June 20, 2024
Binance Hit with $2.25 Million Fine by India for AML...

India’s Financial Intelligence Unit (FIU) has imposed a fine of 188.2 million rupees ($2.25 million) on Binance, the world’s largest cryptocurrency exchange, for operating in the country in violation of...

June 19, 2024
Starling Bank Takes Debtors To Court Amid UK Watchdog Probe

Starling Bank is reportedly taking several debtors to court amid a U.K. financial watchdog’s investigation. The neobank has filed petitions against 24 companies that have defaulted on their loans, the...

June 18, 2024
Prometeo Launches Bank Account Validation Offering for US Market

Latin American FinTech Prometeo has launched its Bank Account Validation (BAV) offering for the U.S. market. This offering enables Latin American businesses to connect with all U.S. banks via one...

June 18, 2024
Businesses Confront AI Hallucination and Reliability Issues for LLMs 

In the new world of artificial intelligence (AI)-powered automation, businesses face a vexing problem: AI systems that confidently generate plausible but inaccurate information, a phenomenon known as “hallucinations.” As companies...

June 18, 2024
Swiss Regulator Says HSBC Violated Money Laundering Regulations

Swiss financial market supervisory authority FINMA has ruled that HSBC Private Bank (Suisse) SA violated money laundering regulations. This ruling followed enforcement proceedings opened by FINMA in December 2021 and...

June 17, 2024
Evolve Was Served a Cease-and-Desist Order — Now What?

The Federal Reserve Board issued a “cease and desist” order against Evolve Bancorp and its subsidiary, Evolve Bank & Trust, that may have a chilling effect on bank-FinTech partnerships. In addition...

June 13, 2024
AI Innovations Transform B2B Risk Management, Compliance Into Growth Engines

As the business landscape grows more digitally connected, real-time compliance is growing more important. Citi announced Wednesday (June 12) that Emirates NBD became the first bank to use its 24/7...

June 05, 2024
Analysts Say Fines Could Rise as TD Bank Faces Additional...

Toronto-Dominion Bank (TD Bank) reportedly could be facing fines of up to $4 billion in relation to money-laundering probes in the United States. This estimate by analysts at Jefferies Financial Group is...

June 05, 2024
UK Neobank Starling Will Not Reapply for EU Banking License

United Kingdom neobank Starling reportedly does not plan to reapply for a European Union banking license. Instead, the company will try to expand internationally via its software business, incoming CEO...