Deal Updates

Financial institutions in the Channel Islands, specifically Jersey and Guernsey, must adhere to stringent compliance requirements under the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS). These frameworks are crucial in upholding international tax transparency by ensuring institutions report relevant financial information to tax authorities.

ZeroRisk, an Irish firm specialising in compliance and cyber risk management tools for the payment industry, has secured $4m in a funding round.

Gartner introduced Digital Communications Governance and Archiving (DCGA) in 2023, recognising a growing need for compliance and security solutions within modern communication tools. Theta Lake, a DCGA platform, recently explored what DCGA compliance is and what firms need to know.

Ensuring accurate name matching is a fundamental aspect of regulatory compliance, particularly in areas like KYC (Know Your Customer) and AML (Anti-Money Laundering). However, screening names across different languages and scripts presents a significant challenge. To address these complexities, IMTF partnered with Babel Street to enhance precision in name matching and reduce compliance risks.

The landscape of financial crime risk management is in constant flux, influenced heavily by the dynamic interplay of emerging technologies and evolving governmental and international regulations.

Worldpay, a prominent player in PayTech, is set to acquire Ravelin, a leading AI-native fraud prevention platform based in London.

Semgrep, an application security platform, has successfully secured a substantial $100m in its Series D funding round.

Astra Security, a cybersecurity firm, has recently successfully closed a $2.7m funding round.

Accurate carbon accounting is essential for businesses to maintain credible sustainability reports. However, errors in data entry, classification, and supplier engagement can lead to miscalculations of greenhouse gas (GHG) emissions. From misclassifying primary and secondary data to inconsistent emission factors, ESG FinTech company Position Green has outlined six common mistakes companies should avoid for better compliance and transparency.

Compliance violations are a critical issue for any firm, particularly in the regulated world of FinTech.