Tag: Financial Technology

The Australian Government recently unveiled a consultation aimed at overhauling its AML and CTF strategies.

The Payments Systems Regulator (PSR) and the Financial Conduct Authority (FCA) have jointly initiated a call for information to assess the rapidly growing influence...

The United Arab Emirates (UAE) is experiencing a notable economic surge, becoming a magnet for foreign investments and job opportunities. This economic growth is coupled with ambitious plans under the UAE Digital Economy Strategy launched in April 2022, aiming to increase the nation's GDP contribution from digital services from 9.7% in 2022 to 19.4% over the next decade. The strategy positions the UAE as a pivotal digital economy hub both regionally and globally.

Napier AI has responded to a consultation from HM Treasury, the UK government's economic and finance ministry, on enhancing the effectiveness of the Money Laundering, Terrorist Financing, and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs). These regulations require businesses to identify and prevent money laundering and terrorist financing.

The Common Reporting Standard (CRS) has significantly impacted financial institutions (FIs) globally, aiming to enhance tax transparency and cooperation among jurisdictions. Taiwan's Ministry of Finance, in a report issued in May 2024, highlighted several ongoing deficiencies in Taiwanese financial institutions' adherence to these requirements.

The 2024 1LoD Surveillance Benchmarking Survey & Report, featuring insights from over 30 leading global banks, has highlighted the pressing need for banks to update their call surveillance practices. Sponsored by Wordwatch, the report outlines the operational and financial risks associated with maintaining multiple legacy systems.

In today's financial landscape, AML transaction monitoring is key for protecting the integrity of financial institutions and the global financial system.

Fraudsters can now easily create fake documents online or purchase forged ones with just a few clicks.

Tiller Technologies, a leading RegTech company, has teamed up with HSBC Expat, a branch of HSBC Bank specialised in services for expatriates, excels in offering tailored banking solutions across the globe.

In the financial sector, the spotlight has recently intensified on non-financial misconduct, spurred by the Financial Conduct Authority's (FCA) focused initiatives and investigations into issues like sexism, bullying, and discrimination.