The advent of artificial intelligence (AI) in financial technology has opened new horizons for combating money laundering (AML) and fraud. CSI, a renowned provider of financial software, has introduced TruDetect and TruProtect, solutions designed to enhance AML compliance and fraud detection. These
Bank of America has been ordered to pay the Federal Deposit Insurance Corporation (FDIC) $540.3 million, a decision that arose from a prolonged legal battle centered around allegations of underpaying deposit insurance commitments. This authoritative directive, rendered by U.S. District Judge Loren
Anchorage Digital Bank, a pivotal player in the institutional cryptocurrency market, is currently under federal investigation by the US Department of Homeland Security's El Dorado Task Force. The investigation is expected to address financial misconduct, although the bank has already faced
The Bank of England published an extensive design note on April 10, presenting its initial thoughts on the digital pound's framework. This document emphasizes the potential roles and responsibilities of intermediaries within this new financial ecosystem. While decisions have yet to be
In a modern financial landscape rocked by political and social turmoil, the introduction of the Financial Integrity and Regulation Management (FIRM) Act sparks intense debate. This bipartisan bill, led by Kentucky Congressman Andy Barr and New York Democrat Ritchie Torres, aims to correct an era of
The Cooperative Bank of Kenya has announced a significant move to enhance its data protection and customer service quality by opening job positions for Data Privacy Analysts. As the fourth-largest bank in Kenya by asset base, Co-op Bank is making strides to ensure that data privacy and regulatory
