Tagged: aml

Everest’s Polygon Integration to Increase Access to Biometric Verifiers

Everest, a Fintech company with blockchain solutions for identity verification, eKYC, crypto custodianship, and financial services, this week announced an integration with Polygon, a leading platform for Ethereum scalability and infrastructure development. By making its EverChain fully interoperable with Polygon PoS chain, Everest brings its… Read More

Jumio, Provider of AI enhanced Identity Orchestration, AML Solutions, Closes 2021 with Record 130% Revenue Growth

Jumio, the provider of AI-enhanced end-to-end identity orchestration, eKYC and AML solutions, recently announced a record-breaking close to a solid 2021, with revenue growing by over 130% in Q4 2021 from Q4 2020. Other Q4 highlights for Jumio include 4Stop acquisition and introduction of no-code… Read More

Regtech: Uppsala Security Launches TOMS 2.0, an Updated Version of Threat Reputation Database On-Premise Management System

Uppsala Security has announced the launch of TOMS 2.0, which is an updated version of the already deployed Threat Reputation Database On-premise Management System (introduced at the end of March 2021). As mentioned in a release, the product was initially created to “address an increased… Read More

Tommy Nicholas from Alloy Says Firm Spends Considerable Time Thinking About Managing Interplay between Risk and UX

Tommy Nicholas, CEO at Alloy, which specializes in identity verification APIs that make KYC/AML “effective and simple,” says that he loves Fintech. Nicholas writes in a blog post that he believes the wide availability of “digital-first” consumer/SMB financial services helps “drive fees down, increases access… Read More

Regtech Firm Uppsala Security to Expand its Operations to Cover NFT Custody Area

Uppsala Security, a provider of security tools and services for Crypto AML/CTF, Transaction Risk Management, Regulatory Compliance, Transaction Tracking, and Cyber Security announced the expansion of their business in the NFT Custody area, a service that was “not available until now in South Korea.” As… Read More

CipherTrace Traveler Addresses Sunrise Problem for Digital Currency Travel Rule Compliance

The Financial Action Task Force (FATF) has reported that there are just 58 out of 128 reporting jurisdictions advising that they have implemented any of the updated FATF standards, including the “travel rule.” This reportedly aligns with what CipherTrace has found through their extensive work… Read More

Binance CEO Changpeng Zhao Explains Why Digital Asset Firm Welcomes Proper Regulations for Crypto Industry

Zhao Changpeng

Binance CEO Changpeng Zhao or CZ notes that there are many “misconceptions” out there about crypto and that he will address a few of them. For example, many people say that “Regulation is bad for crypto.” According to CZ, we should not hold such a simplistic… Read More

Lenders Beware: 2022 Could See Increased Enforcement Activity

2022 could see aggressive movement by some federal agencies, an experienced industry hand suggests. Joseph Lynyak III is a partner at the international law firm Dorsey & Whitney and one of the nation’s foremost experts in the country on the Consumer Financial Protection Bureau (CFPB),… Read More

UK’s FCA Fines HSBC Bank plc £63.9M for “Deficient” Transaction Monitoring Controls

The UK’s Financial Conduct Authority (FCA) has fined HSBC Bank plc £63,946,800 for “failings in its anti-money laundering processes.” As noted in an update from the FCA, HSBC used automated processes to “monitor hundreds of millions of transactions a month to identify possible financial crime.”… Read More

FinCEN Is Seeking Comments on Modernization of US AML/CFT Regulations

The Financial Crimes Enforcement Network (FinCEN), a bureau of the US Department of the Treasury that collects and analyzes information about financial transactions to combat money laundering, terrorist financing, and other financial crimes, is issuing a request for information (RFI) “seeking comments on ways to… Read More

ID Verification Firm Trulioo Announces New Customers that are Focused on Providing Solutions for Crypto Industry

Trulioo, the global identity verification service provider, has announced six new customers in the crypto industry: Centbee, GMO Trust, Omni Matrix, Skilling, Strike Protocols and Vintech Capital. GlobalGateway is one of the largest marketplaces for digital identity data and services, enabling organizations to “deploy identity… Read More

Hummingbird Regtech Welcomes $30M Series B, Plans to Grow Staff, Product Line

Hummingbird Regtech, a provider of risk and compliance technology, this week announced the company has raised $30 million in Series B funding. The raise brings the total venture backed funding total to $41.8 million, and follows Hummingbird’s $8.2 million Series A in 2020. This new… Read More

Regtech: Crypto AML/CTF Solution Provider, Uppsala Security, Partners with Matrix USA

Uppsala Security, a provider of security tools and services for Crypto AML/CTF, Transaction Risk Management, Regulatory Compliance, Transaction Tracking, and Cyber Security, has announced a new joint cooperation with Matrix USA, a US based firm that focuses on “building and strengthening business relationships in the… Read More

UK FCA Regulated Digital Securities Platform, Archax, Chooses Scila Surveillance, AML Tools

Archax, which claims to be the only UK Financial Conduct Authority (FCA) regulated digital securities platform, broker and custodian, has chosen Scila Surveillance and Scila AML for the effective monitoring of its markets, offered by the Stockholm-headquartered independent surveillance, risk and anti-money laundering tech provider,… Read More

UK based GB Group plc, a Digital Identity Firm, to Acquire Acuant, a KYC/AML Compliance Provider

GB Group plc (AIM:GBG), which claims to be an expert in digital location, identity and identity fraud software, has announced that it reached an agreement to acquire Acuant, an identity verification and KYC/AML compliance provider, for a cash-free, “debt-free” enterprise value of $736 million. The… Read More

Central Bank of UAE and Bank Indonesia Sign MoU, Focusing on Digital Innovation in Payments

The Central Bank of the UAE (CBUAE) and Bank Indonesia (the Central Bank of the Republic of Indonesia) have reportedly entered a Memorandum of Understanding (MoU) in order to expand mutual co-operation. The bilateral MoU will be including three key areas, focusing on digital innovation… Read More

Crime Prevention Software Provider, Featurespace, Appoints Todd Raque as AML Expert

Featurespace, the provider of Enterprise Crime Prevention software, has reportedly appointed Todd Raque as its leading anti-money laundering (AML) and financial crimes expert for the Americas. As mentioned in the announcement, Raque brings almost 30 years of professional experience and extensive industry knowledge in financial… Read More

Carmen Chu, Exec Director, Enforcement and AML, Hong Kong Monetary Authority, Shares Banking Sector Updates

Carmen Chu, Executive Director (Enforcement and AML), Hong Kong Monetary Authority (HKMA), recently noted during opening remarks at the AML Regtech Lab (AMLab) that it’s a great pleasure to welcome people to the very first AML Regtech Lab, or AMLab, which the HKMA is hosting… Read More

FTX US, a US-Regulated Crypto Exchange, Implements Anti-Financial Crime Compliance, Risk Management Tools

FTX US, a US-regulated crypto exchange, announced it has implemented a comprehensive suite of anti-financial crime compliance and risk management tools created by TRM Labs, a blockchain intelligence provider. FTX US, the US division of FTX, has reportedly integrated TRM’s Transaction Monitoring and Forensics tools… Read More

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