Danske Bank has been fined €1.82 million (US$1.79 million) and reprimanded by the Central Bank of Ireland (CBI) for three transaction monitoring failures in its anti-money laundering and counter financing of terrorism (AML/CFT) systems. The three breaches of Ireland’s criminal… Read More ›
Danske Bank has announced plans to digitise its trade finance processes through a collaboration with Conpend for use of its Trade AI app to automatically check against anti-money laundering (AML), know your customer (KYC) and sanctions regulations. Trade AI employs… Read More ›
Failure to adhere to anti-money laundering (AML) protocols was the most common banking violation that led to substantial fines being imposed on financial institutions last year according to data in Finbold’s Bank Fines Report 2020. The data shows that fines… Read More ›