Financial CrimeRSS

Corporates taking too much payment risk warns SunGard

Complex payments arrangements put corporates at risk of fraud

Four out of five organisations are leaving themselves open to payment fraud because of a lack of standardised payment workflows, according to a study by financial technology vendor SunGard.

Breaking bit


Bitcoin is the poster child of the cryptocurrency world, but it’s not alone. Michael Mainelli and Bob McDowell take a look at the real-world implications of the rise of AltCoins

International Bank of Qatar clamps down on money laundering

Credit Suisse is planning to make Doha a centre for its new asset management business, Aventicum

The International Bank of Qatar has installed a financial crime risk management platform from tech vendor Fiserv, which it says will help it to better manage its money laundering and fraud prevention strategy.

Why Yahoo’s malware attack is hitting banks hard


At the end of last year, Yahoo was hit by a malware attack. It affected over two million clients, mainly in Romania, Great Britain, France, Italy and Spain, putting their personal data at risk. Upon visiting the website between 27 December and 3 January, users received advertisements, some of which were malicious and infected users’ devices without even a click.

Banks back Swift KYC Registry initiative


A group of major international banks have agreed to jointly develop and use the centralised Know Your Customer Registry announced by Swift at the start of the year.

Swift boosts collaboration push with Financial Crime Compliance unit


Swift has created a dedicated Financial Compliance Services unit to manage a growing number of service offerings. The new unit will focus initially on the development of a Know Your Customer Registry planned for launch later this year as well as the integration and development of existing services.

2014: a good year for the fraudsters


2014 looks to be a good year for fraudsters as government and law enforcement struggle to come to terms with the issues and the continuing spread of mobile continues to offer them poorly-protected targets.

Bitcoin boom prompts banking dilemma

Bitcoin has become a global phenomenon. But will it stick?

Bitcoin is more traceable but less regulated, less expensive but more volatile, and more decentralised but less accountable, than a regular currency. Feeling confused? That’s not the half of it, according to Ernst & Young.

Locks on the door “aren’t enough” to fight financial crime says Fiserv

Jeroen Dekker: understanding the customer is key

Financial crime specialist Fiserv has just launched its Financial Crime Risk Management platform, which aims to help financial institutions to ward off financial crime and slash their risk.

Barclays loses High Court battle on remittance closures

The High Court judgement against Barclays was handed down at the Royal Courts of Justice (pictured)

The UK High Court has ruled against Barclays in a case brought by remittance provider Dahabshiil, granting an injunction preventing the bank from closing Dahabshiil’s account.