Transaction Monitoring

The Financial Conduct Authority (FCA) has imposed a fine of £178,000 to an international sham trading scheme known as cum-ex.

UK-based banking company Novus is due to launch its beta banking app in the coming weeks before introducing the product to the wider public in summer 2021.

From insider trading and market manipulation to bribery, corruption as well as money laundering, detecting suspicious activity has become a top priority for financial firms, making it imperative to have a robust compliance surveillance solution in place, according to Relativity Trace general manager Jordan Domash.

German financial regulator BaFin has told banking giant Deutsche Bank it needs to introduce stronger action on money laundering.

Sports apparel company Under Armour has settled with the Securities and Exchange Commission (SEC) and agreed to pay $9m in fines related to misleading its revenue growth to investors from the third quarter of 2015 through the fourth quarter of 2016.

UK FinTech Lanistar has secured Financial Conduct Authority (FCA) approval to operate as an Electronic Money Directive (EMD) agent of payments business Modulr.

UK-based neobank Pennyworth has begun beta testing of the first version of its financial planning app on all iOS devices.

The UK government has passed a bill that would give it the ability to intervene in foreign direct investments that could negatively impact the country.

Canadian FinTech company Wealthsimple has raised C$750m from a funding round led by Greylock and Meritech.

JP Morgan has partnered with DBS Bank and Singapore government-owned firm Temasek to introduce a new joint payments company.