Tag: $1.8b
Quantexa raises $129M at a $1.8B valuation to help navigate online fraud and customer data management
Financial fraud and other online crime continue to present major threats to businesses, and they remain a key focus for regulators requiring more rigorous efforts to keep illicit activity at bay. Now, London-based Quantexa — one of the big startups providing AI and other tools to major banks and others in financial services, governments and […]
Quantexa raises $129M at a $1.8B valuation to help navigate online fraud and customer data management by Ingrid Lunden originally published on TechCrunch
16 Wall Street firms fined $1.8B for using private text apps, lying about it
The US Securities and Exchange Commission (SEC) has fined big-name banks and brokerages a collective $1.8 billion over workers’ use of private texting apps to discuss work and for not always saving those messages. The fines include $1.1 billion assessed by the SEC and a $710 million fine from the Commodity Futures Trading Commission (CFTC).
The SEC investigation uncovered what the agency called “pervasive off-channel communications,” that were collected by the firms themselves from employee devices. The employees included senior and junior investment bankers and debt and equity traders.