Through the exchange of client data, the Monetary Authority of Singapore (MAS) has announced the creation of a new centralised digital platform named Cosmic, which is intended to assist banks in the fight against money laundering and terrorism funding.
The former CEO of the defunct Turkish cryptocurrency exchange Thodex, Faruk Fatih Ozer, was found guilty of cheating investors in a multimillion dollar scam and has begun serving a lengthy prison sentence.
To combat money laundering and the funding of terrorism, the Monetary Authority of Singapore (MAS) has introduced a centralized digital network that enables financial institutions to share client information.
Brittany Allen, the trust and safety architect at Sift, discusses new fraud concerns in an exclusive conversation with Finextra at Merchant Payments Ecosystem 2024. She also discusses how misinformation on social media is a key worry with AI-driven technologies.
An anti-money laundering (AML) module has been made available by Wolters Kluwer Tax & Accounting (TAA) U.K. in its cloud-based practice management and compliance software platform, CCH iFirm.
Landsbankinn in Iceland is benefiting from the smooth integration of Swift's Transaction Screening Service (TSS) with CBA's IBAS GBF - Global Banking Factory - which the bank uses to run its banking operations in payments and trade finance, according to a statement released today by Norwegian software vendor Commercial Banking Applications AS (CBA).
An Indian regulator punished Paytm's banking division 55 million rupees, or roughly $663,000. The fine was imposed due to allegations of money laundering.
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Finastra introduces a small business DFA 1071 compliance data gathering module.
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