434 articles tagged with this keyword
News/regulation
Block will pay a $40 million penalty to New York regulators for "significant failures" in anti-money laundering programme and virtual currency compliance failures on its Cash App platform.
11 April 2025
Revolut has been fined €3.5 million by the central bank of Lithuania for deficiencies in its anti-money laundering controls.
09 April 2025
News/ai
AI-powered anti-money laundering, screening and fraud prevention outfit Hawk has raised $56 million in a Series C funding round led by One Peak.
08 April 2025
Banks around the world paid $4.5 billion in major fines in 2024, with TD Bank accounting for two-thirds of the total after it pleaded guilty to violating US anti-money laundering federal laws.
27 March 2025
News/security
Money launderers and their mules are switching away from current accounts to savings accounts in a bid to bypass stringent bank checks brought about by APP reimbursement rules and AI-based anti-fraud tools.
05 March 2025
News/crypto
The operator of the OKX crypto exchange will pay more than $504 million in fines and fees after admitting breaking US anti-money laundering laws.
26 February 2025
Mastercard has launched a service in Asia Pacific, called Trace, that uses AI to identify and prevent money laundering and financial crime.
14 February 2025
News/retail
TD Bank has agreed to sell its 10.1% stake in investment firm Charles Schwab for about C$20 billion (US$14.6 billion) after taxes.
11 February 2025
Block has been ordered to pay a combined $255 million by state regulators and the CFPB over AML and fraud failures connected to the Cash App.
16 January 2025
Google's early-stage AI fund has led a $3 million seed round for Arva AI, a startup that helps banks and fintechs automate AML and KYB compliance.
Blockchain analysis giant Chainalysis has acquired generative AI-powered fraud detection startup Alterya.
14 January 2025
Financial crime prevention platform Themis has raised £7.25 million in scale-up funding.
12 December 2024
News/payments
Klarna has been fined Skr500 million ($50 million) by Sweden’s Financial Supervisory Authority, for anti-money laundering defects.
11 December 2024
ThetaRay has integrated with Microsoft Azure OpenAI Service to develop a GenAI financial crime detection suite.
10 December 2024
Money transfer giant Wise was ordered by European regulators to put in place a formal remediation plan over issues with its anti-money laundering controls, according to the Financial Times.
29 November 2024
Three quarters of financial services firms in the UK are already using artificial intelligence, yet nearly half of these users have only a "partial understanding" of the AI they are deploying, according to a Bank of England and FCA survey.
22 November 2024
News/crime
The UK's Financial Conduct Authority has fined Metro Bank £16.7 million for financial crime failings after a new transaction monitoring system implemented in 2016 went on the blink.
12 November 2024
The Office of the Comptroller of the Currency (OCC) has filed an enforcement action against Axiom Bank in Florida.
18 October 2024
TD Bank has agreed to pay $3 billion in penalties after pleading guilty to violating US anti-money laundering federal laws.
10 October 2024
The Financial Conduct Authority has fined Starling Bank £29 million for failings related to its financial sanctions screening.
02 October 2024
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.