Day: September 29, 2022

Written by FinCrime

FinCEN Issues Final Rule for Beneficial Ownership Reporting to Support Law Enforcement Efforts, Counter Illicit Finance, and Increase Transparency

Reported by: FinCEN’s Office of Strategic Communications at press@fincen.gov Today, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) took a historic step in support of U.S. government efforts to crack down on illicit finance and enhance transparency by issuing a final rule establishing a beneficial ownership information reporting requirement, pursuant to the bipartisan Corporate Transparency Act […]

Written by FinCrime

Finra Spells Out Penalties for Anti-Money-Laundering Violations

Reported by: David Smagalla The Financial Industry Regulatory Authority, Wall Street’s self-regulator, has for the first time provided guidance to its member broker-dealers on the potential penalties it could impose for violating rules intended to prevent money laundering. The guidelines from Finra, announced Thursday, could signify it plans to step up scrutiny of member firms’ […]

Written by FinCrime

Match-Trade Integrates Sumsub to Automate Brokers’ KYC Process

Reported by: Arnab Shome On Wednesday, Match-Trade Technologies announced its partnership with Sumsub, a verification platform for enhancing and automating the know-your-customer (KYC ) process for forex and CFDs brokers using its custom Client Office CRM. “We develop our solutions with Broker’s daily operations in mind. That’s why we chose to work with Sumsub,” said […]