February 29, 2024
FATF Updates List of Countries Needing ‘Increased Monitoring’
The Financial Action Task Force (FATF) has added new countries to its “increased monitoring” list. FATF, which sets global standards for anti-money laundering and countering the financing of terrorism, recently included the...
February 28, 2024
UK Electronic-Money Company Transactive Systems to Cease Operations
Transactive Systems, an electronic-money company in the United Kingdom, is reportedly ceasing operations following the revocation of one of its licenses due to concerns about money laundering. The company’s CEO,...
February 28, 2024
US Money Laundering Fight May Soon Turn Corner
Is the tide turning in America’s war on money laundering? Writing in the Financial Times Tuesday (Feb. 27), Casey Michel of the Human Rights Foundation argues that the U.S. has...
February 25, 2024
Binance Prosecutors Seek Tougher Travel Restrictions for Crypto Firm’s Founder
Prosecutors want stricter bail conditions for Binance’s founder as he awaits sentencing on money-laundering charges. Changpeng Zhao pleaded guilty in November of last year to failing to adhere to proper anti-money laundering practices at...
February 22, 2024
Raiffeisen Bank International Discloses Investigation by Austrian Financial Regulator FMA
Raiffeisen Bank International (RBI) disclosed Thursday (Feb. 22) that it is being investigated by Austria’s financial regulator, FMA, over alleged anti-money laundering (AML) failures. The bank said in its annual report that...
February 21, 2024
Spektr Raises $5.4 Million to Expand Automation-Led Compliance Solution
Spektr came out of stealth and announced it raised 5 million euros (about $5.4 million) in a seed round. The company offers advanced automation for compliance teams worldwide and can...
February 21, 2024
Germany’s Financial Regulator BaFin Set to Relax Crackdown on FinTechs
Germany’s financial regulator, BaFin, is reportedly set to relax its crackdown on FinTechs. The move comes after several firms improved their controls, BaFin Executive Director Birgit Rodolphe told Bloomberg in...
February 20, 2024
Archer Adds AI-Driven RegTech Solutions With Compliance.ai Acquisition
Archer, a provider of risk management solutions, has acquired Compliance.ai, a supplier of artificial intelligence (AI)-driven regulatory change management solutions. This acquisition is expected to empower Archer clients with AI technology...
February 16, 2024
Velmie Launches Customizable Business Banking Platform
Velmie launched its Business Banking Platform designed to help financial services providers and FinTechs broaden their product offerings. The platform enables these companies to cater to business client needs, including...
