Tag: AML

August 16, 2018 BY Valentina Kirilova

Archax teams up with Custom House for KYC & AML checks

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…

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June 06, 2018 BY Valentina Kirilova

FCA fines Canara Bank £896,100 and imposes a restriction

The 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…

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April 25, 2017 BY admin

iSignthis delivers new automated AML/KYC payment solution to Forex broker XM

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…

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December 06, 2016 BY admin

FINRA fines Credit Suisse $16.5 million for AML deficiencies

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…

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November 09, 2016 BY admin

Valutrades chooses iSignthis for customer on-boarding

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…

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September 21, 2016 BY Mike Fox

Hong Kong regulator investigating brokers for AML shortfalls

Hong 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…

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August 12, 2016 BY Mike Fox

FinCEN issues final due diligence rules and AML procedures for FCMs and IBs

The 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…

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July 26, 2016 BY Mike Fox

NextAngles launches cognitive regulatory compliance tool

Financial 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…

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July 13, 2016 BY Mike Fox

Invast chooses identity specialist GBG for client on-boarding

GBG, 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…

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