KYC

After New Year’s Eve, Britain can arguably create its own rules for the financial sector. One executive is now arguing this is an opportunity too good to miss.

Millions of digital wallet users can keep their accounts after the Reserve Bank of India's (RBI) new move.

The central bank of India has found a lender’s due diligence procedures lacking and has fined the bank Rs one crore ($107,696) as a result.

A freedom of information request has unveiled that the Financial Conduct Authority (FCA) has so far not brought in a single prosecution under the new anti-money laundering (AML) rules it introduced two years ago.

Financial firms around the world were ordered to pay $36bn in total due to failing to comply with legislation set up to prevent money laundering and fraud.

Having secured $17.5m in additional funds from investors like Coatue Management and First Round Capital, Persona is now looking to develop its solutions and grow its team.

Financial firms in India can now use video-based methods to verify the identities of their customers.

Hot on the heels of launching its identity verification product in August 2019, VerifyMe Nigeria has closed a new investment round.

The 2010s saw business leaders realise the importance of compliance. However, RegTech could get even bigger in the next decade, believes Kristoff Zammit Ciantar, CEO of KYC Portal.

Identity verification service provider Shufti Pro will provide loot box site Drakemall with its customer verification services.