Financial Crime & AML
Supercharge your Client Lifecycle Management with Artificial Intelligence
The financial industry faces a complex web of tightening regulations, while the sophistication of financial crime continues to evolve. Traditional approaches are struggling to keep pace and navigate this labyrinth, with Anti-Money Laundering (AML) regulati
5 things in 2022 that changed how we do KYC in banking
The war in Ukraine, which began in February of 2022, brought economic sanctions into the spotlight and tested reflexes as governments globally scrambled to respond. Sanctions against Russia and its associates came in almost overnight and, from the EU alone
The Death of Traditional KYC
The financial services industry is currently at an inflection point when it comes to Anti-Money Laundering (AML) andKnow Your Customer (KYC)compliance, sandwiched between a past characterized by huge regulatory turmoil and massive headline grabbing fines,
Will AMLA and other Regulatory Laws Work In the Fight against Financial Crime?
Since 2008,over USD $46 billion in penalties have been issued to global financial institutions for non-compliance with Anti-Money Laundering (AML), sanctions, and other financial crime compliance obligations, with $10.4 billion issued in 2020 alone. Howeve
Overcoming Counterparty Onboarding Challenges in Energy & Commodities
Geopolitical events in the last 24 months have led to increased sanctions, increased scrutiny, and increased risk and compliance complexity for energy and commodities firms. Financial crimes, such as corruption and sanctions evasion, have become crucial ri
AML Across Borders: the US and China Join Forces to Stop Financial Crime
On April 6th, 2024, the United States and China agreed to start a forum to cooperate on anti-money laundering (AML) efforts in the two countries’ financial systems. The agreement came after two days of talks in China's southern export hub of Guangzhou, whe
Understanding Risk and Compliance in Banking
Risk and compliance in banking refers to the processes and frameworks banks use to identify, manage, and mitigate financial, operational, and regulatory risks while ensuring adherence to laws, regulations, and internal policies.
Home Sweet Home: Germany Wins the Race to Host AMLA
On February 22, 2024, it wasannouncedby the Council of the European Union (EU) that Frankfurt emerged victorious in its bid to host the Anti-Money Laundering Authority (AMLA) the EU’s new bloc-wide regulatory body.
Why FinCrime Regulation is Imminent for US Investment Advisors
In early February 2024, US Treasury Secretary, Janet Yellen, noted that the US Treasury Department plans to issue a proposed rule applying requirements for anti-money laundering (AML) on investment advisers. These plans were further backed up by anannounce
Designated for Delisting: the UAE’s Impending Exit from FATF’s Grey List
In October 2023, it was reported that the United Arab Emirates (UAE) was set to be removed from the “grey list” maintained by theFinancial Action Task Force(FATF), as the country had “substantially” moved towards implementing compliance reforms.
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