Better ways to detect and disrupt financial crime
by Ben Poole
New research commissioned by SWIFT Institute analyses the current financial transaction monitoring model and suggests opportunities for the future.
Anti-Money Laundering
Background
The Money Laundering Control Act of 1986 is a United States of America Act of Congress that made money laundering a Federal crime. This legislation combined with other legislation such as the European…
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by Ben Poole
Mastercard is the latest to upgrade its cyber offerings for businesses.
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by Ben Poole
The European Banking Authority has issued guidance on the enforcement of AML rules and launched a consultation on ESG risks.
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Its Cyber Secure solution aims to advance a set of integrated cyber capabilities for banks and their businesses.
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The SWIFT KYC Registry was the focus of a recent webinar that included a corporate treasurer on the panel.
Dutch banks take aim at money launderers
by Ben Poole
Transaction Monitoring Netherlands is a collaborative effort that aims to crack down on money laundering and terrorism financing.
Banks and police team up to fight financial crime in Sweden
by Ben Poole
The SAMLIT effort will be piloted this year, with the goal of launching in 2021.
European Commission ramps up fight against money laundering and terrorist financing
by Ben Poole
Its six pillar Action Plan aims to ensure that EU rules are more harmonised and more effective.
Rise in cybercrime as fraudsters exploit COVID-19
by Ben Poole
Microsoft and Temenos are the latest to try and address the spike in financial crime.
Tackling cyber threats through technology and education
by Ben Poole
IBM and Fernergo partnering on software solutions to financial crime, as Mastercard and Oxford University offer cyber skills programme.
EBA seeking to mitigate financial crime risks during COVID-19
by Ben Poole
The European Banking Authority has outlined AML/CFT efforts that competent authorities should be promoting to financial institutions.
Businesses abandoning banking services over slow due diligence processes
by Ben Poole
Could blockchain offer an answer?
Swedbank money laundering case: Bank accepts Clifford Chance report
by Ben Poole
The law firm was retained in 2019 to investigate the bank's AML work.
European Parliament challenges ECB over green policies
by Ben Poole
It calls for ECB policies to better reflect environmental and climate goals.
Half of all reported crime in UK is cyber crime or fraud
by Ben Poole
PIFMA's Financial Crime Conference found cyber crime and fraud figures are growing exponentially each year.
US Treasury announces 2020 National Illicit Finance Strategy
by Ben Poole
Report identifies key illicit finance concerns for the US and establishes a roadmap to modernise the country's AML/CFT regime.
EBA consults on revised guidelines on money laundering and terrorist financing risk factors
by Ben Poole
The updated guidelines take into account changes to the EU AML and CTF legal framework.
US and UK lead 2019’s US$8.14bn AML fines
by Ben Poole
Research from Encompass shows that annual AML fines nearly doubled compared to the previous year.
Criminal investigations into Deutsche Bank employees in connection with ‘Regula’ closed
by Ben Poole
Deutsche Bank sold Regula in March 2018.
DBS partners with Exiger to tackle evolving risks of financial crime
by Ben Poole
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Standard Chartered and Quantexa to tackle financial crime with contextual decision intelligence
by Ben Poole
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UK businesses report corners cut on supplier vetting and onboarding
by Ben Poole
Companies need to change their approach or face financial penalties and reputational damage.