Reserve Bank of India fines four banks for KYC and AML failures
The Reserve Bank of India (RBI) has implemented fines to four banks for non-compliance with KYC, AML, and account opening standards.
Four Singapore-based RegTechs to watch
The regulatory technology sector has been growing at a feverish rate. Last year, a total of $4.4bn was invested to starups in the space around the world – 2.5-times the amount raised in 2017, data from RegTech Analyst shows.
Bleckwen launches from stealth, to reveal $10m investment close
Bleckwen, which leverages real-time behavioural analytics platform to detect fraud in payments, has come out from stealth, revealing the close of a $10m funding round.
Ocrolus nets $24m Series B to help expand into new verticals
Ocrolus, which automatically analyses financial documents, has bagged $24m in its Series B, supporting its expansion into new verticals.
The People’s Bank of China reportedly looking to collaborate globally to combat money laundering
The People’s Bank of China (PBOC) is reportedly looking to improve its cross-border cooperation with countries around the world to combat money laundering.
TypingDNA partners with XTN Security to help banks comply with PSD2
TypingDNA has partnered with cybersecurity startup XTN Security to help banks better defend themselves from fraud threats.
GIACT Systems teams with Equifax to bolster fraud prevention
Identification and authentication platform GIACT Systems has formed a strategic partnership with Equifax to improve fraud prevention for customers.
The FCA fines Bank of Scotland £45.5m for failing to report fraud suspicions
The Financial Conduct Authority (FCA) has fined Bank of Scotland (BOS) £45.5m for failing to disclose information on fraud suspicions.
Capnovum joins PwC’s inaugural LegalTech accelerator
Compliance management platform Capnovum has been selected by PwC’s new to join the 10-week scaleup accelerator.
Visa’s advanced authorisation technology has prevented $25bn in annual fraud
Visa has revealed its advanced authorisation technology, which is powered by AI, has helped institutions prevent around $25bn in annual fraud, according to its latest analysis.
