UBS hit with $8m SEC fine over volatility-tied compliance failures
UBS Wealth Management USA has agreed to pay a $8m fine to the Securities and Exchange Commission (SEC) over its failure to properly supervise...
Why AI-powered adverse screening should be core software for FI’s
As risks of financial crime continue to rise in the digital world, companies will need to improve the use of technology-powered solutions. Adverse media screening is of growing importance and can offer more than just security.
India bars Mastercard from onboarding new customers due to data storage non-compliance
Reserve Bank of India has indefinitely barred Mastercard from issuing new debit, credit or prepaid cards to customers in the South Asian market over noncompliance with local data storage rules.
MAP FinTech outlines best execution monitoring compliance importance
European RegTech leader MAP FinTech has underlined how RegTech companies can remain compliant with best execution obligations going forward.
Can modern technology assist regulated institutions in their AML commitments?
Technology has the potential to combat money laundering and terrorist financing (AML/CFT) therefore making compliance faster, cheaper and more efficient, according to a new blog post by Sigma...
The Monetary Authority of Singapore launches new competition for data analytics and AI solutions
The Monetary Authority of Singapore (MAS) has launched a new competition designed to accelerate the development of AI and data analytics (AIDA) solutions.
FCA provides warnings to banks over money laundering failings
The Financial Conduct Authority (FCA) has issued warning letters to retail banks due to ongoing weaknesses and failings around their financial crime controls.
Financial anti-crime startup Quantexa snags $153m to accelerate growth
UK-based Quantexa has raised $153m in a funding round led by Warburg Pincus along with a slew of undisclosed blue-chip investors as it seeks...
FCA slaps Lloyds Bank’s insurance division with £90m fine for misleading customers
The Financial Conduct Authority (FCA) fined the insurance division of Lloyds Bank £90.7m for sending misleading renewal quotes to nine million customers.
The regulator stated...
Two fifths of UAE consumers experience online fraud attempts
Two fifths of consumers in the UAE have experienced an online fraud attempt, of which, half would contact law enforcements if it is successful.