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Top StoriesWorld’s Top Banks Pumped $742 Billion Into Fossil Fuels in 2021 – Report
BankingWhy Banks Must Join Forces in the AML Fight
Top StoriesU.S. Says Russian Forces Committed War Crimes in Ukraine
Technology5 Strategic Considerations in Meeting Iso 20022 Compliance
EU Proposes Cybersecurity Rules for EU Bodies Amid Cyberattack Worries
Date: March 22, 2022
By Foo Yun Chee BRUSSELS (Reuters) – EU countries should put in place a framework to manage cybersecurity risks at EU institutions, the European Commission said on Tuesday, amid concerns about rising cyberattacks that could disrupt key activities and steal sensitive information. The proposal is part of a package of draft rules by the EU...
Blockchain Brings AML Into the Digital Age
Date: March 21, 2022
By Nish Kotecha, Chairman and Co-founder Finboot One trend to come out of the Covid-19 pandemic is accelerated digital transformation. More people are using online and mobile banking services. However, with this comes a downside – increased opportunities for fraudsters and evermore sophisticated scams. In turn, it is forcing financial institutions (FI) to up their...
2022 – a Blossoming Love Affair Between Banks and Fintechs
Date: March 18, 2022
By Dean Wallace, Director of Product Management at ACI Worldwide The way we bank has changed significantly over the last two years, never mind decade. In lockdown, we turned to tech to help manage our lives. New figures show more than 5 million UK consumers now actively use open banking. And further research has found...
We’re About to Witness a FinTech Epidemic, Kosec CEO Warns
Date: March 15, 2022
By Michael Kodari, CEO of KOSEC – Kodari Securities Fintech fraud is growing rapidly. As society becomes increasingly reliant on technology, the unfortunate truth of the matter is it also becomes more vulnerable to cybercrime, says KOSEC CEO Michael Kodari. Borderless, sophisticated and nearly invisible, cybercrime is committed anonymously, at scale and remotely; sometimes, and...
European Financial Institutions Turn Their Back on Russia
Date: March 14, 2022
By Tom Sims, Simon Jessop and Paul Arnold FRANKFURT/LONDON/ZURICH (Reuters) – Deutsche Bank reversed course and said it would pull out of Russia completely while the London Stock Exchange suspended all its services in the country as Western governments impose sanctions over the invasion of Ukraine. Deutsche, which had faced stinging criticism from some investors...
Goldman Sachs Becomes First U.S. Bank to Quit Russia
Date: March 10, 2022
By Matt Scuffham, Sinead Cruise and Niket Nishant NEW YORK/LONDON (Reuters) – Goldman Sachs Group Inc said on Thursday it was closing its Russian business, becoming the first major U.S. bank to exit following Russia’s invasion of Ukraine and putting pressure on rivals to follow. Operating in Russia has become increasingly difficult for Western financial...