More from Banking, Financial Services & Insurance – Page 18
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AnalysisKeynote: Tackling the devastating impacts of wildlife trafficking
John Scanlon has been leading the charge to tackle wildlife trafficking and in June he will talk about the issue at FinCrime World Forum. Here, he explains how he is campaigning for a change to a key United Nations Protocol and how the Covid-19 pandemic has shone a spotlight on the issue
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NewsBanking fraud soars 159%
New report reveals that banking fraud attempts has increased by 159% from the final three months of 2020 to Q1 2021.
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NewsUK financial watchdog extends AML registration deadline
Partly because of a lack of take up, Britain’s Financial Conduct Authority (FCA) is extending the end date of its temporary registrations regime for existing crypto asset businesses to 31 March next year from 9 July.
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NewsFresh AML drive in UAE
The ministry of economy in the UAE has launched a campaign to ensure more than 500,000 of the nation’s non-financial businesses submit data on their ultimate beneficiaries by 30 June.
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NewsSouth Korea’s first regulated crypto exchange could launch in Q3
South Korea has requested crypto exchanges to comply with new regulatory requests, and should the exchanges complete the process by June, the country’s first regulated exchange could launch towards the beginning of Q3 2021.
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NewsUS defence contractor to pay $50m to settle fraud allegations
Military vehicle manufacturer Navistar Defense has agreed with the US department of justice (DoJ) to pay $50m (€41m) to resolve allegations it fraudulently induced the country’s Marine Corps to modify at inflated prices a suspension system contract for mine-resistant, ambush-protected armoured vehicles.
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NewsPhilippine AML watchdog gears up for prosecutions
The Anti-Money Laundering Council (AMLC) in the Philippines is prepared to take supervisory action after a review revealed financial businesses submitted incorrect filings in suspicious transaction reports (STRs), says executive director Mel Georgie Racela.
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AnalysisPooling obligations through fincrime utilities can help us be the ‘gatekeeper’
Helene Erftemeijer, ahead of her talk to GRC World Forums next month, discusses an innovative collective transaction monitoring project in the Netherlands and why we must break down siloes to keep up with the criminals
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AnalysisThe key theme: building next generation fincrime partnerships
Next month’s FinCrime World Forum will feature a whole stream of panel debates on future fincrime partnerships. Here we look at some of the eye-catching partnership projects from around the globe
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NewsCyber-criminals target Texas unemployment system
A cyber-criminal gang has shared a 13-page tutorial explaining how to successfully commit unemployment identity fraud in Texas.
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ArticleRed Flag series: Orchestrating RegTech solutions to work together
The first episode of the GRC Red Flag Series discusses the GRC Orchestrate project and calls for firms to work collaboratively on standardising industry-led solutions to RegTech.
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AnalysisPushing the pace of RegTech adoption to fight the criminals
Next month, Dr Sian Lewin will address FinCrime World Forum on the topic of removing barriers to RegTech adoption in financial crime. Here, she talks about the benefits of technological solutions and explains why the pace of adoption needs to speed up.
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NewsChina bans financial payment institutions from crypto business
China’s regulatory authorities have banned financial and payment institutions from providing services related to cryptocurrency transactions.
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NewsOCC warns of fraudulent emails seeking access to Bitcoin wallet keys
The regulator stated that it did not send the messages nor does it hold any funds for individual benefit.
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AnalysisThe key theme: Aligning RegTech to FinCrime realities
Interest is growing in the use of RegTech solutions in financial crime and this will be a major topic at FinCrime World Forum next month. Here we take a look at some of the major technologies and techniques that could be utilised as well as some of the barriers to adoption
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NewsNew series of video talks led by ‘father of GRC’ Michael Rasmussen begins today
A new series of virtual discussions on governance, regulation and compliance trends will get under way later
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News‘DeFi’ fraud rises whilst cryptocurrency crime declines
New report reveals an alarming new trend in which decentralised finance hacks now make up more than 60% of the total crypto thefts and hacks volume.
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NewsEurope’s new AML watchdog will be in place by 2024
Once operational, the authority will mark one of the biggest overhaul of the European Union’s anti-money laundering efforts in decades.
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Analysis‘AML is the least effective anti-crime measure anywhere, ever’
Outcomes scientist Dr Ron Pol has been ruffling feathers with his strong criticism of current anti money laundering (AML) frameworks. Ahead of his appearance at FinCrime World Forum next month, he argues current thinking is not working because it has no basis in effectiveness and outcomes science.
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AnalysisMeasuring effectiveness: the $64,000 dollar question
How we define, measure and ultimately improve effectiveness is becoming a major topic in the world of financial crime. Ahead of her appearance at FinCrime World Forum, Gemma Rogers argues for a change in thinking in the sector.
