AMLRSS

RBI investigates blockchain for financial applications in India

RBI examines blockchain opportunities for India

The Institute for Development and Research in Banking Technology (IDRBT), set up by the Reserve Bank of India (RBI), has recently issued a whitepaper, “Applications of Blockchain Technology to Banking and Financial Sector in India”. We summarise the report and highlight the key findings.

Global Fidelity Bank implements AMLtrac from iFinancial

Life is a beach in the Cayman Islands

UK-based core banking and anti-money laundering (AML) software vendor International Financial Systems (iFinancial) is implementing its AMLtrac solution at Global Fidelity Bank.

eBook: Regulatory compliance for banks – using data to unblock the road ahead

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Your bank faces more competitive pressures than ever before. Regulations nowadays regularly cost financial institutions billions. You know this. What may be unclear is how IT can help, not hinder, your competitive position. As data becomes the roadblock for compliance, so too it can become your competitive advantage. The latest techniques for handling compliance processes […]

Will regulation be a blessing or a blow for Bitcoin?

Gunnar Nordseth, Signicat

The European Commission (EC) wants to update the fourth Anti-Money Laundering directive so that it also covers virtual currencies, such as Bitcoin. In the UK, the Treasury has followed suit by announcing plans to subject virtual currency exchanges to the same regulations as banks. This isn’t surprising. Gunnar Nordseth, CEO and co-founder of Signicat, muses over the possible […]

2016: An EMEA regulatory view

Selwyn Blair-Ford is

If 2015 was all about how the financial sector continued its post 2008 crisis transformation, 2016 looks set to promise even more developments in the same vein across the EMEA region. The ongoing change continues to be remarkable in its depth and scope impacting financial institutions and technology firms like Wolters Kluwer Financial Services who exist to enable banks and others to navigate risk and regulatory complexity

Enhancing global real-time payments: tackling fraud and AML

John Bertrand is industry value engineer, banking, at SAP

Quick business successes can be built on the UK’s payment system that will play a key role in encouraging the efforts required to ensure that it achieves the “world class” status the industry is aiming for.

Correspondent banking faces ‘existential crisis’ warns PwC

Barclays' closure of correspondent accounts was discussed in the House of Commons

De-risking, motivated by short-term risk-reward calculations, should not be allowed to kill off one of the cornerstones of the global financial system. Rather than abandon correspondent banking relationships, banks should be thinking about investing in and automating their risk controls, according to a new whitepaper by PwC.

The emerging threat of trade-based money laundering in trade finance

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Money laundering is a global phenomenon, evident in many parts of the world. Techniques have ranged from simple bulk cash movements across borders to more sophisticated techniques hidden in trade transactions. As trade between the Middle East and the rest of the world continues to grow, the threat of trade based money laundering becomes more […]

Europol: cash is still king – for criminals

€500-notes

More than 30% of all suspicious transaction reports in the European Union are triggered by the use of cash, according to Europol, with the €500 note – not widely used for payments – still in demand.

National velocity checking: the answer to MSB money laundering?

Ray Stanton is managing director of SCL UK

Anti-money laundering legislation cuts through the Gordian knot of bringing cases against companies at a stroke – it doesn’t require a ‘controlling mind’. In fact, it almost demands the opposite. A UK-wide system of velocity checking would go further in combating crime and protecting Money Services Businesses.

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