Legislation

Documents from the US Financial Crimes Enforcement Network (FinCEN) were leaked to the press and published globally in September 2020. It exposed over 2,100 documents and around $2trn in transactions and showed how some of the world’s largest banks enabled criminals to move dirty money around the globe. A year on, has the industry been able to clean up its act?

Digital identity command centre Alloy has secured $100m in its Series C funding round, bringing its valuation to $1.35bn.

A recent webinar by Alessa by Tier 1 Financial Solutions has examined what constitutes a politically exposed person (PEP) and why relationships with certain PEPs may offer increased financial crime threats.

ForMotiv, which leverages behavioural data to help insurance carriers detect fraud, has experienced a stellar 500% annual recurring revenue (ARR) growth in 2021, culminating in the close of its seed round on $6m.

Irish RegTech platform Dataships has reportedly raised $3m in a seed funding round.

Third-party security risk management platform Panorays has collected $42m in its Series B funding round.

Global cybersecurity platform Jscrambler has secured $15m in its Series A funding round.

After identifying a compliance gap in 4AMLD, back in 2017, KYC portal was able to set itself up to become a major RegTech provider.

The European Securities and Markets Authority (ESMA) has fined trade repository UnaVista for alleged breaches of the European Market Infrastructure Regulation (EMIR).

Identity verification platform cheqd has reportedly raised $2.6m in a funding round to support the launch of its platform later this year.