Tag: banking sector
Insights from a data scientist: Implementing AI in financial crime compliance
The financial services industry is undergoing a transformation driven by artificial intelligence (AI) technologies, particularly machine learning (ML). These advancements are significantly enhancing anti-money laundering (AML), counter-financing of terrorism (CFT), and sanctions screening as part of customer lifecycle management (CLM).
Boosting bank security: How HCL BigFix aligns with RBI’s latest compliance...
The Reserve Bank of India (RBI) serves as the primary financial regulator in India, steering monetary policies and overseeing the nation's banking framework. In a move to enhance cybersecurity in the financial sector, the RBI has unveiled its Cyber Security Framework, which sets a comprehensive suite of controls and guidelines to mitigate growing security risks effectively.
EBA seeks input on hedge standards for banking sector
The European Banking Authority (EBA) has initiated a public consultation regarding its draft Regulatory Technical Standards (RTS) focused on the criteria for identifying hedging...
Deutsche Bank faces $186m penalty over AML failures
Deutsche Bank has been hit with a fine of $186m by the Federal Reserve Board due to deficient AML practices and other violations.
Bank of Italy and associates embark on CBDC pilot
The Bank of Italy has revealed it is spearheading an innovative project to explore the potential of a CBDC.
Verisk Analytics buys Bangalore-based RegTech Fintellix
Fintellix, a Bangalore-based provider of compliance solutions for the banking sector, has been purchased by Verisk Analytics.
