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NEWS: Capgemini completes its acquistion of FCC division of Exiger

Premium October 25, 2023

ACQUISITION: “In an industry where compliance processes are still very manual, the end-client experience is an ongoing struggle. The cost of compliance continues to increase to keep up with evolving regulations. Yet the financial system stops only a fraction of illicit financial flows. The financial services industry is therefore poised to adopt expert-driven data and technology powered solutions to enable end-to-end FCC transformation,” said Samar Pratt, President of the FCC Division of Exiger.

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INSIGHT: How FINRA is approaching regulation under the Trump adminstration

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NEWS: Capgemini buys Delta Capita to boost anti-fincrime services

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NEWS: Lloyd’s insurance broker charged by UK’s SFO over Ecuador bribes

By ALISHA HOULIHAN for AML Intelligence CAPGEMINI has formally completed its acquisition of the Financial Crime Compliance (FCC) division of Exiger. The French company – a sponsor of the Rugby World Cup – said the acquisition will strengthen its offerings in financial crime, risk management and regulatory compliance services. Founded in 2013, the FCC division…

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INSIGHT: How FINRA is approaching regulation under the Trump adminstration

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NEWS: Capgemini buys Delta Capita to boost anti-fincrime services

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NEWS: Lloyd’s insurance broker charged by UK’s SFO over Ecuador bribes

Regulatory Watch News

  • Man convicted of trying to smuggle £1m in suitcases out of UK

    National Crime Agency

    A man who was stopped at Heathrow Airport with £1m in two suitcases has admitted money laundering following a National Crime Agency investigation. Mazen Al Shaar, 48, was stopped by Border Force officers on Saturday 15 March this year as he was about to fly from Terminal Three to Beirut.

  • Treasury Targets International Bank of Yemen for Support to the Houthis

    OFAC

    WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning Yemen-based International Bank of Yemen Y.S.C. (IBY) for its financial support to Ansarallah, commonly known as the Houthis, which is part of the Iran threat network.  As part of this designation, OFAC is also sanctioning key leaders or officials of IBY, Kamal Hussain Al Jebry, Ahmed Thabit Noman Al-Absi, and Abdulkader Ali Bazara.  The designation of IBY complements the whole-of-government effort to stop Iran-backed Houthi attacks against commercial shipping in the Red Sea.

  • UK insurer charged with bribery in Ecuador

    Serious Fraud Office

    The Serious Fraud Office (SFO) today accused a UK insurance company of failing to prevent international bribery. Representatives of United Insurance Brokers Limited (UIBL) were ordered to appear before Westminster Magistrates’ Court next month. The company is charged with failing to prevent associates from bribing state officials in Ecuador between October 2013 and March 2016. The SFO alleges UIBL’s US-based intermediaries for Ecuador paid bribes in return for the awarding of re-insurance contracts worth US$38 million. If this case proceeds to a contested trial, it will be the first time that an SFO “failure to prevent bribery” case is heard by a jury.

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