Saturday, June 19, 2021

Technology

NICE Actimize Selected by IDB Bank NY to Innovate Anti-Money Laundering Compliance and Investigation Management Using Advanced AI

NICE Actimize, a business and the leader in Autonomous Financial Crime Management, has been selected by Israel Discount Bank of New York (IDB Bank), a New York State-chartered commercial bank, to spearhead improvements within its financial crime operations with...

The NextGen Technologies That Could Save Financial Institutions Billions

An increasing number of European banks and their supervisory authorities are being drawn into money laundering allegations. According to the Organised Crime and Corruption Reporting Project (OCCRP) the latest allegations on ‘Troika Laundromat’ involved the use of a complex network...

Binance partners with CipherTrace to enhance anti-money laundering compliance

Binance announced a partnership with CipherTrace, a blockchain security company, with the aim of enhancing the exchange’s anti-money laundering (AML) compliance program. CipherTrace , a blockchain security company, is teaming up with Binance in order to help the exchange enhance...

Jaravijit siblings plead not guilty to $24 million bitcoin theft

According to the Bangkok Post, the three Jaravijit siblings that are accused of money laundering chargers – Prinya, Supitcha, and Jiratpisit – have decided to plead “not guilty.” The trio appeared in Criminal Court last week, charged with collusion and conspiracy...

How Peer-to-Peer Crypto-Exchanges is A Haven for Money Laundering

Buyers and sellers can exchange cash in person, transfer bank funds online or can exchange funds for prepaid cards, gift cards or other cryptocurrencies. The need to launder money is omnipresent in the criminal world, and lately, a new way...

Greek court rules to extradite Alexander Vinnik in $4 billion bitcoin laundering

A Greek court has ruled to extradite the alleged former operator of crypto exchange BTC-e, Alexander Vinnik, to France, local news outlet CNN Greece reported Friday, July 13. The 39-year old Russian national Vinnik, also known colloquially as “Mr. Bitcoin,” was indicted by U.S. authorities...

South Korea’s Bithumb loses $31.5m worth of virtual coins in cryptocurrency heist

The South Korean cryptocurrency exchange Bithumb said 35bn won ($31.5m) worth of virtual coins were stolen by hackers, the second local exchange targeted in just over a week as cyber thieves exposed the high risks of trading the digital...

Money-Laundering Task Force Wants Binding Rules for Crypto Exchanges

The Financial Action Task Force (FATF), an intergovernmental organization that develops policies to tackle money laundering, is planning to develop binding rules for the world’s cryptocurrency exchanges, a report indicates. According to a Reuters report on Tuesday, an unnamed Japanese government official said...

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