TD Bank’s chief compliance officer, Monica Kowal, has reportedly left the bank. Kowal left the bank during the past week, and an internal memo that announced the move in late June did not mention a reason, Reuters reported Sunday (July 7), citing the memo. TD Bank did not...
Hawk’s artificial intelligence (AI)-powered anti-financial crime platform now includes additional capabilities for spotting risk by identifying links between data points. The company’s new Entity Risk Detection module brings together entity resolution and network analysis with real-time risk identification, according to a Wednesday (July 3) press...
Federal investigators say drug traffickers laundered money through Citigroup, believing it had looser fraud measures. As the Financial Times (FT) reported Monday (July 1), a newly unsealed indictment alleges that a pair of California residents — accused of working with the Sinaloa drug cartel —...
Singapore has identified banks as the entities posing the greatest money laundering (ML) risk to the country. The Monetary Authority of Singapore (MAS), which is a government agency, said this in a Money Laundering National Risk Assessment released Thursday (June 20). “The role of banks in facilitating...
May 29, 2024
Defining “payments modernization” is no easy task. If you asked 10 different payments executives to define it, you might get 10 different answers. But for payment processor Thredd CEO Jim McCarthy, payment modernization is a basic mission rather than an abstract concept. As he told PYMNTS for the “What’s Next In Payments” series, modernization is […]
May 16, 2024
The best, and most lasting innovations, are those that beget other innovations. That’s because innovation rarely happens in isolation. The strongest pushes of forward progress frequently build upon existing knowledge, technology...
April 26, 2024
Artificial intelligence (AI) holds the promise to transform all manner of industries — helping banks, in particular, improve their anti-money laundering (AML) efforts. But as Chris Caruana, VP of Strategy...
November 22, 2023
Cryptocurrency exchanges play a vital role in the digital asset ecosystem. They facilitate the buying, selling, trading, transferring, and storing of both individual and institutional holdings of the more than...
July 12, 2024
German financial regulator BaFin said Friday (July 12) that Solaris SE faces financial penalties if it doesn’t improve its controls. Solaris, which has a banking license in Germany but focuses on providing white-label services to other banks, has not fixed issues as ordered by BaFin in 2022, Bloomberg reported Friday (July 12), citing a statement from BaFin. In addition, new […]
July 07, 2024
TD Bank’s chief compliance officer, Monica Kowal, has reportedly left the bank. Kowal left the bank during the past week, and an internal memo that announced the move in late June did...
July 03, 2024
Hawk’s artificial intelligence (AI)-powered anti-financial crime platform now includes additional capabilities for spotting risk by identifying links between data points. The company’s new Entity Risk Detection module brings together entity...
July 01, 2024
Federal investigators say drug traffickers laundered money through Citigroup, believing it had looser fraud measures. As the Financial Times (FT) reported Monday (July 1), a newly unsealed indictment alleges that...
