Tag: AML

Documents from the US Financial Crimes Enforcement Network (FinCEN) were leaked to the press and published globally in September 2020. The leak involved over 2,100 documents and around $2trn in transactions and showed how some of the world’s largest banks enabled criminals to move dirty money around the globe. A year on, has the industry been able to clean up its act?

A recent webinar by Alessa has examined what constitutes a politically exposed person (PEP) and why relationships with certain PEPs may offer increased financial crime threats.

Local payments infrastructure provider PPRO has established a strategic partnership with Sentinels to improve its own anti-money laundering (AML) controls.

A recent case study by financial crime prevention firm Acuminor has detailed how banks can improve their stance of tackling the financial crime threats they face through its risk-focused technology.

Coinfirm, an AML compliance solution for digital currencies and blockchain-based financial ecosystems, has closed its Series A funding round on $8m.

PassFort, which automates financial crime and compliance processes, has closed its Series A round on $16.2m.

Identitii has launched a software-as-a-service platform to help firms cut non-compliance reporting risks with anti-money laundering (AML) and counter-terrorist financing (CTF).

There were 45 fines for AML failures issued globally during 2020, which matched the levels of 2019, and 2021 looks set to match this figure, according to a report from Kroll.

A total of $937.7m has been issued in fines for non-compliance with anti-money laundering, know your customer and data privacy regulations, in H1 2021.

Open source blockchain ecosystem Celo has teamed up with FinClusive, which provides accounts and payment solutions with embedded AML tools.