Blogs
Canada's Beneficial Ownership Evolution
In recent years, the global spotlight on beneficial ownership transparency has intensified, driven by the need to combat financial crime, tax evasion, and corruption. Canada has been part of this conversation, making strides to enhance transparency in corp
Understanding Ultimate Beneficial Owners (UBO) for Compliance
Unlike abeneficial owner, which may include intermediaries or legal entities with indirect stakes, a UBO is the ultimate individual at the top of the ownership chain—typically holding a significant stake (25% or more) or exercising effective control.
Digital Transformation in Financial Services
Digital transformation in banking and financial services is emerging as a pivotal solution to complex compliance challenges, particularly in meeting Anti-Money Laundering (AML) andKnow Your Customer (KYC)regulations.
Focusing on FinCEN’s New Requirements
The sands of regulatory change are, as ever, shifting – this time towards modernization in the compliance regimes of financial institutions (FIs) in the United States.
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 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
News
Regulatory penalties for global financial institutions surge 31% in H1 2024
Half-year annual findings on global financial institution enforcement actions reveal a 31% surge in the value of fines issued in H1 2024 compared to H1 2023.
Fenergo completes acquisition of regtech Sentinels
Fenergo has announced the acquisition of Sentinels, an anti-money laundering (AML) transaction monitoring new market entrant with artificial intelligence (AI) based technology.
Global financial institution AML and regulatory fines soar in 2023
Fenergo's annual findings on global financial institution enforcement actions reveal that the value of penalties imposed on firms surged 57% in 2023.
Fenergo Study: Emerging Risks in US Fintech Payments Since FedNow's Launch
AML talent shortages, inadequate transaction monitoring & deteriorating CX among fintech concerns with FedNow's rapid evolution.
Regulatory Penalties for Global Financial Institutions Drop by 88% in H1 2023
U.S. financial institutions continue to lead in fines, paying out 83% of the total penalty dollars, despite being cited for only 10% of the world’s regulatory violations.
Fenergo Adds AI-powered Transaction Monitoring to Solution Portfolio
Featuring a powerful hybrid detection engine supported by a robust scenario detection library, Fenergo Transaction Monitoring facilitates real-time identification of suspicious activity.
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