EU plans to introduce AML authority following financial crime uptick
The European Commission has announced plans to create a new Anti-Money Laundering Authority (AMLA) following a flurry of recent financial crime scandals.
Financial consortium calls for new social, environmental reporting rules for banks
A financial group has called for the adoption of impact-reporting standards that account for social and environmental factors to speed up a sustainable transition for banks.
Is there a need for globally mandated ESG reporting requirement?
As dangers associated with climate change continue to become more inescapable in the lives of companies and individuals alike, the importance and need for ESG – Environmental, Social and Governance – in the financial sector is growing stronger. Is it time for globally mandated ESG reporting in the financial sector?
Hong Kong could introduce mandatory climate disclosures as early as 2022, HKMA claims
The Hong Kong Monetary Authority (HKMA) is apparently planning to speed up proposals to require financial organisations to disclose their climate change-related financial risks.
Study finds AML compliance costing UK firms over £28bn a year
A study by LexisNexis Risk Solutions has found anti-money laundering (AML) compliance is costing UK financial institutions £28.7bn and will raise to £30bn by 2023.
MoneeMint chooses TruNarrative for onboarding and transaction monitoring
TruNarrative has been chosen by ethical digital banking platform MoneeMint to provide customer onboarding and transaction monitoring solutions.
The TruNarrative platform will enable MoneeMint to deliver...
Veriff, Monese partner to offer secure digital banking services to Europe
Estonian identity verification firm Veriff has teamed with mobile money app Monese to provide strengthened and secure digital banking services to European consumers.
Study finds central bank digital currencies may trigger stronger forex controls
A study by the Bank for International Settlements (BIS) has discovered the introduction of central bank digital currencies (CBDCs) may lead to greater foreign exchange controls.
Anrok lands $4.3m in seed funding to solve sales tax compliance for SaaS businesses
Sales tax solution built specifically for software-as-a-service (SaaS) businesses Anrok raised $4.3m in a seed funding round co-led by Index Ventures and Sequoia Capital.
The company...
EBA finalises EEA bank supervisory reporting cost study
The European Banking Authority (EBA) has completed its study of the cost of compliance of European Economic Area (EEA) banks with the supervisory reporting requirements.
