AML

Anti-money laundering (AML) refers to a set of laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income. Though anti-money-laundering laws cover a relatively limited range of transactions and criminal behaviors, their implications are far-reaching.
US Bank Fined $613M For AML Violations
US Bank Fined $613M For AML Violations
February 15, 2018  |  Bank Regulation

U.S. Bank was slapped with a $185 million civil penalty for what the Financial Crimes Enforcement Network (FinCEN), in coordination with the Office of the...

READ MORE >
IdentityMind Raises $10M
IdentityMind Raises $10M
February 15, 2018  |  Investments

IdentityMind Global announced that it has closed a $10 million Series C round of financing. Along with existing investors, the round was co-led by Benhamou...

READ MORE >
Microsoft, Comcast Remain In Blockchain Exploratory Mode
Microsoft, Comcast Remain In Blockchain Exploratory Mode
February 14, 2018  |  B2B Payments

Spending on blockchain technologies will ramp up to $9.2 billion by 2021, according to International Data Corporation (IDC) figures. Its latest Worldwide Semiannual Blockchain Spending...

READ MORE >
Bitcoin Daily: LoopX’s Exit Scam, BitGrail’s Suspicious Nano Hack
Bitcoin Daily: LoopX’s Exit Scam, BitGrail’s Suspicious Nano Hack
February 13, 2018  |  Bitcoin

Some of America’s leading universities are adding a new course to their roster – call it Bitcoin 101. Graduate classes at schools such as Duke...

READ MORE >
Bridging The 40 Percent Gap In Online Banking
Bridging The 40 Percent Gap In Online Banking
January 31, 2018  |  Authentication

In life, 40 percent of anything is a lot. In online banking, 40 percent abandonment is … intolerable. As many as four in 10 consumers...

READ MORE >
Cross-Border Payments, Sans Friction    
Cross-Border Payments, Sans Friction    
January 29, 2018  |  Cross Border Commerce

Money changing hands internationally is a process that carries with it all sorts of speed bumps, especially amid regulatory scrutiny.  Payments can be made smoother...

READ MORE >
In B2B Invoicing, Late Payments Vanquished Through Machine Learning
In B2B Invoicing, Late Payments Vanquished Through Machine Learning
January 18, 2018  |  B2B Payments

The paper chase bedevils efficient buyer/supplier relationships, particularly with large corporates buyers. Previse’s CEO Paul Christensen says the enemy is process when it comes to...

READ MORE >
Treasury Eyes Cryptocurrencies For Money Laundering
Treasury Eyes Cryptocurrencies For Money Laundering
January 18, 2018  |  Regulation

The U.S. Treasury’s financial crime unit is picking up enforcement of cryptocurrency platforms that don’t have strong internal mechanisms in place to prevent money laundering,...

READ MORE >
“AML Solutions Are Still Stuck In The Middle Ages”
“AML Solutions Are Still Stuck In The Middle Ages”
January 17, 2018  |  Security & Fraud

  AML. Switch the acronym a bit. Let’s try “LMA”: Here we could say it stands for “Laggard from the Middle Ages.” The first acronym,...

READ MORE >