Tag: compliance

Explore the RegTech Revolution

More than four out of five anti-money laundering and customer onboarding professionals simply use Google

While the growing number of money laundering scandals have confirmed the need to protect businesses against fraud, many analysts simply rely on Google. Having surveyed 156 anti-money laundering (AML) and know your customer (KYC) professionals, RegTech company Arachnys has revealed that 85% used Google for their due diligence or risk investigations. Moreover, 16% even stated…
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24th March 2020 0

Deutsche Bank’s latest compliance failures risk post-Brexit ‘passport’: FT

Bank of England officials have voiced concerns that Deutsche Bank is failing to improve its anti-money laundering (AML) and compliance controls and have warned the German lender that it could lose access to the UK market following Brexit, the Financial Times reported Monday. The bank’s latest compliance troubles come four years after it was first…
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5th March 2020 0

European Union unsure how to regulate Facebook’s Libra

The EU cannot work out exactly what Libra is according to a memo by European Commission executive vice-president, Valdis Dombrovskis. Dombrovskis refers to the “need to ensure clarity” about what Libra is, but that the information provided by Facebook is not sufficient. Libra is described as a “moving target” that does not easily within existing…
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26th February 2020 0

The buy-side is saving compliance and control professionals from the cold

If you work in compliance or regulation in an investment bank, you probably have very good reason to fear the rise of technology. As so-called ‘Reg-tech’ has taken hold, compliance spending is banks’ new target for cost-cutting. It’s fortunate, then, that compliance jobs are still very plentiful on the buy-side. “The buy-side has exploded in terms of compliance…
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25th February 2020 0

Why 67% of companies fear they can’t sustain privacy compliance

True privacy depends on where and how data travels. Data privacy management and protocol got a facelift with the enactments of the General Data Protection Regulation and the California Consumer Privacy Act. Many companies failed to meet compliance standards in time for GDPR. And for companies that met the deadline, 67% fear they won’t be able to…
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17th February 2020 0

Fenergo raises $80M at an $800M valuation for compliance and other fintech services aimed at banks

Europe has emerged as a key region for hatching and scaling fintech companies. And today, one of the more prominent fintech startups is announcing a large round of funding, from a mix of strategic investors, to keep growing its business. Dublin-based Fenergo builds solutions for banks and other financial management companies to help with regulatory…
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14th February 2020 0

InfoComply Launches Compliance and Data Privacy software Platform2.0 to Address New Regulations Worldwide

Consumer data privacy and corporate compliance management firm InfoComply announced today a new version of the company’s software platform, providing upgraded tools for companies seeking compliance with international security and privacy regulations, including the General Data Protection Regulation (GDPR), California Consumer Privacy Act (CCPA), and Brazil’s New General Data Protection Law (LGPD). ___________________________________________________________ Consumer data…
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10th February 2020 0

Taxman unearths £200m in joint operation

M Revenue & Customs has helped uncover £200m worth of suspected tax evasion and money laundering in the UK. The action — which occurred as part of a series of investigations in Australia, Canada, the Netherlands, the US and the UK — is centred around a Central American financial institution whose products and services are…
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3rd February 2020 0

Mitratech acquires ClusterSeven so it can offer an end-to-end data privacy solution

Legal and compliance software builder has acquired ClusterSeven so it can offer an end-to-end solution suite for easing data privacy and information governance efforts. Mitratech offers a compliance suite which enables GRC professionals to meet obligations of regulations including SOX, MiFID II, GDPR, Volker and more. To ease compliance burdens, the company offers management tools…
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31st January 2020 0

Red Deer and Cappitech combine MiFID II and MAR services for the buy-side

Compliance technology providers Red Deer and Cappitech will offer each other’s services to their respective clients for a more integrated solution. Technology providers Red Deer and Cappitech have teamed up to combine their services to provide investment firms with a holistic regulatory compliance solution. The partnership will see Red Deer and Cappitech offer each other’s…
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22nd January 2020 0