France Vies to Host EU’s New Anti-Money Laundering Agency
November 17, 2023

France is vying to host the European Union’s anti-money laundering (AML) agency, with French Finance Minister Bruno Le Maire presenting Paris as an ideal location for the agency. Addressing European Union (EU) ambassadors on Friday (Nov. 17), Le Maire highlighted that Paris already serves as...

Jack Henry Debuts Defense Against Money Laundering
October 16, 2023

FinTech company Jack Henry has introduced a new tool to help banks combat fraud. The firm’s Financial Crimes Defender, announced Monday (Oct. 16), is a cloud-native, real-time fraud and anti-money laundering (AML) tool for community and regional financial institutions. “Fighting fraud with real-time data is the equivalent of...

WorkFusion Unveils AI-Powered Transaction Monitoring Investigator
October 02, 2023

WorkFusion has unveiled a new AI Transaction Monitoring Investigator designed to automate the review of first-level (L1) transaction monitoring alerts.  The new artificial intelligence (AI) solution, dubbed Isaac, streamlines the process and enables analysts to concentrate on more critical investigations, the provider of AI digital workforce...

SEC: DWS Failed to Develop Anti-Money Laundering Program
September 25, 2023

DWS Investment Management Americas is facing two separate enforcement actions from the Securities and Exchange Commission (SEC). The SEC said in a news release Monday (Sept. 25) that DWS, a registered investment advisor and Deutsche Bank subsidiary, failed to set up a mutual fund anti-money laundering (AML) program....

Norway’s Strise Raises $10.8 Million to Expand AML Offering
September 06, 2023

Strise has raised $10.8 million to bring its anti-money laundering technology to new markets. London-based venture capital firm Atomico, which led the Series A round, announced the funding for the Norwegian company on its website Wednesday (Sept. 6).  Strise plans to use the funds to bring its...

Switzerland Introduces New Anti-Money Laundering Measures
August 30, 2023

Switzerland is set to introduce new rules to tackle money laundering. The regulations — set to be presented to the Swiss parliament next year — would make lawyers and consultants responsible for reporting risks and increase oversight of entities such as trusts, Reuters reported Wednesday (Aug. 30)....

TD Bank Faces Anti-Money Laundering Probes From US Regulators
August 24, 2023

TD Bank has disclosed that it is cooperating with inquiries from regulators and law enforcement regarding its compliance with anti-money laundering rules. The bank made this disclosure in its report to shareholders for the third quarter that was released Thursday (Aug. 24), stating that it may face penalties...

UK Slaps Levy on Regulated Entities to Help Fund Money Laundering Fight
April 03, 2023

A recently implemented Economic Crime Levy under the U.K.’s Finance Act 2022 is aiming to help in the fight against money laundering. Details outlined in the final government levy consultation report show that anti-money laundering (AML) regulated entities will first be charged the levy during the...

Germany Reportedly Forming New Anti-Money Laundering Agency
March 29, 2023

Germany is reportedly forming a new agency focused on anti-money laundering (AML) and sanctions efforts. The new organization will be called the Federal Authority for Fighting Financial Crime and will absorb the country’s existing AML authority, the Financial Intelligence Unit, the Financial Times (FT) reported...