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Arctic Intelligence partners with Deloitte to adopt a smarter approach to financial crime compliance

Arctic Intelligence, a regtech leader in regulatory compliance and risk management has signed a three year partnership with Deloitte to help organisations globally manage their financial crime risk and exposure. This is an extension from a previous agreement first established in 2016. Deloitte will utilise Arctic’s risk and compliance cloud technologies to rapidly assess the…

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Regtech still finding its feet, as banks and regulators do delicate dance

Australia’s financial regulators gathered in the Market Street offices of the Australian Securities and Investments Commission in Sydney last Wednesday for a private briefing with the Boston Consulting Group. The topic; Fast-moving developments in the world of regulatory technology, aka “regtech”. The deployment of artificial intelligence is gathering pace in financial services. It’s being used in pricing,…

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Australian Banks Reassessing Risks amid Unprecedented Enforcement Action: Sources

In the wake of an unprecedented lawsuit against Commonwealth Bank of Australia for alleged compliance violations, other lenders are re-evaluating their own risks and adjusting to a potentially more aggressive regulatory climate, say sources. On August 3, the Australian Transaction Reports and Analysis Centre, or AUSTRAC, accused the country’s largest financial institution of violating anti-money…

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Commonwealth Bank exploring upgrades to transaction monitoring software

Commonwealth Bank of Australia is considering using new software to improve the way it monitors suspicious activity throughout the bank, suggesting the money-laundering scandal could be a tipping point that breaks down CBA’s insular approach to technology development. With AUSTRAC suing CBA for failures in identifying suspect deposits, the bank has been exploring how new regulatory…

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Key FATCA Implementation Challenges

In this podcast, Ross McGill from T-Consult speaks to Anthony Quinn from Arctic Intelligence to explore the issues involved with implementing tax compliance programs, the key challenges of implementing FATCA and the risks of non-compliance.  Click here to listen to the original full podcast.

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Finally, Stone & Chalk has opened its Australian fintech hub

Australian fintech hub Stone & Chalk is finally underway, opening its new Sydney office and revealing the first startups to join the community. After switching locations Stone & Chalk finally settled at the AMP Tower at 50 Bridge Street. It opens with 41 fintech startups, totalling 120 people, following an intense six-month selection process. “From…

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FATCA: The final regulations have landed – let the games begin

In January 2013, the United States Treasury Department released the final regulations relating to the U.S. Foreign Account Tax Compliance Act (FATCA) on the Federal Register.  The final regulations came almost 12 months after the proposed regulations were first issued for consultation.The final regulations cover 544 pages, the majority of which comprises sections 1471 to…

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