Video: Top fintech stories this week – 06 December 2019
FinTech Future’s weekly news round-up.
Financial Crime & Fraud
US DOJ digs deeper into Deutsche role in Danske money laundering scandal
Deutsche officials were made aware that the scope of the DoJ probe had broadened.
Westpac hires familiar tech partner IBM to probe its AML bust up
Westpac has been using IBM’s infrastructure since the 1990s.
Where has trust gone – can banks even recover their standing in the community?
Traditional banks might find themselves facing a future where the front doors are locked for them!
Video: Top fintech stories this week – 29 November 2019
FinTech Future’s weekly news round-up.
IMF to put Nordic banks’ AML controls under microscope
International regulator investigates banks’ alleged failings.
Customer involvement in fraud mitigation
Pressure for speed has impacted the time available to ensure accuracy.
FIS integrates IBM to help clients counter fraud
IBM Safer Payments has been installed in FIS’s P2P solutions
Spanish cybersecurity start-up Buguroo raises $11m
The start-up builds unique “cyber profiles” for each finserv customer.
Video: Top fintech stories this week – 22 November 2019
FinTech Future’s weekly news round-up.
Fraud reimbursement plan stalls with lack of industry consensus
Pay.UK calls on banks to come together and back creation of central fund.
Why has Lithuania become a key destination for licensing in Europe?
As part of its newly devised strategy, Lithuania put several tools in place.
Video: Top fintech stories this week – 15 November 2019
FinTech Future’s weekly news round-up.
AML start-up Silent Eight raises $6.2m in Series A funding
The round included Standard Chartered’s SC Ventures.
Standard Chartered taps Quantexa to boost AML controls
Dynamic entity resolution and network analytics to be implemented at the bank.
BFS Capital swings in new ex-axe throwing exec
The new COO comes from an international axe throwing event company.
Immersive Labs lands $40m investment round, opens Boston office
The start-up sees clear demand for cybersecurity support in North America.
Israel’s anti-fraud fintech Riskified reaches unicorn status with $165m fundraising
The round was led by General Atlantic.
Cryptocurrencies and the critical vulnerability of a 51% attack
The processes, the vulnerabilities, and the dangers broken down.
Payment fraud in sights of UK cybersecurity force
The NCSC claims Operation Haulster is helping banks proactively prevent fraud.
UniCredit reports data breach affecting three million accounts
The data leak stems from a four-year old file.
Investor rights lawyers investigate Wirecard securities fraud
Earlier this year, white-collar crime investigators raided Wirecard’s offices in Singapore.
Finovate Podcast: Epsiodes 1-10
Catch up on the latest Finovate Podacast espisodes.
US regulators remind FIs of AML obligations for digital assets
The CFTC, SEC and FinCEN point to AML/CFT requirements for digital assets.
Libra: Already a victim of fraud
According to the Facebook model, you steal a little and they bank the ad revenue.
Amex admits to data breach from employee trying to commit fraud
Card numbers and social security numbers were compromised.
Banks’ culture and governance next target for Australian regulators
There will be “deep dive” reviews if firms don’t deliver.
Russia’s Sberbank catches internal culprit of data leak
The leak could have affected at least 200 of its customers.
Bottomline’s merger with EPG sparks UK regulators to investigate impact to competition
The CMA worries the merger will “result in a substantial lessening of competition”.
PayExpo 2019: We will be taking action, says FCA on insufficient safeguarding
The regulators found banks are delaying safeguarding precautions.
ESAs identify weaknesses leaving high-volume transaction firms open to money laundering risks
The three European Supervisory Authorities (ESAs) publish their second joint opinion.
Majority of UK SMBs consider late payments “corporate crime”
55% put the ‘crime’ on a par with fraud.
Millennials more likely to report fraud than older generations, finds FTC
People aged 20-30 happier to report scams than those over 40.
Sibos 2019: Final wrap-up of talks, interviews and daily news
See our final wrap-up of the London-hosted four day event!
ABN Amro under investigation for anti-money laundering failures
European crackdown on money laundering continues.
UK banks halt £820m of fraud in the first half of 2019
Figure means an increase of 14% in blocked criminal transactions.
HSBC deploys industry first automated AML system
New software developed by AI firm Quantexa.
FICO fights financial crime with Falcon X
A unified environment for the detection and investigation of both fraud and financial crimes.
CFPB puts Bank of America under fake accounts microscope
The regulator has been investigating BofA since March 2019.
Research reveals Belgium issued 95% of AML fines in last four months
Authorities handed down three AML-related fines May, totaling to $336.7 million.
