Money Laundering

412 articles tagged with this keyword

/ai

ThetaRay boosts AI financial crime detection with Screena acquisition

AI-powered financial crime detection specialist ThetaRay has acquired screening company Screena. Financial terms were not disclosed.

/crypto

FCA fines Coinbase unit £3.5m over high-risk customers

The Financial Conduct Authority has fined a Coinbase unit £3.5 million for enabling crypto trading services for high-risk customers.

/regulation

Fed fines Green Dot $44m

The Federal Reserve has fined Green Dot $44 million for "numerous" unfair and deceptive practices in the marketing, selling and servicing of its prepaid cards and its tax return preparation payment services.

/crypto

Lithuania fines crypto firm EUR9.3m for Russia sanctions violations

Lithuania has fined crypto outfit Payeer a record EUR9.3 million for Russia-related sanction violations and money laundering failures.

/crime

Nordea charged over Danish money laundering cases

Denmark officially brought charges to Nordea in the country’s biggest money laundering case to date, stating the bank violated the Danish anti-money laundering act several times between 2012 and 2015.

/ai

Rabobank joins funding round in Hawk

German RegTech Hawk has extended its Series B funding round with an additional investment from Dutch bank Rabobank.

/regulation

BaFin lifts N26 customer onboarding cap

After more than two years, Germany's financial regulator BaFin has lifted a cap on the number of new customers that digital bank N26 can onboard.

/regulation

BaFin fines N26 €9.2m over late money laundering reports

German regulator BaFin has fined N26 €9.2 million for anti-money laundering failures but could be preparing to lift a cap on the number of new customers the digital bank can take on.

/regulation

Canada fines Binance C$6m for AML violations

Cryptocurrency exchange Binance has been fined C$6 million by Canadian authorities for violating money laundering and terrorist financing laws.

/regulation

Wells Fargo says US investigating Zelle complaint handling

Wells Fargo has joined JP Morgan in revealing that US authorities are investigating the handling of complaints about P2P payments service Zelle.

/people

Binance founder Changpeng Zhao gets four month prison term

The founder of crypto exchange Binance, Changpeng "CZ" Zhao, has been sentenced to four months in prison in the US after pleading guilty to violating anti-money laundering requirements.

/regulation

EU expands AML regulation impacting cryptocurrency compliance

The European Parliament has voted to adopt a package of laws to strengthen the EU’s AML and terrorist financing toolkit, with a particular impact on the cryptocurrency industry.

/regulation

ComplyAdvantage buys Golden to boost financial crime intelligence

AI-based financial crime detection startup ComplyAdvantage has acquired Golden Recursion in a deal that brings Andreessen Horowitz in as a shareholder.

/crime

Turkish crypto chief starts 11,196-year prison sentence

Faruk Fatih Ozer, the former boss of failed Turkish cryptocurrency exchange Thodex, has started a lengthy jail sentence after he was found guilty of defrauding investors in a multimillion dollar fraud.

/regulation

Singapore launches platform to tackle money laundering

The Monetary Authority of Singapore (MAS) has launched a centralised digital platform that lets financial institutions share customer information in order to tackle money laundering and terrorism financing.

/crime

MPE 2024: AI-driven misinformation and consumer education in fraud

In an exclusive interview at Merchant Payments Ecosystem 2024, trust and safety architect at Sift Brittany Allen spokes with Finextra on new challenges in the fraud space, and how the spread of misinformation on social media is a major concern with AI-driven technology.

/regulation

Paytm Business Bank fined on money laundering charges

Paytm's banking business has been fined 55 million rupees (about $663,000) by an Indian regulator on money laundering charges.

/payments

NextGen Nordics 2024: 40+ banks registered to attend

NextGen Nordics returns to Stockholm on 23rd April, and at seven weeks away from the event day, 200 attendees have already registered.

/regulation

Frankfurt wins race to host new EU anti-money laundering agency

Frankfurt has won the race to host the EU's new Anti-Money Laundering Authority (AMLA), beating out competition from eight other cities, including Dublin, Madrid and Paris.

/payments

MEPs nod through ten second instant transfer rules

The European Parliament has adopted new rules to ensure transferred funds arrive within ten seconds into the bank accounts of retail customers and businesses across the EU.