More from Banking, Financial Services & Insurance – Page 29
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VideoA Conversation with Payson Johnston and Anton Zdziebczok
We talk to Payson Johnston, CEO & co-founder of Crowdz, a FinTech company based in Silicon Valley, focused on revolutionising invoice financing for SMEs and helping businesses get paid faster.
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VideoA Step into The Regulatory Unknown
Almost two decades on from the al Qaeda terrorist attacks (9/11) the Financial War on Terrorism continues to gather pace following the introduction of a series of international counter-terrorism financing legislative provisions
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NewsCrypto analytics firm CipherTrace files patents for technology to trace privacy coin Monero
Cryptocurrency risk intelligence and analytics firm CipherTrace has filed two patents for technology to trace transactions for privacy coin Monero (XMR).
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NewsTrump-appointed regulator proposes rule to compel banks to lend to “unpopular” businesses
A US regulator has proposed a new rule aimed at compelling banks to lend to “unpopular” businesses such as oil businesses and gun manufacturers.
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SponsoredResilient risk management for the FinCrime professional in today’s new normal (sponsored)
Financial crime has increased substantially since the outbreak of the pandemic. Regulated firms are being attacked on all fronts and criminals are getting more sophisticated, with an increase in criminal scams and laundering activity associated with this crisis. As if they weren’t already, compliance teams face challenging times ahead. In this article, NorthRow discuss how FinCrime professionals can build resilient risk management processes in whatever passes for today’s new normal.
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NewsNasdaq to acquire Canadian AML technology firm Verafin in $2.75bn deal
Nasdaq has agreed a $2.75bn deal to acquire Canadian anti money laundering and fraud platform provider Verafin.
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BlogA single AML supervisor and rulebook might just be what’s needed to drive true collaboration in Europe
As European finance ministers agreed to progress plans for a major reform of anti-money laundering regulation in the European Union, Nina Kerkez outlines the likely benefits and challenges.
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FeatureWe need to talk about the EU’s ambitious AML reform plan
The European Commission’s reforms for anti-money laundering, including a single rulebook and supervisor, have been enthusiastically backed across the continent and draft plans approved by finance ministers.
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NewsUS SANCTIONS: Airbnb admits it may have breached Cuban sanctions; Western Union halts Cuba transactions; Trump imposes fresh restrictions related to China and Iran
AirBnb has admitted it may have breached US sanctions and could face litigation.
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BlogMore money laundering and more SARs – the potential impact of Germany’s new AML law
A proposed new law in Germany would have a drastic impact on the volumes of transactions punishable as money laundering. Compliance teams will need to be on the ball, explains Andrew Northage
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NewsLagarde hints digital Euro is likely but would take several years due to AML and privacy concerns
Christine Lagarde has said her “hunch” is that a digital Euro will be set up soon but would take up to four years to implement.
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AnalysisFinCrime Report country guide: Europe
The latest Anti-Money Laundering and sanctions regulatory position for each country in Europe.
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Q&AFinCrime Job Focus: Daniel Cohen, chief product officer for anti-fraud at RSA Security
In our latest reader-submitted Q&A, Daniel Cohen describes how he enjoys discussing new ways to fight fraud
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NewsFinancial crime caseload productivity ‘stagnated or got worse in 2020’, survey finds
Financial crime caseload productivity stagnated or worsened this year with investigators warning they need more adequate technology, training and investment to keep up with the criminals, research has found.
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NewsLatvian bank RIB fined €473k over “irregularities” and inadequate AML
Latvian bank Reģionālā Investīciju Banka (RIB) has been fined €473,076 over fund source detection “irregularities” and inadequate risk management.
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NewsSwiss bank Julius Baer agrees to hand over nearly $80m to settle FIFA corruption case
Julius Baer said it has reached an agreement in principle with the US Department of Justice to resolve an investigation into the bank’s role in the FIFA corruption scandal.
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NewsUAE lifts suspensions for 193 law firms but fines seven for continued AML failures
The United Arab Emirates’ Ministry of Justice has fined seven law firms for continued anti-money laundering failures, but lifted suspensions on 193 others.
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AnalysisFour key FinCrime questions for Biden’s administration
As the world reflects on Joe Biden’s victory, here are a few things to look out for in terms of the impact on the tackling of financial crime
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Q&AFinCrime Job Focus: Mike Hampson, CEO, Bishopsgate Financial
In our latest reader-submitted Q&A, Mike Hampson argues that the banking sector needs to improve collaboration to tackle financial crime
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BlogGermany’s proposed AML law: what it would mean for compliance professionals
Germany’s draft anti-money laundering law would widen the definition of money laundering crimes. Oliver Förster explains how this would both ease and add to AML compliance workloads.
