All Money Laundering articles – Page 9
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NewsLarge crypto exchange Gemini signs agreement with Comply Advantage
Gemini , one of the world’s largest cryptocurrency exchanges, has selected ComplyAdvantage’s hyperscale platform for its AI-powered AML risk management.
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NewsIsraeli regtech AML firm ‘considers public listing’ ahead of expected AI boom
Israeli cyber security firm ThetaRay is considering listing on the stock market following an increase in the valuation of regtech companies.
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NewsPleyer calls on G20 to promote change in fincrime regulatory culture
Dr Marcus Pleyer wants a move away from a ‘form-filling’ regulatory culture and has called on the G20 group of governments to lead the change in order to more effectively fight financial crime.
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NewsGlobal spending on regtech will nearly quadruple to $130billion by 2025, report finds
Spending on regulation technology globally will surge from $33billion in 2020 to $130bn by 2025, as banks increasingly look to Artificial Intelligence (AI) solutions for onboarding and Know Your Customer (KYC) requirements, a report has predicted.
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NewsFour in five UK banks say Covid-19 hampered their financial crime effectiveness, survey finds
The switch to remote working during the coronavirus pandemic has impacted on UK banks’ financial crime prevention measures at a time cases of fraud and money laundering were rising, survey respondents have said.
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NewsTNO, Rabobank and ABN AMRO report ‘good initial results’ from privacy-enhanced data-sharing AML project
A project to allow the sharing and analysing of transaction information between banks while protecting privacy of customers has had ‘good initial results’ after testing with synthetic data, a bank involved has said.
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NewsUS beneficial ownership register step closer as FinCEN publishes consultation
The Financial Crimes Enforcement Network (FinCEN) has started the regulatory process of implementing a new beneficial ownership registry for businesses by publishing an Advance Notice of Proposed Rulemaking (ANPR) seeking comment on the proposals.
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VideoUnlocking Crypto Crime – there is no such thing as Crypto currency crime. A presentation by Nick Furneaux
Regulators and financial crime compliance professionals have begun to grasp the concepts behind blockchain technology, cryptocurrencies and other virtual assets.
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NewsErnst & Young drops appeal against $10.8m penalty to laundering whistleblower
Ernst & Young (EY) has dropped its appeal against the United Kingdom’s High Court awarding former partner and whistleblower Amjad Rihan $10.8m (€9.08m) in compensation.
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NewsOnline gaming association calls for ‘decisive action” in money laundering investigations in Malta
An association of iGaming companies based in Malta has called for “clear and decisive action” to hold money launderers in the industry accountable following a series of scandals in recent weeks.
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NewsUK solicitors watchdog warns of real estate vendor fraud trend
A solicitors’ watchdog in the United Kingdom has alerted law enforcement bodies to a trend in real estate vendor fraud, in which homes are sold without the knowledge of the owners.
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BlogTime for Biden to impose AML requirements on investment advisers?
Recent media reports have suggested President Joe Biden may revive attempts to apply Anti-Money Laundering requirements to investment advisers. David Katz and J. Keith Ausbrook argue that such a move would strengthen the United States financial system.
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NewsUS court orders man to pay $571m for fraudulent Bitcoin scheme
A British man has been ordered to pay $571 million after a United States court found he had operated a scheme to defraud investors out of Bitcoin
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NewsFirst ever North Korean extradited to US to face money laundering charges
A North Korean national will be tried in the United States over allegations he laundered $1.5 million through American banks as part of a scheme to provide luxury goods to the Asian country in breach of sanctions.
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NewsEBA acts to reduce downside of AML de-risking
The European Banking Authority (EBA) has published three regulatory instruments to tackle problems with financial institutions’ de-risking practices including customers being left without access to the financial system.
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AnalysisSeven key themes from FinCrime World Forum Day Two
Here are some of the highlights and key topics of debate from the second and final day of FinCrime World Forum.
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NewsOnline gambling firm fined £3.4million for AML shortcomings and breaching license conditions
Online gambling firm Intouch Games has been fined £3.4million in the United Kingdom after breaching anti money laundering (AML) rul
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AnalysisHow powerful a weapon is AI in the fight against financial crime?
FinCrime World Forum speaker Janet Bastiman explains the benefits of using AI in Anti Money Laundering compliance processes
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NewsEBA consults on changes to guidelines on risk-based AML supervision of financial institutions
The European Banking Authority (EBA) is proposing changes to its guidelines on risk-based supervision of financial institutions’ compliance with Anti-Money Laundering (AML) and Counter Terrorism Financing (CFT) obligations.
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NewsUS man admits $5.5 million Covid-relief loan scheme fraud
A Washington man has pleaded guilty to fraud and money laundering in a scheme to obtain $5.5 million from the Paycheck Protection Program (PPP) and hide the proceeds.
