financial-crime
TechnologyBanks’ Grip on Online Fraud Is Growing, but Fincrime Attacks Remain a Threat to the Industry’s Future
InterviewsTaking on Financial Crime: Nice Actimize Drives Ai, Cloud, and Data Intelligence to Address FI’s Challenges
TechnologyFighting Fraud: Why Should Preventing Crime Be Voluntary?
BusinessFinCrime Prevention Company, Seon, Accelerates US Growth With New Cro Hire
Companies Need to Take Preventative Measures in Tackling Corruption and Fraud
Date: April 18, 2023
Viktor Josefsson, Director, Forensic Risk Alliance The requirements for organisations to ensure proper and effective regulatory compliance have become increasingly complex in today’s globalised world. The use of data in everyday business is growing exponentially, throwing up many complexities for corporates to manage, as is the profusion of cyber-attacks both from outside and inside organisations....
India Opens New Investigation Into BBC in Widening Crackdown
Date: April 13, 2023
India opens new investigation into BBC in widening crackdown By Aftab Ahmed NEW DELHI (Reuters) -India’s financial crime-fighting agency has opened an investigation into alleged violations of foreign exchange rules by the BBC, a source told Reuters on Thursday, months after tax officials searched the broadcaster’s Mumbai and Delhi offices. The tax raids in February...
NatWest Limits Customers’ Crypto Transfers, Citing Scam Concerns
Date: March 15, 2023
By Elizabeth Howcroft LONDON (Reuters) – Britain’s NatWest has imposed new limits on the daily and monthly amount customers can send to cryptocurrency exchanges, seeking to protect consumers from “crypto-criminals”, the bank said on Tuesday. From Tuesday customer transfers to cryptocurrency exchanges will be limited to 5,000 pounds ($6,088) per 30-day period, with no more...
Why Britcoin Needs to Harness the Power of Existing Fintechs
Date: March 13, 2023
Anastasia Evans, General Counsel and Company Secretary at IFX Payments Talk of Britcoin – a UK-based central bank digital currency (CBDC) – presenting lucrative opportunities for business has been fuelled this month by Ben Broadbent, deputy governor for monetary policy. As we continue to digitise, physical cash and the legacy system we are accustomed to...
AML Checks – What Happens When Banks Are Too Slow?
Date: February 9, 2023
By Sophie Lalor-Harbord, Partner, Commercial Litigation, Stewarts and Joe Mitchell, Senior Associate, Commercial Litigation, Stewarts In 2022, the Financial Conduct Authority (“FCA”) almost doubled the number of fines it issued in 2021. We are just over one month into 2023, and the FCA has already issued two anti-money laundering (“AML”) related enforcement actions. Clearly, banks and...
Exclusive-Binance Moved $346 Million for Seized Crypto Exchange Bitzlato, Data Show
Date: January 25, 2023
By Tom Wilson and Angus Berwick LONDON (Reuters) -Crypto giant Binance processed almost $346 million in bitcoin for the Bitzlato digital currency exchange, whose founder was arrested by U.S. authorities last week for allegedly running a “money laundering engine,” blockchain data seen by Reuters show. The Justice Department on Jan. 18 said it charged Bitzlato’s...