Sections
AML
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1.3KEU Calls For Anti-Money Laundering Reforms
European Union finance ministers on Thursday (Dec. 5) agreed on strategy for anti-money laundering (AML) reforms and countering the financing of terrorism,...
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2.6KSEB Says No Action Needed On Flagged Bank Accounts
SEB believes there is no need to take further action after the bank was accused of having links to suspected money laundering...
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1.4KECB: Malta’s Bank Of Valleta Failed To Detect Money Laundering Risks
The European Central Bank (ECB), the main banking regulator in Europe, has revealed that Malta’s biggest bank failed for years to detect...
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2.2KFinCEN Releases Advisory On FATF’s List Of AML/CFT Deficiencies
The Financial Crimes Enforcement Network (FinCEN) has issued an advisory to announce an updated list of jurisdictions with anti-money laundering (AML) and...
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2.4KDeep Dive: The Benefits And Limitations Of Video-Based KYC For FIs
FIs cannot afford to be lax with KYC and AML procedures, and their handling of sensitive information means they are held to...
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1.1KHow Zillow Fights Real Estate Fraud
The real estate industry is a hot target for fraudsters, who launder $1.6 trillion a year through rental payments and home purchases....
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5.1KZillow: Tackling Real Estate’s $1.6T Money Laundering Epidemic
Governments are tightening know your customer (KYC) and anti-money laundering (AML) requirements on various industries out of increasing concern over fraud threats....
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2.4KFinCEN Head: FinTech Firms Must Follow AML Laws
The head of the Financial Crimes Enforcement Network (FinCEN) has warned FinTech firms that they must abide by anti-money laundering (AML) laws....
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2.6KDeep Dive: How FinTechs, FIs Can Arm Up Against Fraud
Financial services providers that slack on regulatory compliance and fail to safeguard their operations against money laundering, terrorist financing and other criminal...
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2.2KBridging The Security Gap To Win Customers’ Trust
Fraudsters are increasingly targeting mobile banking services and that’s a challenge for financial app startups that don’t have long fraud-fighting histories to...
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6.2KHow FinTech Apps Can Ace Security
Businesses that fail to comply with anti-money laundering (AML) and know your customer (KYC) regulations risk major regulator fines and irreparable damage...
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2.4KSwedish Watchdog To Publish Results Of Swedbank Probe In 2020
There won’t be any answers until next year regarding the ongoing investigation of the Swedish Financial Supervisory Authority (FSA) and money laundering...
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2.8KDeep Dive: ID Verification In The Sharing And Gig Economies
Sharing economy platforms are opening up new opportunities for property owners and travelers. Homeowners can monetize spare rooms and visitors can secure...
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2.8KHow Bitbuy Is Keeping Crime Out Of Crypto
Crypto thefts, scams and fraud cost more than $1.2 billion in Q1 2019 alone. Securing against these threats requires trading platforms to...
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5.9KFighting Crypto’s $1.2B+ Fraud Problem
Regulators are pushing for greater oversight of cryptocurrency, with anti-money laundering (AML) and counter-terrorist financing (CTF) watchdog, the Financial Action Task Force...
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3.5KDeep Dive: Weighing The Use of Biometrics For KYC
Biometric authentication enables processes as simple as unlocking a smartphone and as complex as streamlining airport security checks. With that in mind,...
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2.4KKeeping App-Based Brokerages Secure
Millennials aren’t investing as much as older generations — but engaging with them on their smartphones, which they’re always on, could change...
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3.3KHow FIs Are Taking Anti-Money Laundering Precautions
With one of the world’s biggest money laundering scandals just a few months old, it’s a fitting time to look into the state...
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5.3KGetting Millennials To Put Stock In Trading Apps
Money laundering scandals have rocked the reputations of major financial institutions (FIs) that are consequently launching new efforts to repair their images....
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5.4KDeep Dive: An Automated Approach To The $2T Global Money Laundering Problem
The term “money laundering” is believed to have originated as a result of infamous Chicago gangster Al Capone’s habit of channeling criminally...
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6.8KWhere The UK Fails On Anti-Money Laundering
Hundreds of billions of pounds' worth of criminal funds are laundered through the U.K. each year, while the non-compliant corporations and FIs...
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4.5KRegulator: Nordic Banks Embroiled In AML Scandals Should Stay
The head of the Financial Supervisory Authority (FSA) in Finland has warned that Nordic banks involved in money laundering scandals should be...
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8.7KWhat’s Missing? How Money Launderers In The UK Remain Unchecked
Financial institutions (FIs) must carefully balance staying compliant and keeping their customers safe, all without introducing frictions that could scare customers...
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5.0KEuropean Commission To Create New AML Blacklist
The European Commission vowed to compile a new list of countries that present a money laundering risk by summer as it steps...
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15.4KCanada Cannabis Payments Face Their Own Hurdles
Since last year, when Canada legalized recreational pot in full, the nation became a kind of country-sized lab for how that new...
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6.7KSAFE Banking Act Gains Cannabis-Friendly Spotlight In Congress
Legal marijuana sellers want bank accounts just like any other business. Over the last two years, more than $500 million worth of...
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7.4KHow Prepaid Cards Played A Role In El Chapo’s Global Drug Operation
The story goes something like this: During the reign of drug kingpin Pablo Escobar — estimated to have supplied up to 80...
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12.4KDeep Dive: How To Improve Existing AML/KYC Requirements
The following Deep Dive examines how the 2008 financial meltdown paved the way for existing AML/KYC practices, and how FIs can work...
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2.4KKeeping Investment Platforms Free From Fraudsters
How can firms with global ambitions balance a smooth authentication process with rigorous AML efforts? In the inaugural edition of the AML/KYC...
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11.0KHow To Keep Investment Platforms AML-Compliant
The global economy offers a wide range of opportunities for businesses to expand their reach, and promote their brands to new markets....
