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Anti-Money Laundering

Welcome to the News View for "Anti-Money Laundering".

Here, on these archive pages, you'll find all of the articles on Payments News for Anti-Money Laundering listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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January 27, 2014

Headline News from PaymentsNews.com - January 27, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

September 12, 2011

August 31, 2011

Shadowy Figures: Tracking Illicit Financial Transactions

BakerInstitute logo 140pxA new report entitled "Shadowy Figures: Tracking Illicit Financial Transactions in the Murky World of Digital Currencies, Peer-to-Peer Networks, and Mobile Device Payments" has just been published by the James A Baker III Institute for Public Policy.

The combination of the enormous growth in social networks, the complexity of peer-to-peer systems and software, and the number of Internet and wirelessly connected devices is altering the landscape of financial transactions at a rate and to a degree that is unprecedented.
The report (PDF) -- co-authored by Christopher Bronk, John Villasenor, and Cody Monk -- explores the state of money laundering in the digital age.

January 05, 2011

NICE Actimize Selected by Green Dot to Provide Risk Management and Compliance Solutions

Nice_Actimize_logo_140px.pngNICE Actimize has announced that Green Dot has selected a number of NICE Actimize's risk management solutions, including Card Fraud, AML Suspicious Activity Monitoring, Know Your Customer (KYC) Due Diligence and Enterprise Risk Case Manager.

March 11, 2008

Some Worries About Mobile Payments

In an article titled 'Mobile Payments--A Growing Threat', the Bureau of International Narcotics and Law Enforcement Affairs of the US Department of State discusses mobile payments and worries about them saying that 'there are already indications that money launderers and those that finance terrorism will avail themselves of the new m-payment systems.' The article concludes by saying that 'much work and creative thinking will be required to maintain the advantages NPMs ('new payment methods'), including m-payments offer, while at the same time preventing exploitation and misuse by money launderers and terrorist financiers and simultaneously protecting user privacy and the integrity of the global financial systems.'

July 09, 2007

Anti-Money Laundering Spending Up 71 Percent at North American Banks

A new survey by KPMG International reports that bank executives say spending to combat money-laundering activities rose by 71 percent in North America over the past three years, mainly to pay for IT systems and training staff.

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May 04, 2007

2007 National Money Laundering Strategy Released

The U.S. Departments of Justice, Treasury and Homeland Security have joined together to issue the "2007 National Money Laundering Strategy, a report detailing continued efforts to dismantle money laundering and terrorist financing networks and bring these criminals to justice."

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April 27, 2007

E-Gold Indicted for Money Laundering, Illegal Money Transmitting

The US Department of Justice has announced that a federal grand jury in Washington, D.C. has indicted two companies operating a digital currency business and their owners on charges of money laundering, conspiracy, and operating an unlicensed money transmitting business.

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March 23, 2007

Watching the Anti-Money Laundering Risk in Prepaid Cards

Glenbrook's Bryan Derman files the following report he prepared following his participation last week on a panel titled "Hype or Reality – Anti-Money Laundering Risks from Prepaid Payment Products and What Can Be Done About Them" at the Spring Meeting of the American Bar Association’s Business Law Section in Washington, DC.

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January 24, 2007

Anti-Money Laundering Update From Mercator

Mercator Advisory Group has announced an update on anti-money laundering (AML) activity titled "Moving Toward The 'Total Mix'." According to Mercator, this report examines the growing FI-wide approach to AML as well as trends in compliance enforcement, suspicious activity reporting for 2006 and AML vendor consolidation. The report focuses in particular on the markets for and vendors of AML technologies addressing the small and
mid-market banking segments.

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August 29, 2006

Evaluating Anti-Money Laundering Solution Vendors

Celent has announced it has updated its 2003 report on anti-money laundering solution vendors in a new report titled "Evaluating the Vendors of Anti-Money Laundering Solutions 2006". According to Celent, "the report profiles and evaluates 19 established and emerging vendors of anti-money laundering software, including BI-heavy transaction analysis software and filtering solutions for screening government watchlists such as OFAC."

June 28, 2006

Fortent Combines Searchspace, Semagix

Fortent, a company created specifically to deliver a comprehensive suite of risk and compliance solutions to financial institutions worldwide, was launched today. Fortent combines Searchspace, a leading anti-money laundering solution, and Semagix, a pioneering Know Your Customer and Enhanced Due Diligence product, into a single brand.

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May 02, 2006

So You Want To Start A Payments Company?

A great friend of Glenbrook's is Broox Peterson, formerly Senior Vice President and Assistant General Counsel for Visa for over 20 years. Broox retired from Visa a couple of years ago and since then has been doing free lance legal work with information technology and payments companies.

Broox has written (and recently updated) a great article about some of the implications that entrepreneurs may want to consider regarding the regulatory implications of building a new payments company - something that, in our experience, entrepreneurs may not fully understand or appreciate.

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