Connecting’s the dots in RegTech | 2023 #13
Weekly news up to Tuesday, 3rd of October, 2023
Welcome to the latest edition of "Connecting the Dots in RegTech," your weekly source for the most significant developments in the world of regulatory technology. 🙌
Let's connect the dots and explore these intriguing stories shaping the world of RegTech and financial regulation. 👈
REPORT
A new Europol report has found that 70% of criminal enterprises are utilizing money laundering techniques to hide wealth and garner assets, outpacing authorities who are struggling to uncover their crimes.
Read the full report here
👀 NEWS HIGHLIGHT
TangoPay an Authorized Payment Institution based in the UK, and ThetaRay, the leader in next-generation AI-powered secure global payments, announced they will collaborate to protect TangoPay’s global payments platform from financial crimes as the UK-based business grows.
😎 SPONSORED CONTENT
📰 ARTICLE
Know their differences to stay ahead in the game of anti-money laundering (#AML) and countering the financing of terrorism (#CFT).
💡INSIGHTS
LexisNexis Risk Solutions released its annual True Cost of Financial Crime Compliance Report. The study examines how financial institutions navigate the expenses and challenges tied to evolving financial crime compliance requirements.
🧐 ANALYSIS
Money laundering is the process of “cleaning” funds coming from illicit activities to make their origin seem legal. From the first records of money laundering back in 2000 BCE to the modern day, these practices and techniques have evolved significantly. Fortunately, so have the methods designed to counteract them.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🔦 REGTECH HIGHLIGHTS
⭐️ Revolut attracts UK watchdog scrutiny over red-flag accounts.
⭐️ Traydstream has completed a $21 million Series B funding round.
MOVERS AND SHAKERS
Onfido announced the appointment of Daniel Keller as Chief Technology Officer.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.