Compliance

The UK's competition watchdog Competition and Markets Authority (CMA) has issued a warning to Monzo, NatWest Group, Virgin Money and Bank of Ireland after they breached a rule requiring them to send banking transaction histories to former account holders.

A report by a panel set up by Japan’s Financial Services Agency (FSA) has provided recommendations on how to promote sustainable finance in the country.

A study by LexisNexis Risk Solutions has found anti-money laundering (AML) compliance is costing UK financial institutions £28.7bn and will raise to £30bn by 2023.

Swiss wealth management company Criptonite Asset Management entered into a partnership with SEC-regulated digital asset investment manager Wave Financial to address the increasing demand from European investors on crypto-related products.

The World Bank has declined to help El Salvador with the integration of Bitcoin into its currency system highlighting concerns around the environment and transparency.

Data and analytics software company Quantexa has partnered with UK rail firm Govia Thameslink Railway (GTR) to help stem the rising tide of rail fraud and double down on serial scammers.

BearingPoint RegTech has signed an agreement to purchase global tech firm Vizor Software for an undisclosed fee subject to regulatory approvals.

TruNarrative has been chosen by UK’s ethical digital banking platform MoneeMint to provide customer onboarding and transaction monitoring solutions.

Racing organisation and gaming facility New York Racing Association (NYRA) has extended its contract with AML compliance solution provider Alessa for sanctions screening, transaction monitoring and regulatory reporting.

Swiss property and casualty insurance firm Chubb has revealed it is creating a Pay-As-You-Roam (PAYR) travel insurance service.