Scandinavian countries are some of the most technologically advanced in the world, including in the area of real-time payments. Take Norway for example. The Nordic country launched real-time payments back in 2013, several years before the introduction of the pan-European SCT Inst payments scheme (also...
The U.K.’s major banks have joined forces to protect consumers’ access to cash. A new nonprofit company called Cash Access UK has been set up by the country’s main banks and building societies to promote the development of shared banking hubs across the country. According...
The United Kingdom’s Competition and Markets Authority (CMA) this week announced that it has directed NatWest to issue refunds after it was found to have breached banking rules that forbid “bundling.” By forcing business customers to open a current account to secure a loan, businesses...
Denmark-based Danske Bank has come under fire for lackluster protocols in place following a money laundering scandal, according to a Wednesday (Oct. 20) report from the Financial Times. Sweden’s Financial Supervisory Authority pointed out deficiencies in Danske Bank’s money laundering prevention efforts and said the...
October 08, 2018
Sure, the continuing-to-unfold scandal at Danske Bank has been shocking. However, as Akli Adjaoute, founder and CEO of Brighterion, tells Karen Webster, it’s not really surprising. The reality, he says, is that banks worldwide are using costly AML prevention tools that just don’t cut it. Find out what he thinks it’s time for banks to break the AML fraud prevention tech rules.
July 19, 2023
The Federal Reserve has fined Deutsche Bank $186 million, saying it has made “insufficient remedial progress” on earlier consent orders around sanctions compliance and anti-money laundering (AML) controls. The new consent order and fine relate to consent orders issued in 2015 and 2017 that had to do with deficient AML internal controls and governance processes […]
December 19, 2022
The U.K.’s major banks have joined forces to protect consumers’ access to cash. A new nonprofit company called Cash Access UK has been set up by the country’s main banks...
October 20, 2021
Denmark-based Danske Bank has come under fire for lackluster protocols in place following a money laundering scandal, according to a Wednesday (Oct. 20) report from the Financial Times. Sweden’s Financial...
June 30, 2021
Denmark-based Danske Bank, which operates MobilePay, has reached an agreement with OP Financial Group in Finland, which owns Pivo, and the Norwegian banks behind Vipps to merge their mobile payment...
