Today, LexisNexis® Risk Solutions released its True Cost of Financial Crime Compliance Global Report, which provides global industry-driven insights for financial services firms across the Asia Pacific (APAC) region, Europe, the Middle East and Africa (EMEA), Latin America (LATAM) (including Mexico) and the U.S. and Canada. The report reveals that the projected total cost of financial crime compliance in these markets amounts to $180.9 billion.

IDnow, a leading provider of Identity Verification-as-a-Service solutions with more than 250 customers, publishes statistics on the changed customer habits since Europe has experienced restrictions on everyday life due to the coronavirus (COVID-19).

As part of the Corona Pandemic, many service providers have experienced significant changes in customer demand and behaviour. As a provider of an Identity Verification-as-a-Service platform, IDnow has too seen these changes.

OpenWay, a global vendor of digital payment software, partnered with technology analyst house Ovum (now Omdia) to conduct the 2020 Digital Payments in Africa survey. Key retail banks and merchants in East, West and Southern Africa took part to provide a glimpse into the retail payment landscape of Sub-Saharan African region. 

GMO GlobalSign www.globalsign.com, a global Certificate Authority (CA) and leading provider of identity and security solutions for the Internet of Things (IoT), today announced steps to help companies conduct business securely while working remotely during the Coronavirus pandemic.

 The Emerging Payments Association (EPA), which celebrates collaboration and innovation within new and existing payments companies, has today published new guidance on digital identification and authentication to help combat financial crime.

A surge in complaints was one of the main contributing factors to the high-profile collapse of Wonga. Add to this the recent announcement that UK lender Amigo is now for sale in light of a rise in customer complaints, as well as increasing regulatory pressures, and it’s safe to say that subprime lenders are up against it. Nowhere is this more the case than when it comes to the issue of customer vulnerability.

Increased regulation

 Kompli-Global, the leading RegTech AML specialist, is taking the fight to fraudsters and money launderers, as it today unveils Kompli-QED, the most comprehensive remote corporate onboarding platform.

Jaya Baloo has been Chief Information Security Officer at information security company Avast since October 2019. Previously, Ms. Baloo held the position of CISO at KPN, the largest telecommunications carrier in the Netherlands, where she established and led its security team for 7 years. The team’s best practices in information security strategy and policy are today recognized as world leading. Prior to this, Ms. Baloo held the position of Practice Lead Lawful Interception at Verizon and worked at France Telecom as a Technical Security Specialist.

After a slow climb in January, the covid-19 pandemic flushed all profits down the drain in a matter of weeks. This was mostly personified by Tesla’s Q1 rollercoaster, going from a short squeeze which sparked a 50% increase in the stock price to being hit by the covid-19 lockdown, which made it drop back to where the year started.

Following a fantastic year in 2019, the market took a tumble in the first months of 2020. This resulted in a 24% drop on the S&P 500.

The global payment industry has gone through a massive change over the past decade, with more and more people utilizing the benefits of innovative financial technologies. The global shift towards a cashless society produced a massive space for mobile wallets as a new, safer, and more convenient way of making payments. With the coronavirus outbreak, electronic payments became even more appealing as people started questioning the safety of using banknotes for fear of transmitting the virus.