HSBC signs multi-year AML partnership with Polish fintech Silent Eight
The bank’s global compliance division will deploy the Silent Eight’s resolution alert system.
Financial Crime & Fraud
2020 review: 10 largest regulatory fines this year
The fines kept flowing even in a year as turbulent as 2020.
FCA makes major changes following LCF and Connaught review
Firms that have not used their regulatory permissions for the last 12 months are at risk of having it revoked.
Cyberpunk 2077 makers face potential securities class action lawsuit
Cyberpunk 2077 – from lawsuits and refunds to big wins from hedge funds.
The time is now to update your finance operations
Modernising the finance department should be a priority.
Former ING CEO Ralph Hamers faces probe over historic AML failures
Hamers moved to Zurich in September to become CEO of UBS.
AI will explain it to you
Explainable AI removes removes the last barrier in entrusting transaction monitoring to algorithms.
Glitch-riddled TSB goes down again on payday
“[It’s] payday so it means that TSB online banking and app is down again.”
Banking Tech Awards 2020 hosted online by Tom Ward
Join comedian Tom Ward for the 2020 Banking Tech Awards. Broadcast online on 10 Dec, 3:30pm GMT and is free to attend.
Report: Digital KYB – a springboard to customer onboarding success
FinTech Futures’ latest in depth industry report on KYB, in partnership with DueDil.
Forter raises $125m in Series E funding to secure $1.3bn valuation
Fraud prevention firm plans to build on its data network.
E-book: The dawn of end-to-end AML compliance
The components of an end-to-end AML compliance solution and how to put your organisation on the right path.
ING subsidiary Payvision accused of pushing €131.2m in fraudulent payments
ING acknowledges the claim, but cannot comment further at this time.
Deepfakes in finance: a threat to be wary of?
Fraudsters are turning to synthetic identities to open new accounts.
Monte dei Paschi ex-boss and former chairman sentenced to jail
The three former execs were ordered to pay damages claimed by some of the bank’s savers.
Effectively combating fraud while staying user-friendly
The current cyber threat landscape, authentication methods and how the industry continues to fight back.
FCA and PRA fine Goldman Sachs £96.6m for 1MDB scandal
The investigation found that GSI breached a number of FCA and PRA principles and rules.
Silent Eight lands $9m to help firms tackle money laundering
The start-up says it has doubled its valuation in just over a year.
Daily News at Sibos 2020
Download your free copy of the Sibos supplement today!
Wirecard operations cease in Singapore, MAS slaps down more charges
Wirecard SG needs to return all customer funds within the next two weeks.
PayTech Awards 2020 now on YouTube: celebrity host, comedy stand-up, winners and more!
Watch Zoe Lyons perform her stand-up and unveil the winning projects, companies and people of PayTech Awards 2020.
Video: Top fintech stories this week – 25 September 2020
FinTech Futures’ weekly news round-up.
Report: What keeps AML & CFT professionals awake at night?
Do your peers share your compliance challenges and professional pains?
Revolut faces lawsuit in Romania over blocked account
Revolut faces 3,911 complaints so far this year, as compared to its 2,487 for the whole of 2019.
Fraudsters rake in £58m during COVID-19 by impersonating banks
Impersonation scams have risen 84% in 2020.
FCA shuts down half its money-laundering investigations in 2020
It stopped seven of the 14 investigations into money laundering since January.
FinovateFall 2020: making the cost of compliance work for you and against the fraudsters
Discover the key to undermining the ability of criminals to profit from cyber-fraud.
EBA calls for EU-wide set of anti-money laundering rules
European regulator says national rules have had “an adverse effect” on AML.
Wirecard’s UK subsidiary WCS confirms Railsbank deal
Update 10/09/2020: An asset purchase agreement with Railsbank subsidiary PayrNet Limited has been signed.
Regulators’ “fast and furious” AML fines don’t tell the whole compliance story
FinTech Futures speaks to Fenergo’s Rachel Woolley about the rise in penalties.
HMRC reveals £3.5bn in furlough payments sent in error
Around 5-10% of the scheme’s payouts have been made in error, says government body.
UK Finance scheme stops £19m of fraud in 2020
The Banking Protocol teams up police and bank staff to stop fraudsters in branches.
Chile’s BancoEstado falls victim to ransomware attack
The hackers are believed to be criminal cybergang REvil.
UK crime agency criticised for inaction over alleged bank forgery
“You can’t ‘assess’ for 15 months.”
Modulr is first non-bank to launch Confirmation of Payee
The second product launch by the fintech since its £10m grant.
How government and businesses can protect minors online in a post-pandemic world
Any organisation that profits from selling age-restricted products and services should be held accountable.
YOU are the first line of your own defense for fraud prevention
Be vigilant online! You are your first line of defense against fraud.
How banks can balance UX and security amid a pandemic
How face-based biometrics and AI can deliver smooth digital onboarding and stamp out fraud.
Video: Top fintech stories this week – 28 August 2020
FinTech Futures’ weekly news round-up.
Wirecard lets 730 employees go, more than half its workforce
The Munich court opened insolvency proceedings on 25 August.
