Evalueserve, a global leader in analytics consulting, today announced a partnership with Encompass, a fast-growing provider of intelligently automated Know Your Customer (KYC) solutions.

Compliance outfit SteelEye is offering financial institutions a free 90-day trial of surveiilance tech capable of monitoring staff communications as they shift in and out of the office during the easing of lockdown restrictions.

Banks across the EU are failing to take their compliance duties seriously, says the European Central Bank, which has identified endemic weaknesses in governance, staffing and policy implementation.

Westpac has pledged to consolidate its disparate anti-money laundering systems into a single, group-wide, database, and to double the number of people in its financial crime unit, in response to regulatory accusations that it contravened AML/CTF laws on over 23 million occasions.

AxiomSL, the leading provider of regulatory reporting and risk management solutions, today announced completion of The Service Organization Control (SOC) 2 Type II audit of RegCloud that confirmed the effectiveness of the firm’s internal controls for compliance and data protection.

Accuity, the leading provider of financial crime compliance, payments and Know Your Customer (KYC) solutions, and Chartis Research, the leading provider of research and analysis on risk technology markets, announced results of a study that revealed 66% of financial institutions face the significant challenge of achieving low false positive rates, putting unnecessary burden on their compliance departments and creating inefficiencies in their financial crime screening processes.

The Monetary Authority of Singapore (MAS) today issued a set of legally binding requirements to raise the cyber security standards and strengthen cyber resilience of the financial sector.
The Notice on Cyber Hygiene sets out the measures that financial institutions must take to mitigate the growing risk of cyber threats.