Financial Crime & AML
What are the Differences Between UK and EU Regulations
The European Union has introduced several pieces of AML legislation that are then implemented by member states as part of their domestic regulation. The UK chose to opt out of the sixth anti-money laundering directive (6AMLD) and has implemented its own AM
Fenergo Stands with the People of Ukraine
As the conflict in Ukraine continues to have a devastating impact on the lives of millions of people, we want to stress that as a business we stand in unity and are committed to supporting the people of Ukraine. Whilst we don’t have offices or operations t
AML Policy Checklist - 10 Actionable Steps for Compliance Officers
New regulations are being made seemingly every year and with ever-growing compliance demands. It’s more important today than ever before to have strong and effective AML policy procedures in place. Not just to combat financial crime but to avoid fines for
Fenergo's 5 Predictions for 2022
The last year has seen tremendous change to the financial industry, first with the continued impact of COVID-19 on financial markets to the wider implications of the recent leak of the Pandora papers alike. As the year ends, some of our key stakeholders i
The Pandora Papers Reveal a Broken System
The FinCEN Files revealed money laundering to be a systemic problem, but the Pandora Papers and therecent resignationby the Financial Action Taskforce (FATF) chief, David Lewis, suggest a much more broken system, where regulators are barely tipping the ice
The 5 Most Pressing AML Challenges
One of the biggest problems with fighting financial crime is that the introduction of new regulations has done little to address the issue. Financial institutions devote significant resources to managing compliance risk and adhering to guidelines instead o
What is AML Transaction Monitoring?
AML transaction monitoring is a process that helps prevent money laundering, fraud, terrorist financing, and other types of financial crime. Although each transaction monitoring solution will operate slightly differently, essentially they monitor customer
The Growing Need for AML Compliance
Financial regulators around the world are cracking down on banks. With Anti-Money Laundering (AML) andKnow-Your-Customer (KYC)procedures being put under the microscope, huge fines are being levied against institutions which are found to be in breach. In fa
Best Practices For Client & Counterparty Data Management
The role of client and counterparty risk management has assumed greater strategic importance over the last few years in light of heightened regulatory scrutiny and the introduction of new rules around AML/KYC, ultimate beneficial ownership, global data pri
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