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
Global Crypto AML & Regulatory Fines Surge in 2022
Fenergo's annual report found AML and related regulatory fines for crypto firms increased by 92% in 2022, while global financial institution fines fell.
Fenergo launches Financial Crime Risk SaaS solution to centralise, automate and standardise risk assessment
FinCrime Risk will allow financial institutions to bolt-on risk assessment for clients and counterparties.
Global Financial Institution Penalties decline in H1 2022
Fenergo has released its half year annual findings on global financial institution enforcement actions which shows penalties have fallen by 25%.
Fenergo Launches in Mexico to Meet Growing Demand for RegTech Solutions
Fenergo Launches in Mexico to Meet Growing Demand for RegTech SolutionsBrian GriffinFenergoContinue reading Fenergo Launches in Mexico to Meet Growing Demand for RegTech Solutions at Fenergo.
Global Financial Institution Penalties on the Decline
The total volume of fines levied to financial institutions for compliance breaches was approximately 176 compared to 760 in the same period the year prior.
Global Financial Institution Fines for AML and Data Privacy Fall 47% in H1 2021
Fenergo has released its half year annual findings on global financial institution enforcement actions which shows penalties have fallen by 25%.
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