Blogs
New Blueprint for Banks to Manage Increased KYC Costs After South Africa Grey-listing
Months on from South Africa’s well-publicised grey-listing, banks in the country are working to not only comply with added responsibilities around Know Your Customer (KYC) processes, but they need to keep close tabs on rising costs. Alongside our partner,
Explaining the EU’s Proposed Regulatory Update for Ultimate Beneficial Owners and the Anti-Money Laundering Authority
The European Union (EU) recently decided to bolster efforts to combat money laundering and the financing of terrorism. The supranational body is looking to deploy a regulatory update to combat financial crime activity which focuses on how to properly monit
CFTC vs Binance: Why US Regulators Don’t Seem to Like Crypto Firms
Binance.comis facing a landmark lawsuit from a US regulator, over claims that the platform’s financial crime compliance efforts have been “a sham.”
Singapore’s Money Laundering Syndicate Scandal
Scandals and crisis are two great indicators of regulatory change. The global financial crisis in 2007 resulted in the biggest shakeup of the financial industry in living memory, possibly ever, and sparked the fintech revolution across the world.
Timeline to New Zealand's AML Amendments
In June 2023, New Zealand’s Ministry of Justice updated its webpage with important changes to the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act). These changes, known as the Amendment Regulations, have been long-awaited
US Economic Climate Underlines the Business Case for CLM Technology
The United States' economy is currently grappling with a sustained period of inflationary pressure, and concurrently, financial institutions (FIs) are being challenged to.
News
Regulatory penalties for global financial institutions surge 31% in H1 2024
Half-year annual findings on global financial institution enforcement actions reveal a 31% surge in the value of fines issued in H1 2024 compared to H1 2023.
Fenergo completes acquisition of regtech Sentinels
Fenergo has announced the acquisition of Sentinels, an anti-money laundering (AML) transaction monitoring new market entrant with artificial intelligence (AI) based technology.
Global financial institution AML and regulatory fines soar in 2023
Fenergo's annual findings on global financial institution enforcement actions reveal that the value of penalties imposed on firms surged 57% in 2023.
Fenergo Study: Emerging Risks in US Fintech Payments Since FedNow's Launch
AML talent shortages, inadequate transaction monitoring & deteriorating CX among fintech concerns with FedNow's rapid evolution.
Regulatory Penalties for Global Financial Institutions Drop by 88% in H1 2023
U.S. financial institutions continue to lead in fines, paying out 83% of the total penalty dollars, despite being cited for only 10% of the world’s regulatory violations.
Fenergo Adds AI-powered Transaction Monitoring to Solution Portfolio
Featuring a powerful hybrid detection engine supported by a robust scenario detection library, Fenergo Transaction Monitoring facilitates real-time identification of suspicious activity.
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