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....
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 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 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...
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 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...
Eventus has debuted an anti-money laundering (AML) platform for traditional finance and digital asset companies. The Austin-based company, which provides transaction monitoring and market risk solutions, announced the cloud-based tool — dubbed Validus or VAML — in a news release Tuesday (Jan. 31). It comes...
A string of fines is shining a light on anti-money laundering failures at European banks. First, the U.K.’s Financial Conduct Authority (FCA) slapped Gatehouse Bank with a £1.5 million ($1.83 million) penalty in October for not applying sufficient anti-money laundering (AML) checks on customers based...
The leader of German’s anti-money laundering office has reportedly resigned. Christof Schulte, who had overseen Germany’s Financial Intelligence Unit (FIU) since 2018, stepped down Thursday (Dec. 15) following the revelation that the government had kept a large backlog of suspicious activity reports from the Paris-based...
