Tag: AML

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.

The European Commission has announced the creation of a new EU authority to fight money laundering, as part of a series of proposals to combat rising fraud threats.

The European Union’s new Anti-Money Laundering Authority (AMLA) is being welcomed by many professionals in the financial services space.

The European Commission has said it intends to end anonymity in cryptocurrencies and introduce a new anti-money laundering (AML) agency to crack down on financial crime.

The Financial Conduct Authority (FCA) has issued warning letters to retail banks due to ongoing weaknesses and failings around their financial crime controls.