Latest

Cable and new UK bank Griffin partner to integrate robust automated financial crime assurance into Griffin’s BaaS platform

We’re thrilled to announce our partnership with Griffin, which will strengthen its existing fincrime control framework by integrating with Cable’s powerful technology, allowing it to better assess the risk profile of new customers and onboard them more efficiently. UK-based bank Griffin is building a full-stack, API-first Banking-as-a-Service platform

Fincrime Fighters Expert Interviews: Seth Sattler

In this series, we interview compliance officers and other financial crime experts to find out the latest career tips, industry insights, and interesting trends you need to know. Sign up for our newsletter so you don’t miss out on upcoming interviews! In this installment of our Fincrime Fighters Expert

Crypto payments firm Ramp partners with Cable for financial crime compliance

We’re excited to announce Ramp has selected Cable’s complete financial crime compliance effectiveness testing platform to enhance its market-leading compliance program. Ramp is the leading builder of crypto payments infrastructure making Web3 easy and accessible and enabling its partners to accelerate mainstream adoption of their services. The company

Bank-Fintech Relationships: Key Regulatory Developments

Bank-fintech relationships and the Banking-as-a-Service (BaaS) landscape have become major regulatory focuses in the last two years and it's essential to follow the latest compliance developments. We’re tracking and updating this page for key regulatory guidance, events, and discussions on bank-fintech oversight expectations. Subscribe to our newsletter and follow

Axiom Bank, N.A. Chooses Cable to Boost Fintech Partnerships

We’re excited to announce Axiom Bank, N.A. has tapped Cable’s platform to automate financial crime compliance effectiveness for the bank’s growing fintech program. Florida-based Axiom Bank provides industry-leading BaaS and payment capabilities to partner programs seeking to deploy a wide range of financial products in a

Fincrime Fighters Expert Interviews: Simon Horswell

In this series, we interview compliance officers and other financial crime experts to find out the latest career tips, industry insights, and interesting trends you need to know. Sign up for our newsletter so you don’t miss out on upcoming interviews! In this installment of our Fincrime Fighters Expert

Yonder Teams with Cable to Automate Financial Crime Assurance and Oversight

We’re excited to announce our partnership with Yonder, a London-based startup offering a modern lifestyle rewards credit card, to enhance its financial crime compliance and oversight processes. “We’re thrilled to partner with Cable to build out our financial crime compliance program,” said Theso Jivajirajah, Co-Founder and Chief Risk

Case Study: Tide saves 6 FTEs in 2nd Line team with Cable as growth soars

Tide is a business financial platform and a leading provider of UK digital business banking services. After launching in 2017, Tide has grown rapidly, becoming the 7th largest provider of banking services to UK small and medium enterprises by 2021. This growth continued into 2022 – with Tide increasing the member

Financial Crime Predictions for 2023

What will the financial crime landscape look like in 2023? We spoke with industry experts at Alloy, Alloy Labs, Fintech Business Weekly, Griffin, and Treasury Prime to learn what next year holds in store. With the rapid pace of regulatory change, compliance teams need to be ready for what is

A Free End-of-Year KRI Template for Financial Crime Compliance

Key Risk Indicators (KRIs) are used to detect, measure, and report financial crime risk exposures. There is no one-size-fits-all approach to selecting KRIs – each institution’s risks are unique. But KRIs need to be periodically evaluated and updated for emerging risks or shifting risk appetites. Monitoring and reporting KRIs is

OCC Penalties Will Focus More on Identifying and Fixing Issues

The OCC recently released revisions to its Civil Money Penalties (CMP) manual, effective January 1, 2023. The CMP manual guides how the regulator considers aggravating and mitigating factors when assessing potential fines. The key takeaways from these changes are that the OCC will: 1. Place significantly more weight on 2

Fincrime Fighters Expert Interviews: Sheetal Parikh

In this series, we interview compliance officers and other financial crime experts to find out the latest career tips, industry insights, and interesting trends you need to know. Sign up for our newsletter so you don’t miss out on upcoming interviews! In this installment of our Fincrime Fighters Expert

Quaint Oak Bank Partners with Cable for Fintech Sponsorship Program

We’re thrilled to announce our partnership with Quaint Oak Bank [https://www.quaintoak.com/] to enhance the bank’s management of its fintech partner program. Quaint Oak Bank, a Pennsylvania-based community bank, will leverage Cable’s complete effectiveness testing platform for comprehensive financial crime compliance oversight across its fintech

Cable Product Announcement: Financial Crime Risk Assessment

We’re excited to announce the launch of Cable’s Financial Crime Risk Assessment – the first automatically updating risk assessment solution empowering compliance leaders to grow and protect their businesses. Financial crime risk assessments are critical to regulatory compliance and business growth decisions. But the vast majority of firms still

Russia Sanctions Developments and Practical Compliance Steps

As Russian aggression in Ukraine escalates further, the unprecedented sanctions on Russia by the US, UK, EU, and other jurisdictions continue to increase. Recent Russia-related sanctions have received regulators’ full focus and resources. The UK’s Office of Financial Sanctions Implementation (OFSI) is more than doubling its staff given the

What Is Automated Assurance?

For compliance leaders, managing financial crime challenges begins with implementing internal controls. But just having internal controls isn’t enough – they need to function properly. For example, recent enforcement actions cited firms’ controls that were set up improperly [https://home.treasury.gov/system/files/126/20220930_tango_card.pdf] or

Key Implications of New US Beneficial Ownership Reporting Rule

The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) recently published its long-awaited final rule [https://www.govinfo.gov/content/pkg/FR-2022-09-30/pdf/2022-21020.pdf] setting out new landmark US beneficial ownership information (BOI) reporting requirements. Once the new rule becomes effective, over 30 million legal entities created or

What Is A Financial Crime Risk Assessment?

Financial crime risk assessments are one of the most difficult parts of the financial crime framework to get right, but they are essential to analyze a business's risk of financial crime exposure.

New Clarity on OCC Expectations for Bank-Fintech Relationships

Recently, we wrote [https://community.cable.tech/baas-providers-fintechs-facing-stricter-partner-bank-scrutiny/] about rumors swirling of regulatory crackdowns on bank-fintech partnerships and how to stay ahead of regulatory scrutiny. Those rumors have now become concrete. Blue Ridge Bank, a US partner bank, disclosed an agreement [https://www.sec.gov/Archives/edgar/data/842717/000119312522236606/

Back to Basics for Responding to Tornado Cash Sanctions for Compliance Officers

The cryptocurrency mixer and decentralized application (DApp), Tornado Cash [https://home.treasury.gov/news/press-releases/jy0916], made headlines this month after being sanctioned by the US Office of Foreign Assets Control (OFAC). This move has riled up crypto industry members, as well as free speech and privacy advocates. Given these

4 Key Areas for Compliance Officers to Address in Wake of Robinhood Crypto AML Fine

The New York Department of Financial Services (DFS) has entered the crypto AML enforcement fray, issuing a $30 million fine [https://www.dfs.ny.gov/reports_and_publications/press_releases/pr202208021] to Robinhood Crypto, LLC, the crypto trading unit of the larger parent firm, for AML program deficiencies and failure

Cable Selected to Showcase Automated Assurance Tool at FinovateFall 2022

We’re excited to announce that Cable [https://cable.tech/], the leader in automated financial crime assurance, has been selected to demonstrate its Automated Assurance tool at the FinovateFall 2022 conference, taking place from September 12-14 in New York. Finovate conferences showcase the biggest, most innovative new ideas in banking

How Partner Banks Can Manage Increased Regulatory Scrutiny on BaaS & Fintech Relationships

Two partner banks with rapidly growing BaaS businesses are facing serious regulatory concerns following supervisory examinations, according to new reporting [https://fintechbusinessweekly.substack.com/p/as-regulatory-scrutiny-of-baas-grows] from industry sources. Other partner banks are reportedly slowing or stopping onboarding of new BaaS and fintech clients, or even ending existing relationships. > All

Fincrime Fighters Expert Interviews: Rebecca Marriott

In this series, we interview compliance officers and other financial crime experts to find out the latest career tips, industry insights, and interesting trends you need to know. Sign up for our newsletter so you don’t miss out on upcoming interviews! In this installment of our Fincrime Fighters Expert

Financial Crime Increases During Economic Downturns

Financial crime increases during and after a major economic downturn. Past financial crises show this to be true. Law enforcement authorities, regulators, international organizations, and industry experts all agree on this fact. Yet, amidst pressing business challenges, financial crime compliance can fall out of focus. Given our current bleak economic

Product Update: Quality Assurance Trails

What comes to mind when you think of your financial crime Quality Assurance processes? If you’re like most compliance officers, you’d probably say…time-consuming? 🕚 Manual? ✍ Excel spreadsheets and formulas? 📊 Frustrating? 🤦 A mix of all of these things? What difference would a more streamlined, automated QA process make in

How to Investigate Crypto-related Financial Crime Risks

When cryptocurrency first started to gain popularity, financial institutions struggled to search for cryptocurrency exposure in accounts. Compliance officers often were stuck manually keyword searching for known cryptocurrency exchanges in hopes of finding potential exposure. As cryptocurrency increases in popularity, compliance officers need better ways of understanding their exposure to

Fincrime Fighters Expert Interviews: Charlotte Lowry

In this installment of our Fincrime Fighters Expert Interviews, we had the privilege of speaking with Charlotte Lowry, MLRO and Compliance Director at Pleo.

Fincrime Fighters Expert Interviews: Fabrício Lima

In this series, we interview compliance officers and other financial crime experts to find out the latest career tips, industry insights, and interesting trends you need to know. Sign up for our newsletter so you don’t miss out on upcoming interviews! In this installment of our Fincrime Fighters Expert

Fincrime Fighters Expert Interviews: Victor Widjaja

In this series, we interview compliance officers and other financial crime experts to find out the latest career tips, industry insights, and interesting trends you need to know. Sign up for our newsletter so you don’t miss out on upcoming interviews! In this instalment of our Fincrime Fighters Expert

Financial Crime Compliance Primer: U.S. Crypto

As use of virtual currencies has exploded, the perception of the crypto industry as posing increased financial crime risks remains. If you work in a crypto business, you need to become familiar with the financial crime obligations that are relevant to you.

What the OCC’s restructuring and bank-fintech partnership focus means for compliance officers

As compliance officers well know, fintechs and banks already take on a host of legal, regulatory, and business challenges when entering into arrangements with each other. But recent restructuring decisions [https://www.americanbanker.com/news/behind-the-occs-decision-to-create-fintech-supervision-specialists] at the U.S. Office of the Comptroller of the Currency (OCC) are a

How to address the J5’s first NFT financial crime red flags

Last week, the Joint Chiefs of Global Tax Enforcement (J5), issued a first-of-its-kind “intelligence bulletin [https://www.irs.gov/pub/irs-utl/j5-media-release-4-28-2022.pdf]” on Non-fungible Tokens (NFTs) marketplace red flags for financial institutions, law enforcement, and private citizens. Compliance officers should review these red flags as the J5’s bulletin

Anchorage OCC Consent Order: Expectations for crypto compliance and remediation requirements

Last week, the U.S. Office of the Comptroller of the Currency (OCC) issued a first-of-its-kind Consent Order [https://www.occ.gov/news-issuances/news-releases/2022/nr-occ-2022-41.html] to Anchorage Digital Bank. The order offers compliance officers unique insights about compliance expectations vis-à-vis digital assets and remediation activities. Anchorage was the

What we can learn from the FCA’s warning to challenger banks

Last week, the FCA levied [https://www.fca.org.uk/publications/multi-firm-reviews/financial-crime-controls-at-challenger-banks] criticism at UK challenger banks about the general state of their financial crime controls. But while the FCA directed its warnings at challenger banks and their customer growth trends, in many ways, what the FCA has said

U.S. and UK Regulators Release Financial Crime Strategy Updates

U.S. and UK financial crime regulators recently released multi-year strategies with a number of commitments to fight money laundering, sanctions evasion, fraud, and other illicit financial activity. It’s safe to say that the regulatory resources and attention devoted to financial crime compliance and enforcement will only increase in

Everything You Need to Know About Effectiveness

After hearing feedback about how useful our 3-part series on the effectiveness of financial crime controls has been, we're excited to release a new, consolidated package of all 3 whitepapers. It's not enough to recognize that effectiveness is becoming a priority for regulators, industry members and international standard-setters – you also

Product Update: Managing Repeat Issues

One of the most frustrating parts of dealing with a financial crime issue is the lack of context...until now!

Why Financial Crime is a CEO Issue

CEOs at banks and fintechs often equate financial crime with fraud. Fraud hits the bottom line and can kill a business in its infancy, so it’s no surprise that it’s top of mind. Other elements of financial crime - trying to stop money laundering and terrorist financing, and

Product Update: Dashboard

> “A dashboard is a visual display of the most important information needed to achieve one or more objectives; consolidated and arranged on a single screen, so the information can be monitored at a glance.” — Stephen Few, Data Visualization Expert Why are Dashboards Important? Dashboards help people quickly understand large amounts

5 Practical Questions to Ask for Assurance of Your Sanctions Controls

With the latest moves to ratchet up sanctions on Russia in recent days, the sanctions landscape once again grows more complex. We’ve seen in the last few weeks a dizzying array of different types of sanctions that continue to change as the conflict in Ukraine progresses. For the moment,

The Need for Automated Assurance Exemplified by N26’s AML Issues

Every compliance officer knows just how burdensome a remediation project or a lookback exercise to fix a financial crime controls issue can be. These efforts are time-consuming, expensive, and take attention away from other priorities. But the unfortunate reality is most institutions don’t know how well their financial crime

The Fincrime Tech Stack

As a fast-growing fintech, it can be difficult to manage increasing financial crime compliance burdens and risk exposure without hindering growth. Hiring more and more people is not a sustainable solution. Luckily, there are a growing number of tech-enabled vendors that can help you manage financial crime without slowing your

How to Measure Effectiveness

Over the last few months, we've shared with you the first two parts in our series on the effectiveness of financial crime controls: The Heavy Cost of IneffectivenessRegulators, international standard setters and private sector groups have all started to talk about prioritising financial crime effectiveness over technical compliance. There is

Product Update: A better kind of Paper Trail

Compliance Officers do their job on “paper”. Whilst today this “paper” might be word, excel or email, it’s still far from the perfect tool for the job. Today I am going to tell you about one of Cable’s key product features; the Paper Trail. Hopefully you’ll agree

Secret Crime Fighters, Episode 23

Building a Diverse Cap Table

Today we celebrate International Women’s Day. It’s a day to reflect on how far we have come as a society with more and more opportunities open for women, but also to understand that there is still much to do. A blog for another time, perhaps. As I reflect

Secret Crime Fighters, Episode 22

Product Update: Giving you Assurance

Summarising: easier said than done Any good blog post starts with a summary. A neat couple of sentences which pull together the subject topic, opinions, observations and observed data to efficiently represent the rest of the content. However summarising is hard, and there’s a lot of work behind the

What Regulators and International Bodies are Saying about Effectiveness

Last month we shared with you the first in our series on the effectiveness of financial crime controls - The Heavy Cost of Ineffectiveness [https://community.cable.tech/the-heavy-cost-of-ineffectiveness/]. Now we are diving into what the regulators and international bodies are saying about the topic. In this whitepaper you'll read

We've raised $5.3m from CRV, LocalGlobe, and a diverse group of exceptional angels

I am delighted to let you know that Cable has raised $5.3m in seed funding, to help us towards our mission of reducing financial crime in the world. The round was led by CRV and LocalGlobe, with participation from Anthemis, and a number of highly respected angel investors and

A Free MLRO Report Template

We have heard time and again how long it takes you to write your annual, or sometimes bi-annual, Money Laundering Reporting Officer (MLRO) Reports. Some of you have said it takes a full 2 months for your team to gather the data, pull together the required sections, and draft the

An Update to our Operating System

Joining Cable for the Operating System Last year, like most of us, I was getting quite a few LinkedIn messages from companies about new role opportunities. To all of them, I politely responded that I was happy in my current role. And I was. Then in October, I received a

The Cable Operating System

The concept behind company values is great, but so often they are hard to implement. How many employees can recite their company values? How do you make sure they are actually used to make decisions? And how do you align or combine the values and the culture you are trying

The Heavy Cost of Ineffectiveness

Regulators, international standard setters and private sector groups have all started to talk about prioritising financial crime effectiveness over technical compliance. There is growing momentum as more people come to the realisation that financial institutions must be able to prove that what they’re doing is not just legally compliant,

How Effective are your Financial Crime Controls?

Our guess is that you don't know. The Manual Testing Merry-Go-Round To understand the effectiveness of your financial crime controls today, you likely manually test a tiny sample of accounts in the hope - or not - of finding that breach of regulation or failure of controls. Finding an issue

Secret Crime Fighter Typologies

Find all of our Secret Crime Fighter typologies here.

Become a Secret Crime Fighter

Secret Crime Fighters is our newsletter, sent to financial crime professionals, diving deep into specific typologies. You'll also receive updates about our product and deep dives into the world of fighting financial crime. 🕵️‍♀️Typology: A set of customer and transactional red flags, in a specific order, that creates a criminal

Secret Crime Fighters, Episode 21

Secret Crime Fighters, Episode 20

Secret Crime Fighters, Episode 19

Secret Crime Fighters, Episode 18

Secret Crime Fighters, Episode 17

Secret Crime Fighters, Episode 16

Building and Scaling a Financial Crime Team

For almost every financial institution, the first step in fighting financial crime is to hire some experts and build an anti-financial crime program. Given the fundamental importance of getting this right, there is remarkably little guidance and advice on how to build and scale a financial crime team in an

Secret Crime Fighters, Episode 15

Secret Crime Fighters, Episode 14

Secret Crime Fighters, Episode 13

Secret Crime Fighters, Episode 12

Turning Values into an Operating System

The concept behind company values is great, but so often they are hard to implement. How many employees can recite their company values? How do you make sure they are actually used to make decisions? And how do you align or combine the values and the culture you are trying

Secret Crime Fighters, Episode 11

Secret Crime Fighters, Episode 10

Secret Crime Fighters, Episode 9

Secret Crime Fighters, Episode 8

Secret Crime Fighters, Episode 7

Secret Crime Fighters, Episode 6

Secret Crime Fighters, Episode 5

Secret Crime Fighters, Episode 4

Secret Crime Fighters, Episode 3

Secret Crime Fighters, Episode 2

Secret Crime Fighters, Episode 1