Category: Financial crimes
UK FinTech Working Together to Combat Financial Crime
Since its launch in 2017, seventeen of the UK’s leading Financial Technology (FinTech) firms have agreed to join the UK FinTech Financial Crime Exchange (FFE). The Exchange, established by FINTRAIL and RUSI enables firms to collaborate […]
Cyber crime: The next systemic risk
For the second time in a little under two months, an audacious hack of major institutions spanning vast geographies was executed by cyber criminals. Companies operating in around 64 markets were breached […]
Strengthened EU rules to tackle money laundering, tax avoidance and terrorism financing enter into force
The Juncker Commission has made the fight against tax avoidance, money laundering and terrorism financing one of its priorities. Today, the Fourth Anti-Money Laundering Directive enters into force. It strengthens the existing […]
Financial institutions say biggest threat of financial crime stems from cyberspace
Banking and investment management professionals think that the biggest threat of financial crime now stems from cyberspace, according to new research. A survey of nearly 200 senior professionals working in retail banks, investment banks and […]
Legacy banks don’t have the IT to fight financial crime
Amid increased security breaches and financial crime at incumbent banks, security has become a paramount concern for these organizations. However, it’s rapidly becoming clear that banks won’t be able to shore up their defenses until they […]
Fighting financial crime: the power of industry collaboration
With the fourth EU Directive on Money Laundering coming into force in June this year and instances of financial crime becoming increasingly frequent, it is more crucial than ever for teams within […]
Head of Financial Crime Unit to Resign
After just six months in office, Peter Hazlewood will resign his post as chief of the Deutsche Bank unit tasked with fighting money laundering, Handelsblatt has confirmed. Deutsche Bank has decided to […]
Transnational Crime is a $1.6 trillion to $2.2 trillion Annual “Business”, Finds New GFI Report
WASHINGTON, DC – Globally the business of transnational crime is valued at an average of $1.6 trillion to $2.2 trillion annually, according to a new report released today by Global Financial Integrity (GFI), a Washington DC-based […]
UK authorities explore ‘Laundromat’ money-laundering claims
The role of British banks in processing hundreds of millions of pounds for a Russian money laundering scheme dubbed “the Laundromat” is attracting growing scrutiny from UK authorities, which are weighing whether […]
Fending off fraudsters: six steps to tackling financial crime in banking today
In the financial services industry, disruptive technology is generally seen as an enabler of business growth, as well as an enhanced consumer experience. For example, blockchain ledgers have the potential to significantly […]
Germany expert commission releases report recommending legalization of early-stage abortion and amended laws for later-term pregnancies – JURIST
The Commission on Reproductive Self-Determination and Reproductive Medicine in Germany on Monday submitted a final report recommending the legalization of abortion within the first 12 weeks of pregnancy in the country.The German […]
Australia judge rules in defamation trial that former government adviser raped a colleague in parliament – JURIST
Australia Federal Court Justice Michael Lee found that former government adviser Bruce Lehrmann raped a colleague in a Parliament House office on Monday. The judge dismissed a defamation lawsuit Lehrmann brought against […]
Poland classifies attack on humanitarian aid workers as murder, demands Israeli cooperation in investigation – JURIST
The Polish government on Friday labeled the death of Polish aid worker Damian Soból as murder, following the deaths of seven humanitarian aid workers from the World Central Kitchen (WCK) serving in […]
Amnesty International urges immediate investigation into war crimes in Merawi, Ethiopia – JURIST
Amnesty International asserted Friday that African and global human rights bodies must urgently investigate alleged war crimes committed by the Ethiopian National Defense Forces (ENDF) in the town of Merawi, Amhara region, […]
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