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Anti-Money Laundering (AML)

Reuters | Equities.com |

Exchange operator Nasdaq Inc said on Thursday it would buy anti-financial crime software firm Verafin for $2.75 billion in cash, significantly expanding its reach in the regulatory technology market.

Verafin, founded in 2003, provides more than 2,000 financial institutions in North America a cloud-based platform to help detect, investigate, and report money laundering and financial fraud.

Nasdaq will aim to provide Verafin’s technology to the 250 banks, exchanges, broker-dealers and buy-side organizations, and regulatory authorities, that use its trade surveillance systems, the company said.