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Building the bulwark: preparing your firm for data protection regulations
Archive
09 May
2017

Building the bulwark: preparing your firm for data protection regulations

What image is conjured up when you hear the term “cybercriminal”?  A Guy Fawkes mask partially concealed underneath a black hoodie to the accompaniment of sinister music? Whilst this image provides an excellent trope for Saturday night TV, it does not reflect the reality of cybercrime. At our second RegTech Capital Markets Conference, we held Read More

03 Sep
2015

The AML umbrella continues to open

  • 3rd September 2015
  • David Miller

JWG analysis. Last week we wrote about thwarting financial crime through suspicious transaction reports (STRs) in the UK, and the Financial Conduct Authority’s (FCA) concern over the integrity, accuracy and coverage of STRs.  On the other side of the Atlantic, FinCEN is proposing to extend their anti-money laundering (AML) regime to investment advisers.   Closing Read More

10 Jan
2014

Make not break: 2014 looks set to legitimise Bitcoin as an investment

2013 was a huge year in the development of alternate and decentralised ‘crypto-currencies’.  Some countries have so far taken relaxed stances on them, despite obvious money-laundering and tax evasion risks.  Meanwhile, others have taken the opposite approach and seen fit to ban crypto-currencies outright.  Either way, we are now beginning to see a clearer picture Read More

26 Sep
2013

The cost of doing nothing: TD Bank’s AML fine highlights operational risk hazards for smaller firms

  • 26th September 2013
  • RegTechFS

On 24 September, TD Bank was fined nearly $90 million from US federal authorities for failing to accurately detect and report suspicious banking activity arising from one of its clients, Scott Rothstein, who was charged with racketeering and having operated a large Ponzi scheme to the tune of $900 million. Suspicious activity was detected by Read More

01 Jul
2013

Bitcoin: A new regulatory frontier

It is known that regulators are continually playing catch-up with technological innovation in financial services, whether it’s HFT trading, being addressed in MiFID II, or internet banking in the new Bank Account Directive. Bitcoin, however, is an entirely new kettle of fish. For a start it’s a currency that comes bundled with its own payment Read More