Nigerian officials are kicking off legal proceedings against Binance and two of its senior executives, accusing them of money laundering and tax evasion.
Search Query: #financial crime
The Prosecutor’s Office of Bulgaria has concluded its investigation into UK-based crypto lender Nexo, finding no evidence of money laundering, tax crimes, computer fraud, or operating banking services without a license.
“Railgun is a significant weapon in the fight against financial crime, allowing banks and other financial institutions to accurately and cost-effectively turn the tide on the rising levels of fraud. With Railgun, banks no longer have to make assumptions or generalizations when it comes to risk profiling – helping protect millions of people worldwide.”
Scammers work globally and law enforcement agencies operate locally and regionally, which is why less than 1% of all cybercriminals are prosecuted.
The new corporate structure will take effect by the end of the Fourth Quarter 2022 with corresponding executive appointments taking effect on January 1, 2023.
“My goal over the coming quarters is to expand our data and technology footprint so that we can continue to be the leading and most trusted anti-money laundering resource to our tier one banking, crypto, fintech and financial services customers around the world.”
Firms are empowered to shift from reactive to proactive risk management by gaining access to a fully transparent view of entities across the entire organization thanks to a blend of AI, machine learning, and automation.
“Diem’s financial crime compliance framework, which is focused on protecting the integrity of the DPN and the financial system, is setting a high bar for the virtual asset industry”
QuantaVerse, a company that uses machine learning and AI to identify financial crime, has introduced a new fast-track 2-month program for High-Risk Entity Reports (HRER).
The implementation of Quantexa’s Contextual Decision Intelligence tools has helped enhance Danske Bank’s ability to detect suspicious activity within its market trading business for areas such as foreign exchange, securities and equities.
Why are these nobodies attempting to lobby the US and UK authorities? The last thing needed is another Silk Road, or for electronic trading to become associated with unbacked and non existent virtual currencies as a vehicle for duping customers. Here is a full analysis
“Verafin’s innovative fraud and AML detection platform, combined with Nasdaq’s leading trade and market surveillance solution, will empower Nasdaq to play an increasingly important role in building stronger economies around the world,” said Adena Friedman, Nasdaq president and CEO
Feedzai Solutions will support digital-first evolution for financial institutions of all sizes using a cloud-only environment
The FCA believes that the obligation has to apply to a wider range of firms, including ones that potentially pose higher money laundering risk.
Quantexa’s decision intelligence platform leverages AI to provide Standard Chartered with a connected 360-degree customer view, allowing the bank’s investigators to make faster, more accurate decisions.
UK financial services firms refused to provide services for 1.15 million prospective customers for financial crime-related reasons in 2017.
The latest “Dear CEO” Letter by the FCA addresses the topic of how banks handle the financial crime risks posed by cryptocurrencies and other cryptoassets.
At Deutsche Bank, Mr. Hazlewood’s official title was Global Head of Anti-Financial Crime and Group Money-Laundering Reporting Officer. His replacement has not been named, and is expected to be selected during the month ahead
Exiger, a company which provides risk and compliance management solutions and automated due diligence systems has appointed Robert Wilson to the board as Director. From the company’s London office, Mr. Wilson will focus on forensic accounting, a skill that is in continually increasing demand. Forensic accounting involves the use of accounting skills to investigate fraud […]
