Legislation

Her Majesty's Revenue and Customs (HMRC) reported 17 serious data breaches to the Information Commissioner’s Office (ICO) between January 2020 and March 2021.

European merchant acquirer PAYSTRAX has picked transaction monitoring platform Sentinels to bolster its anti-money laundering processes.

Tractiv, a software company that helps financial services better understand their data, has received $2.25m in seed funding to support its product development.

Identity verification infrastructure Passbase has closed its Series A on $10m to support the creation of the first robust policy and workflow manager.

The Federal Reserve Bank of New York has launched an innovation centre aimed at boosting FinTech developments for the central bank community.

Device identity and authentication solution developer Entersekt has received a strategic investment from Accel-KKR.

Two-thirds of UK adults expect their bank to pay the bill in its entirety if they were the victim of fraud, regardless of the amount lost, a report from Akamai Technologies has found.

Muinmos was founded back in 2012 after Remonda Kirketerp-Møllersaw a big gap in the market for making client onboarding simpler and more efficient in financial services. With a rapidly growing global client base of banks, investment firms and asset managers, the company is emerging as a major player in key global markets.

The market opportunity for trade surveillance systems is steadily rising. A recent report from The Insight Partners asserted that the market will reach $2.7bn by 2028 – rising from $850m in 2019. Back in 2014, Travis Schwab sensed there would be growing demand for the sector and decided to capitalise on the gap in the market by founding Eventus Systems.

Identity verification and authentication platform Incode has earned its horn after a $220m funding round brings its valuation to $1.25bn.