks must turn to the latest technology
Innovative technologies are bringing the future of payments forward for banks.
FinTech Futures: Top five stories of the week – 15 September 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Bonifii’s new identity credential completes pilot with Lone Star Credit Union
The product is now expected to be offered to more credit unions and banks in the US.
Digital ID firm Signicat names Michel van den Bogaard as CFO
Based in Signicat’s Rotterdam office, van der Bogaard will lead a team of more than 35 people.
ICYMI fintech funding round-up: GenTwo, Momnt, myZoi, Treyd, Firstcard & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Israel’s ThetaRay secures $57m to accelerate global expansion
With the fresh investment, ThetaRay plans on expediting its international expansion “across continents”.
How the UK is making the fight against financial crime more connected than ever
The Economic Crime and Corporate Transparency Bill could revolutionise how the UK fights financial crime.
Heather Gantt-Evans joins Marqeta as chief information security officer
US Army Reserves veteran Gantt-Evans will lead the firm’s global corporate and product security strategies.
Video: What’s the next big thing in fintech?
We ask three experts what they think could be the next big thing that will completely transform the industry.
FinTech Founders Video: Anandhi Dhukaram, Esdha
Dr Anandhi Vivek Dhukaram PhD drops the advice she would give herself if she could go back to when she founded Esdha.
FullCircl reinforces compliance suite with W2 Global Data Solutions acquisition
Under the terms of the deal, W2 will now trade as ‘W2 by FullCircl’.
FinTech Futures: Top five stories of the week – 18 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
FinTech Futures: Top five stories of the week – 11 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
FCA warns consumers against loan fee fraudsters amid rising summer borrowing
The average loss to loan fee fraud in the UK is £260.
TransferGo hit with €310,000 fine from Bank of Lithuania for AML failings
UAB TransferGo Lithuania has already submitted a plan to the central bank to remedy the deficiencies.
European Commission brings in Moody’s Analytics to help fight fraud
Moody’s Analytics’ Orbis database is set to strengthen the European Commission’s anti-fraud efforts.
DFSA slaps $3m fine on Mirabaud for AML failings
Between June 2018 and October 2021, DFSA says it found weaknesses in Mirabaud’s AML systems and controls.
Trustmi aims to stamp out B2B payment fraud with global launch
The launch comes just days after the company secured $17 million in a Series A funding round.
FinTech Futures: Top five stories of the week – 28 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Germany’s N26 appoints new chief risk officer, Carina Kozole
Kozole, who will begin her new role later this year, has spent the last 17 years at UniCredit Group.
Banco Santander, BBVA and CaixaBank team up to tackle fraud with FrauDfense
FrauDfense is a new company set up to enable the exchange of information between the three banks.
Wirecard fugitive Jan Marsalek resurfaces with a message for the courts
The eight-page letter was delivered to a court in Munich through Marsalek’s defence lawyer.
Amazon set to roll out palm payment processing across all US Whole Foods stores
The Amazon One technology allows users to complete transactions using just their hand.
PSR delivers update on progress of New Payments Architecture
The PSR’s future direction on the NPA was outlined in its annual plan and budget for 2023/24.
Rapyd names Shlomit Wagman as global chief regulation and compliance officer
Wagman joins Rapyd from the Israel Money Laundering and Terror Financing Prohibition Authority (IMPA).
Deutsche Bank fined $186m by US Federal Reserve
The Fed says it found that Deutsche Bank made “insufficient remedial progress” in fixing its AML controls.
Germany’s BaFin provides updated order on the prevention of money laundering at N26
N26 will reportedly continue to be restricted to 50,000 new customer acquisitions per month.
Starling Bank taps Napier for transaction screening solution
Starling Bank will utilise Napier’s anti-money laundering (AML) and counter-terrorism financing (CTF) technology.
ThetaRay’s Sonar goes live on Microsoft Azure Marketplace
ThetaRay currently engages around one billion end users and monitors over 15 billion transactions per year.
Banking Tech Awards USA 2023 winner: Fincom – 90% cost reduction in AML sanctions screening
Fincom’s AML Sanctions Screening solution won the AML & Compliance Tech of the Future at the awards.
FinTech Futures: Top five stories of the week – 14 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
