AML Voices: Human Trafficking: Evolving Topologies - Actionable Data
Our expert panel discusses evolving topologies of human trafficking. They look at the changes to more online based activity, the shift to use of vacation rental services, and the reemergence of cash transactions. They also identify new activities, such as webcamming, which arose early in the pandemic continuing, even as lock downs are easing in some geographies.
2022 Financial Crime Market Outlook | North America
Welcome back to our financial crime market outlook series, where we’re looking at North America and some of the key factors that we should be aware of in this upcoming year. According to a report by Global Market Insights, the anti-money laundering market is set to hit $5bn by 2027 as the influx of cashless transactions and unethical activities receives additional government focus.
AML Voices: What is Going on in Transaction Monitoring Systems?
Our expert panel discusses the purposes of suspicious transaction monitoring, what output is generated by the systems, how they can be improved, and how to reduce the large volume of false positives. They also look at how to use risk analysis to determine which alerts should be the focus of investigations.
Applying AI to Stop Regulatory Compliance Fines
Financial institutions face a double whammy when it comes to anti-money laundering (AML) compliance. On one hand, they must consistently review and detect suspicious activity in an ever-growing stream of transactions. At the same time, compliance teams must meet that standard with whatever resources and support they are offered and avoid compliance fines by meeting regulatory expectations.
Private Jets to Airliners: The Use of Private Aircraft in Narco-Trafficking
The use of private aircraft for narco-trafficking into the United States (US) is not new and has been seen as far back as the 1970s. The heyday of narco-trafficker Amado Carrillo Fuentes, nicknamed ‘Lord of the Skies’[1] for his use of a fleet of jets to transport drugs, may be long gone but the use of private jets continues today and has even expanded into Europe and West Africa. Private aircraft not only provide a means for narco-traffickers to transport drugs but with aircraft being high-value assets, they also provide a means by which to launder the illicit proceeds of drug trafficking itself.
2022 Financial Crime Market Outlook | UK & Europe
As we enter a new year, it seems only fitting to look at what we can expect in 2022 in the financial crime compliance space. We’ve divided our market outlook into a five-part series looking into different geographical regions and considering what’s most prevalent for each. We begin our series with the UK and EU.
Seven Indications That Your AML Compliance Program Will Benefit from Advanced Technology
Watch this video for more information about the QuantaVerse Platform As AI makes it possible for anti-money laundering (AML) processes to become increasingly automated, efficient, and effective, rules-based transaction monitoring systems (TMS) are being supplemented with these solutions to drive down false positives, streamline investigations, and identify risk that is going undetected. This begs the question: what are the indications that your AML compliance program will benefit from advanced technology?
The Art World Gets a Respite for Now, but “You Ain’t Goin Nowhere”
“The U.S. government and private sector must work together to bar criminals from exploiting the $28.3 billion American art market—the largest unregulated market in the world—or risk serious consequences for the country’s national security and economic integrity, as well as legitimate collectors, dealers, auction houses, and museums.”
AML Conversations: Ken Harvey Joins the AMLRS Board
Advisory Board Chair John Byrne sits down with Ken Harvey to discuss his joining the Board. They chat about Ken’s long career in financial service technology, the impact of technology development on customer interactions and financial crime compliance, and the continuing expansion of transaction volumes. They also talk about how regulators are fostering innovation and supporting the deployment of emerging technologies.
