Over the course of the last two years, we’ve seen regulators and financial institutions make great strides towards thwarting more global crime through the identification of money laundering. Whether it be through the...
Financial Crime Compliance Resources
Explore a comprehensive collection of insights, articles, and updates dedicated to Financial Crime Compliance. Here, you’ll find the latest trends, expert analysis, and practical resources designed to help you stay ahead of regulatory changes and enhance your organization’s compliance strategies.
February 25, 2021
Organizations today face a number of challenges and risks which has long been accepted as part of their natural course of business. Fraud detection/prevention is one of those challenges as organizations are...
February 25, 2021
Human trafficking is devastating for victims, but typically low-risk for the criminals, whose activities are largely hidden from view. To disrupt human trafficking, law enforcement is partnering with NGOs, financial...
February 25, 2021
Opening corporate accounts at banks is a laborious process which contains multiple friction points. With such a tough KYC challenge on their hands, it is not just the customers that can be disillusioned by a poor...
February 22, 2021
Revelations from the OpenLux investigation underline the need for financial institutions to invest in AML tools and technologies
February 18, 2021
While covered financial institutions are required by FinCEN to know the identity of the individuals who own or control their legal entity customers (also known as beneficial owners), the standard is increased...
February 18, 2021
The large house with high walls topped by razor wire in an upmarket suburb of Dar es Salaam, Tanzania’s commercial capital, had been under surveillance by the police for several weeks due to suspicious vehicles coming...
February 16, 2021
“Something Good This Way Comes”[1]
As the new Congress and the Biden Administration continue to grapple with COVID relief, economic uncertainty, national security and all the proverbial “curveballs” facing society;...
February 16, 2021
The current high unemployment level in the United States, combined with the increase in legitimate remote (work from home) positions, has created a fertile environment in which employment scams are flourishing. Albert...
February 15, 2021
In this edition of our FinCrime Files interview series, we caught up with Chor Teh, Head of Client Lifecycle Management atInvestec.
February 11, 2021
Within financial services, transactional data and supplementary information are vital to the success of financial crime investigations. However, cases that lack typical business activities such as employee payroll or...
February 11, 2021
In previous posts, we’ve examined specific instances of how artificial intelligence (AI) could be used to thwart global financial crime, and how the use of AI-derived insights by financial institutions could...
February 11, 2021
Anyone working in a compliance role in financial services will appreciate the critical part that software plays in effective onboarding, due diligence and anti-money laundering investigations. As banks strive towards...
February 4, 2021
Two key challenges within large banks for transaction monitoring investigations include establishing an economic purpose and verifying complementary lines of business for correspondent banking (CB) customers. Banks...
February 4, 2021
Financial institutions around the world need to heed the warnings highlighted inThe Basel AML Index 2021. The annual global study of 110 jurisdictions, which assesses money laundering risks around the world and ranks...
February 4, 2021
Tom Cardamone, the CEO and President of Global Financial Integrity (GFI), discusses the worldwide challenges of preventing illicit financial flows and how beneficial ownership reporting requirements will greatly assist...
February 2, 2021
When it comes to anti-money laundering (AML), compliance is a cost center for financial institutions and budget pressures are the norm. This begs the question: “How can institutions hold the line on costs while...
February 2, 2021
Strategic partnership to bring a tactical blend of people and technology to accelerate managed services and KYC remediation for financial institutions and other high risk industries, with rapid deployment and minimal...
February 1, 2021
In this edition of our FinCrime Files interview series, we caught up with Nitzan Solomon, VP, EMEA Head of Surveillance and Financial Crime Technology atNomura.
January 29, 2021
In the two decades since the 9/11 tragedy, new technologies have emerged, new laws have been introduced, cryptocurrencies are continuously changing the way money moves around the world, and a global pandemic has...
January 28, 2021
Regtech is one of the most exciting areas to work in technology at the moment. Banks and other regulated organizations are under ever-greater pressure to operate both efficiently and compliantly, and they realize that...
January 27, 2021
January 25, 2021
The fight against money laundering through luxury UK property is intensifying. But real estate players have much more to do in bolstering compliance processes.
January 25, 2021
Correspondent banking investigations are challenging, because Know Your Customer (KYC) information may not be available for all parties involved in the transactions. An experienced analyst can efficiently separate...
January 22, 2021
It’s a well-known fact that the global pandemic caused a radical shift in consumer banking and payments behavior. What isn’t as obvious is how financial institutions responded behind the scenes. Fortunately, a new study...
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