Archax, the upcoming institutional-grade crypto exchange, has announced that it has partnered with Custom House Global Fund Services to perform Know Your Customer (KYC) and Anti Money Laundering (AML) checks on firms and professional investors wishing to join and trade on the Archax exchange. These checks will also be performed on all entities wishing to…
Read moreThe Financial Conduct Authority (FCA) has informed the public that it has fined Canara Bank £896,100 and has imposed a restriction, preventing it from accepting deposits from new customers for 147 days. Financial services firms are required to maintain robust anti-money laundering (AML) systems and controls, since they are at risk from those seeking to…
Read more
The following article was written by Brandon Russell, CEO of Etana Custody. In the modern globalized world money launderers and other criminal elements have come up with plenty of resourceful ways to cover their tracks. It is a common practice among such groups to use the everyday activities of legitimate entities such as banks, credit…
Read more
iSignthis Ltd (ASX: ISX) an Australian based leader in digital AML/CTF KYC identity proofing has launched Paydentity, a new automated identity, and payments system which will be used by Forex brokerage XM.com, the trading name of Trading Point Holdings Ltd. to reduce the time customers spend onboarding while keeping in line with all existing and upcoming regulations. The…
Read more
The U.S. based regulator Financial Industry Regulatory Authority (FINRA) announced today that it has fined Credit Suisse Securities (USA) LLC $16.5 million for anti-money laundering (AML), supervision and other violations. The regulator just last week, sanctioned Merrill Lynch $7 million for inadequate supervision of leverage in customer brokerage accounts. In this case, FINRA found that Credit…
Read more
iSignthis Ltd (ASX:ISX) has announced today its latest global brokerage sign up as the firm has entered into an agreement with UK FCA regulated Valutrades, which offers FX & CFD trading. Highlights: ISXPay to process payments to Valutrades nominated acquirers iSignthis to remotely verify Valutrades customers Valutrades to meet the EU's 4th AML Directive and…
Read moreHong Kong's Securities and Futures Commission’s (SFC) Enforcement Division announced they are investigating a number of cases of SFC licensed brokerages with suspected inadequate anti-money laundering (AML) internal controls and it expects to bring a number of enforcement proceedings as a result. The SFC wants to draw the attention of licensees that they are expected…
Read moreThe Financial Crimes Enforcement Network (FinCEN) today issued final rules relating to customer due diligence requirements that are applicable to futures commission merchant (FCM) and introducing broker (IB) Members. Under the new rules, FCM and IB Members will be required to identify and verify the identity of beneficial owners of legal entity customers. The final…
Read moreFinancial technology solutions provider NextAngles today announced the launch of its flagship compliance solutions for financial institutions grappling with increasing regulatory and market pressures. The solutions suite includes: Anti-Money Laundering (AML) Alert Investigation, Trade-Based Money Laundering (TBML) Alert Generation and Investigation, Know Your Customer (KYC), Financial Crimes Investigation, and Liquidity Risk Management. Developed by industry…
Read moreGBG, the global specialist in identity data intelligence today announced it is providing identity verification technology to Australia based multi-asset brokerage and prime services provider, Invast Global. The partnership brings an enhanced level of identity intelligence to Invast’s on-boarding process, supporting its comprehensive anti-money laundering (AML) program and driving expansion into major growing international markets…
Read more