Last month, the United Kingdom regulator known as the Financial Conduct Authority (“FCA”) fined Commerzbank London £37.8 million for failures in the bank's anti-money laundering (AML) procedures. The Final Notice provided by the FCA outlines the problems with the bank's AML program. Preventing financial crime in banks is of very…
In March, the Swedish Financial Supervisory Authority (FSA) handed out a record fine of 4 billion crowns to Swedbank for anti-money laundering (AML) compliance program failures. It seems that the banking giant will not be the only one suffering for these failures. Earlier this month, Latvia’s Prosecution Office pressed charges…
March 12th, 2020 Update The 2020 FIBA AML Compliance Conference has been rescheduled to the week of September 28th, 2020 due to the evolution of the COVID-19 Coronavirus. Truth Technologies will be at the 2020 FIBA AML Compliance Conference in Miami this month. The biggest event of its kind in…
When in 1995 Truth Technologies was born, it was with a vision of future regulatory needs, based on past events. And those events triggered the ever-greater demand by banks in the US for KYC regulations, as regulators would sanction financial institutions without any possible proof of a violation as know…