Legislation

Data security platform Sotero has raised $8m in a seed extension round, which brings the round’s total to $13m.

Aspire, a platform designed to help a businesses with their financial needs, has partnered with RegTech provider Know Your Customer, to facilitate access to its financial products to underserved SMEs and entrepreneurs across Southeast Asia.

It is no secret that regulators around the world are becoming increasingly tougher on financial services companies. There is an unrelenting level of regulation being drafted and fines are hitting eyewatering sums. A report from Finbold pegged fines for non-compliance with AML, KYC and data privacy regulations at a total of €12bn in 2020.

Last year saw a 109% increase in identity fraud cases, according to a new report from payment intelligence company Fraugster.

The crypto industry has been on a white-knuckle rollercoaster over the last few years. Establishing a market presence back in 2013, the price of Bitcoin rose from just over $10,000 in 2017 to over $61,000 in October 2021. However, the market is now experiencing a bust. Was a failure to regulation to blame?

Managing risk through a customer’s lifecycle and solving compliance channels is becoming ever more important as more of the world moves into digital.

Just 15% of financial firms are monitoring WhatsApp at all, despite rising levels of fines for communication monitoring failings, according to a report from SteelEye.

Zero trust cybersecurity company Xage has raised additional funding from Chevron Technology Ventures.

With the world becoming ever more connected and linked in an unlimited number of ways, money laundering is continuing to grow in presence and stature.

KYC Portal has released a new solution that aims to reduce the most time-consuming elements in due diligence, which is the research compliance teams need to conduct to build key principles and related entities in a corporate structure.