Tag: financial institutions
Ensuring FATCA and CRS compliance in the Channel Islands: Key requirements...
Financial institutions in the Channel Islands, specifically Jersey and Guernsey, must adhere to stringent compliance requirements under the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS). These frameworks are crucial in upholding international tax transparency by ensuring institutions report relevant financial information to tax authorities.
Ozone API and ProductCloud unite to simplify Australian open banking compliance
Ozone API, a UK-based FinTech specialising in open banking technology, has partnered with ProductCloud, an Australian platform designed to streamline financial product information management.
Quantifind secures $22m funding to expand AI compliance solutions
Quantifind, a leader in AI-powered financial crime intelligence, has announced it raised $22m in its latest funding round.
TAINA: Automating compliance under the Cayman Islands’ CRS framework
The Cayman Islands’ Department for International Tax Cooperation (DITC) has announced plans to strengthen its enforcement of the Common Reporting Standard (CRS).
Taina Tech, which...
Understanding the 3 stages of money laundering: How AML integration protects...
Money laundering is a global issue, undermining economies and enabling illicit activities by disguising illegal funds as legitimate. This pervasive challenge affects financial institutions and high-risk industries, making Anti-Money Laundering (AML) measures essential to combat it effectively.
Czech cybersecurity startup Wultra raises €3m to combat quantum threats
Czech cybersecurity firm Wultra, known for its advanced post-quantum authentication solutions, has raised €3m in a Seed+ funding round.
The funding round was led by...
Archive Intel raises $1.5m to expand AI-driven compliance solutions
Archive Intel, a leader in AI-powered compliance archiving solutions, has secured an additional $1.5m in funding to accelerate its growth.
ThreatMark secures $23m to bolster online fraud prevention
ThreatMark, a cybersecurity company focused on fraud prevention for financial institutions, has secured $23m in a funding round led by Octopus Ventures, Riverside Acceleration Capital, and Springtide Ventures.
How secure collaboration is transforming financial crime detection
Money laundering activities in the United States alone are estimated to total $300bn annually. In 2023, penalties for anti-money laundering (AML) violations in the...
How 6AMLD is shaping the future of AML efforts in Europe
According to recent analyses, such as a report from NASDAQ, financial crime continues to funnel a staggering $3.1 trillion through the global financial system annually.