Tag: money laundering

Following the intense scrutiny of the FinCEN Files, US lawmakers have introduced new legislation to fight money laundering.

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.

FinTech Computer Services has partnered with financial crime-fighting company Featurespace to launch a holistic anti-money laundering solution WatchDOG AML.

The UK's National Crime Agency has called for an overhaul of the money laundering reporting system to deal with low-quality or unnecessary warnings.

The French National Gendarmerie has completed an 18 month money laundering investigation, which has resulted in the arrest of 18 suspects and the seizure of ?4m worth of assets.

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 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.

Following the release of the FinCEN Files in September, RegTech Sigma Reporting shows how old risk ratings on financial crime are often static and out of date.