Deutsche Bank’s suspicious transaction reporting hit by software glitch
The problem has prevented flagging for almost a decade.
Financial Crime & Fraud
Investors lost over £27m to crypto and forex scams last year
The FCA and Action Fraud aim to raise awareness of investment fraudsters.
KYC firm 4Stop raises $2.5m for fight against fraud
The Series A was led by Ventech.
Atom picks TruNarrative to provide AML solution
Atom was looking for a better way to manage false positives.
Data privacy firm QEDIT expands reach with three new partners
Follows QEDIT’s $10 million Series A investment round.
Crypto exchange Binance falls victim of $41m hack
It has since stopped trading to keep the market under control.
Fenergo supports Bahrain’s blockchain-based KYC
It will support retail and corporate banking, with other sectors in the future.
Santander plans UK’s first combined voice and phone ID authentication
Customers will create a unique “voice print” at enrolment.
Avant settles FTC unfair loan servicing charges for $3.85m
The online lender faced multiple charges of “deceptive” practices.
Video: fintech news weekly round-up – 23 April 2019
Facebook, Stripe, and Europe’s biggest IPO.
Dashlane raises $30m to up password protection
Dashlane is expanding its horizons with new features like password breach alerts and monitoring.
N26 under German regulator’s microscope
The BaFin has highlighted issues with staffing and communications.
White paper: FICO for fintech – Fraud and Compliance
Improve CX by building an agile defence ecosystem against financial crime.
PixelPin replaces password to log in with new £1.5m funding
The round was led by SBI Investment.
Varo Money gets NICE AML tech
AML and KYC for all mobile needs.
Onfido raises $50m for fraud battle boost
It brings the firm’s capital to more than $100 million.
UK’s Payments System Regulator presents 2019/20 annual plan
The UK regulator smoothens out open banking and fraud.
Sayata Labs attracts $6.5m seed funding for cyber insurance tech
Cyber risk assessment solution is described as ‘game-changing’.
Banking industry thwarted £1.66bn of fraud in 2018
But £1.2bn was stolen during the same period.
Tech giant SAS commits to £1bn AI investment in three years
It aims to develop new AI skills as well as teach customers how to use them.
HPS PowerCARD 2019: working together to tackle fraud
Why aren’t the banks collaborating or working together to combat fraud, should the regulator get involved?
A guide to digital identity verification: the tech and trends
Examine global trends in identity and technical insights into viable solutions.
Former MtGox boss gets suspended jail on account of data falsification
However, he was cleared of all other charges, including embezzlement.
US Fed bars ex-Goldman Sachs staff over 1MDB misuse
Two former employees are prohibited from the banking industry.
Wirecard under fraud investigation by Singapore police
One employee has been suspended until the inquiries conclude.
Fiserv powers NationalLink’s smart safe technology
To access the smart safes from anywhere.
RCBC files defamation suit against Bank of Bangladesh over 2016 cyberattack
The aftermath of the $81 million cyberheist lingers on.
OneCoin boss arrested for crypto fraud
The firm and its leaders are accused of creating a pyramid scheme.
UK crypto consumers completely clueless
FCA reveals findings from first cryptoassets research.
White paper: How to combat fraud in 3 easy steps
How are fraudsters slipping through the net and how to combat fraud?
How new AML tech is freezing the fraudsters
Over 90% of UK current accounts are now covered by the new Mule Insights Tactical Solution (MITS).
Shift Technology lands $60m funding for AI ambitions
Series C round brings total investment in insurtech to $100 million.
Signifyd unveils chargeback solution for merchants
“Friendly fraud” meets a feisty foe.
TAS Group acquires AI outfit Mantica
Gets its hands on AI and machine learning models for banking and fintech.
Empty wallets turn up in QuadrigaCX crypto exchange case
The death of its CEO has left a lot of unanswered questions.
Wells Fargo makes record $240m settlement over fake bank accounts
Bank officials denied wrongdoing in agreeing to the settlement.
QuadrigaCX crypto exchange court case calls for $30m payout
Judge’s decision in Canada follows the firm’s collapse in January.
Cyberattack keeps Bank of Valletta off grid
Maltese bank still dealing with cyberattack and theft of €13 million.
Hackers use fake Google reCAPTCHA to hide banking malware
Phishing campaign at Polish bank serves as a warning for us all.
StanChart braces for $900m fines over US and UK banking issues
Bank sets aside money for potential penalties over FX and crime controls.
