Financial Crime & AML
AML in the EU: Progress on Regulatory Harmonization
UPDATE: On the 24th April, 2024, the European Parliament agreed toadoptthis package of AML laws. These laws will come under the supervision of theAnti-Money Laundering Authority(AMLA), the EU’s new AML body, whose ratification was also part of this package
Update to Money Laundering Regulations in the UK
On January 10, 2024, theMoney Laundering and Terrorist Financing(Amendment) Regulations 2023, take effect. The updated regulations mark a slight shift in the regulatory landscape in the United Kingdom. These regulations introduce modifications to the Money
Regulatorische Änderungen und Trends im Jahr 2024 für AML, KYC und digitale Vermögenswerte navigieren
In einem Webinar von Fenergo mit dem Titel „Leitfaden zu den globalen regulatorischen Änderungen 2024“ haben wir uns eingehend mit den regulatorischen Trends für das Jahr 2024 und den bevorstehenden Änderungen in den BereichenGeldwäschebekämpfung (AML)undK
Coming Down on Crypto: US Regulatory Priorities in 2023 & Beyond
United States financial regulators have, in recent years, cemented their standing as the most active out of all jurisdictions globally. In 2022 alone, the US issued$3 billionin enforcement fines to financial institutions (FIs), almost three quarters of the
Mastering Client Onboarding in Financial Services
The evolution ofclient onboardingin financial services from a routine administrative task to a strategic linchpin marks a significant shift in the industry's approach to customer relations. This process, far more than just an initial step, serves as a cruc
New Blueprint for Banks to Manage Increased KYC Costs After South Africa Grey-listing
Months on from South Africa’s well-publicised grey-listing, banks in the country are working to not only comply with added responsibilities around Know Your Customer (KYC) processes, but they need to keep close tabs on rising costs. Alongside our partner,
How the US Regulatory Environment is Changing Beneficial Ownership
Money laundering and terrorist financing are increasing in sophistication across the world, especially as beneficial ownership has become more difficult to determine at speed. In the US legislators moved to make reforms and compel financial institutions (F
Explaining the EU’s Proposed Regulatory Update for Ultimate Beneficial Owners and the Anti-Money Laundering Authority
The European Union (EU) recently decided to bolster efforts to combat money laundering and the financing of terrorism. The supranational body is looking to deploy a regulatory update to combat financial crime activity which focuses on how to properly monit
Singapore’s Money Laundering Syndicate Scandal
Scandals and crisis are two great indicators of regulatory change. The global financial crisis in 2007 resulted in the biggest shakeup of the financial industry in living memory, possibly ever, and sparked the fintech revolution across the world.
Timeline to New Zealand's AML Amendments
In June 2023, New Zealand’s Ministry of Justice updated its webpage with important changes to the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act). These changes, known as the Amendment Regulations, have been long-awaited
Financial Crime is a Trillion Dollar Problem: Sibos in Review
As Sibos 2023 wound down to a close in a blissfully sunny Toronto on the cusp of fall, we listened into the Big Issue Debate with Victor Dodig of CIBC and leaders from Santander, State Bank of India, DBS, CLS and EY, discussing how banks and financial inst
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