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.
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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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
The bank plans to use an automated AI-powered solution to enhance customer screening processes.
Standard Chartered and Quantexa to tackle financial crime with contextual decision intelligence
by Ben Poole
The partnership provides the bank with a platform to conduct complex financial thematic investigations.
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.
US regulators release joint statement on activities involving digital assets
by Ben Poole
The statement highlights the AML and non-terrorism financing obligations those involved with digital assets have.
SWIFT Customer Security Programme wins cybersecurity award
by Ben Poole
The CSP was launched a couple of years ago to drive industry-wide collaboration in the battle against the cyber threats.
EU highlights money laundering and terrorist financing risks in the financial sector
by Ben Poole
Findings show that the monitoring of transactions and suspicious transactions reporting still raise concerns.
HSBC deploys advanced financial crime detection systems
by Ben Poole
The system is designed to tackle the money laundering opportunities that criminals see in the complex world of global trade.
Think KYSC - KYC alone is not enough
by Jack Large
Unless you Know Your Supply Chain which involves Know Your Customer + Know Your Vendor you will always be at risk
UK anti-money laundering protection tightens, but more automation needed
by Jack Large
Platforms needed to identify Ultimate Business Owners
220 regulatory alerts every day, yet only 28% outsourcing compliance
by Jack Large
Thomson Reuters “Cost of Compliance 2019: 10 years of regulatory change” report shows scale and dynamics of regulatory compliance
ICAP opens doors to digital asset trading
by Graham Buck
The world’s largest interdealer broker’s launch of its Digital Asset Markets business paves the way for bitcoin trading
Artesian Solutions brings new enterprise-level client onboarding to front line
by Jack Large
New Artesian Risk and Compliance Hub brings risk decisioning & KYC compliance together in a regtech game-changer
Why are KYC platform solutions failing?
by Jack Large
What are the withdrawals of Bloomberg and Refinitiv from the KYC platforms telling us?
AML focus moving to non-financial sector
by Jack Large
encompass analysis shows that in 2019 AML expected to exceed record, will shift to monitoring non-financial sector as well as banks
Fraud: detect anomalies as they happen
by Jack Large
Aite study reviews how to use machine learning platforms and to reduce false positives by 63%, & increase CNP fraud detection by 177%
Know Your Third Party (KY3P®)
by Jack Large
Is IHS Markit’s approach “The future of third-party risk management”?
UK ‘must maintain anti- money laundering drive’
by Graham Buck
Companies must not relax their AML standards post-Brexit to secure trade deals, says the Treasury Committee.
EU ministers meet to bolster anti-money laundering rules
by Bija Knowles
Why a more global approach to money laundering will help to reduce risk within the financial services sector – comment from Trulioo
5 compliance trends to look out for in 2019
by Bija Knowles
Compliance trends and milestones for larger corporates – according to financial crime and fraud solutions company NorthRow
Have a happy Xmas: minimise your Cyberfraud
by Jack Large
Earn your christmas bonus - use this list of lists to eliminate cyberfraud losses