Tag: AML

The total volume of fines levied against firms for breaking money laundering, data privacy, MiFID and know your customer rules jumped by 141% and amounted to $10.4bn in total so far this year.

Digital banking and lending platform company LEVERIS has signed a partnership with ComplyAdvantage, the financial crime detection company.

Identity verification-as-a-service platform IDnow has closed a €15m growth funding from European Investment Bank.

After almost a year of discussions, EU finance ministers have agreed to launch a regulatory body focused on fighting money laundering.

Australian Arctic Intelligence has announced a major change in its leadership, with COO Darren Cade taking over as CEO from founder Anthony Quinn, who will become the company's board director.

The trials of the coronavirus pandemic and the $910m fine for breaking Australia's money laundering laws have caused a 66% drop in Westpac's profits.

Silent Eight, which leverages AI technology to combat money laundering and terrorism financing, has closed a funding round on $15m.

The global market for solutions preventing money laundering is set to skyrocket to be worth $1.99bn by 2025.

Even though the coronavirus pandemic has made digital banking a must-have for banks, many of these financial institutions risk losing customers because of their clunky onboarding practices, according to a new FICO survey.

Crime prevention software developer Featurespace has been enlisted by NatWest to protect the bank's customers against fraud.