Tagged: anti money laundering

November 6, 2021 @ 12:12 pm By Omar Faridi  |  

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

October 26, 2021 @ 2:05 pm By Omar Faridi  |  

Anti-money laundering specialist SmartSearch is planning to hire 20 new staff members before the end of 2021. The Regtech firm says that it’s onboarding new talent so that they can support their business growth. There are many roles currently available. They range from graduate and… Read More

September 5, 2021 @ 5:24 pm By Omar Faridi  |  

There has been a special focus on anti-money laundering (AML) in the industry during August 2021, with accelerations in the use of artificial intelligence for AML, as well as certain updates made to regulatory guidelines, according to a report from Banking Circle. Payments specialist Banking… Read More

August 23, 2021 @ 8:20 am By Omar Faridi  |  

UK-based anti-money laundering (AML) specialist SmartSearch has introduced a new service in order to address the problem of “dirty” cash being cleaned across the globe via various activities like acquiring property. Organized criminal organizations and fraudsters are responsible for around $2 trillion a year in… Read More

August 4, 2021 @ 8:59 am By JD Alois  |  

Financial risk management platform Feedzai has acquired Revelock a biometric ID platform. Revelock technology will be immediately integrated into the core Feedzai platform with historical behavioral biometric intelligence available.  Feedzai claims the purchase has created the world’s largest AI-powered financial risk management platform calling the… Read More

July 20, 2021 @ 11:05 am By JD Alois  |  

The European Commission has updated the European Union’s anti-money laundering and countering terrorism financing (AML/CFT) rules. Included in the new policy is a requirement that anonymous crypto asset wallets will be prohibited. Along with the new policy on AML/CFT is the creation of a new… Read More

July 17, 2021 @ 4:26 pm By Omar Faridi  |  

Leading blockchain analysis firm Chainalysis has released an update titled, “Not All Blockchain Analysis Providers Are the Same and Other Insights from FATF’s Second 12-Month Review.” The Financial Action Task Force (FATF) is the inter-governmental entity that’s responsible for establishing international standards relating to anti-money… Read More

May 12, 2021 @ 11:17 pm By Omar Faridi  |  

London-based Napier, a provider of anti-financial crime compliance solutions, has revealed that it will be offering ClearBank, the Cloud-powered clearing bank, with its Transaction Screening system. As a purpose-built, tech-enabled clearing bank, ClearBank provides Cloud-based banking services to financial service providers, FCA-regulated companies and Fintech… Read More

May 5, 2021 @ 2:38 pm By Samantha Hurst  |  

  First AML, an anti-money laundry regtech startup, announced on Tuesday it has launched its operations in Australia. Founded in 2017, First AML streamlines anti-money laundering compliance through its online identity verification system that may be used by individuals anywhere in the globe through a smartphone.  The… Read More

May 5, 2021 @ 10:24 am By Samantha Hurst  |  

  HUBUC announced on Wednesday it has formed a partnership with regtech ComplyAdvantage to integrate compliance and security screening technology to its banking-as-a-service (BaaS) platform. HUBUC describes itself as an embedded financial service provider that allows businesses to integrate multiple payment capabilities from a single… Read More

May 2, 2021 @ 4:44 pm By Omar Faridi  |  

Turkey has reportedly decided to add digital currency trading platforms to its list of companies that will come under the nation’s anti-money laundering (AML) and terrorism financing regulations. This, according to a presidential decree that was released on Saturday (May 1, 2021). The Official Gazette… Read More

April 25, 2021 @ 11:30 pm By Omar Faridi  |  

London-based ComplyAdvantage, a company that offers real-time financial crime insight that “puts you in control,” notes that the European Union has introduced a strategy to deal with  organized and financial crime and the US recently imposed new sanctions on Russia. While sharing recent financial crime… Read More

April 12, 2021 @ 8:11 am By Samantha Hurst  |  

    Thirdfort, a UK-based Legaltech startup, announced on Monday it secured £1.5 million through its latest investment round. The funds come just a little over six months after Thirdford raised £1 million. As previously reported, Thirdfort stated it is enabling solicitors and licensed conveyancers to… Read More

April 11, 2021 @ 7:50 pm By Omar Faridi  |  

Cryptocurrency intelligence firm CipherTrace is reportedly using Chainlink to release CipherTrace DeFi Compli: a compliance solution enabling decentralized or non-custodial exchanges (DEXs) and other DeFi apps to adhere to the Office of Foreign Assets Control (OFAC) sanctions requirements. As part of its decentralized finance (DeFi)… Read More

April 5, 2021 @ 11:53 pm By Omar Faridi  |  

Uppsala Security, a provider of tools for Crypto AML, Risk Management, Regulatory Compliance, and Cybersecurity, has revealed they’ve entered into a contract to create a ‘Virtual Asset AML’ solution for the Coin&Coin exchange that “complies with the amendment of the Special Money Act in South… Read More

April 4, 2021 @ 3:18 pm By Omar Faridi  |  

The team at Banking Circle, a leading financial infrastructure developer, notes that as the first quarter of 2021 comes to an end, anti-money laundering or AML measures have been “a key focus in the industry.” The company writes in a blog post that following the… Read More

March 19, 2021 @ 7:24 am By Omar Faridi  |  

Banking Circle, a financial infrastructure developer, notes that the rapid and widespread digital adoption by banking clients, and the accelerated digitalization across financial services following the COVID-19 outbreak have “expanded the opportunity for fraud.” Criminals are increasingly exploiting “gaps” found between digital solutions or platforms,… Read More

March 15, 2021 @ 10:45 pm By Omar Faridi  |  

Banking Circle, a financial infrastructure developer, notes that McKinsey has found that around $800 billion to $2 trillion has been laundered annually via the international banking system. Banking Circle reveals that criminals keep using more sophisticated methods to launder funds, which may put the reputations… Read More

March 9, 2021 @ 9:58 am By JD Alois  |  

The European Banking Authority has published a document that addresses anti-money laundering (AML) and counter-terrorist financing (CFT) when it comes to crowdfunding. The guidelines for crowdfunding platforms are incorporated into the Final Report “on customer due diligence and the factors credit and financial institutions should… Read More

February 19, 2021 @ 5:49 pm By Omar Faridi  |  

Accuity and LexisNexis Risk Solutions have confirmed that they’re planning to merge their business operations. Accuity will reportedly become a part of the LexisNexis Risk Solutions Group which currently operates in over 100 different countries. Both companies are a part of RELX, a multinational provider… Read More