RegTech Insight Financial Crime, KYC & AML The latest content from across the platform
How Blockchain Can Help Reduce the Threat of Trade-Based Money Laundering
By Henry Roxas, Head of Trade Finance, R3. The amount of money laundered globally in a single year has been estimated at as much as $2 trillion. Despite billions of dollars of investment in preventative measures, financial institutions are only managing to intercept less than 0.1% of illicit funds. Evidently, money laundering is a booming…
Recorded Webinar: Adverse media screening – how to cut exposure to criminal activity, from money laundering to human trafficking
Screening for adverse media coverage of counterparties presents an incredible opportunity for financial institutions to limit risk exposures and identify bad actors early. It is required by regulations such as the EU’s sixth Anti-Money Laundering Directive (AML 6), and is one of the most effective ways to steer clear of potential connections with sanctioned activity…
ACA Group Adds e-Comms Surveillance with Catelas Acquisition
ACA Group’s acquisition of e-comms surveillance specialist Catelas is the latest step in its bid to create a comprehensive solution designed to meet all the needs of compliance professionals based on its Compliance Alpha platform. Catelas boosts ACA’s capabilities in the surveillance area, and brings with it a host of major clients allowing ACA to…
SIX Fintech Ventures Leads $8 Million Funding for Crypto RegTech Coinfirm
SIX Fintech Ventures, the corporate venture arm of Swiss exchange operator and data vendor SIX, has co-led an $8 million Series A funding round for Coinfirm, which operates a blockchain-based AML Platform for crypto assets designed to protect against ransomware hacks, human trafficking, sanctions evasion and terrorist financing by risk scoring entities, addresses and transactions. As part of the…
PassFort Raises $16.2 Million to Fund Expansion
Financial crime compliance automation specialist PassFort has raised $16.2 million through its recent Series A funding. The company, whose SaaS-based platform automates financial crime and compliance processes, will use the funds to realise its global growth plans. The funding round was led by the US growth equity fund, Level Equity, with participation from PassFort’s existing…
Australia’s Identitii Launches SaaS-Based AML/CTF Platform to Reduce Regulatory Risk
Australia-based Identitii, which specialises in helping regulated entities including banks and other ‘money services’ providers manage regulatory risk, has launched a SaaS-based reporting and compliance platform aimed at addressing AML and counter-terrorist financing (CTF) reporting obligations. The cloud-based platform delivers end-to-end reporting automation and future proofs compliance by accepting any payment file format used today…
LexisNexis Scoops Up Crime and Onboarding Specialist TruNarrative
LexisNexis Risk Solutions UK has swooped in to acquire TruNarrative, a Leeds-based provider of financial crime and client onboarding solutions. The deal widens the scope of LexisNexis capabilities to include corporate customers as well as financial services firms of all types. TruNarrative, founded in 2016, provides a cloud-based orchestration platform that allows for simplified and…
Clausematch Survey Shows Acceleration in RegTech Uptake
Financial institutions accelerated spending on regulatory technology during the pandemic, a survey of almost 40 organisations conducted by Clausematch has found. The survey also suggested that practitioners would like to see regulators take a more proactive role in promoting the adoption of technology in compliance. More than 42% of survey respondents witnessed sharp rise in spending…
HWM Group Acquires Koger Assets to Expand Fund Admin, Regulatory Offerings
HWM Group, a Dublin-based provider of investor services and regulatory solutions to alternative and retail fund administrators, has acquired the assets of Koger Inc., a global supplier of fund administration software. The acquisition strengthens HWM’s offerings in the fund administration and transfer agency technology space, allowing it to offer expanded fund administration and regulatory compliance…
SETL Launches Verafide Digital Credentials Platform for KYC, Other Verification Challenges
Blockchain operator SETL’s Verafide subsidiary has launched its open-source platform for verifying digital credentials and identification on the SETL enterprise blockchain, allowing issuers, holders and verifiers to set up and maintain a digital credentials ecosystem. The Verafide platform is aimed at helping firms fulfill their KYC obligations, adopt more seamless and transparent customer onboarding processes…