Blogs
The Automation of AML & KYC Regulation for Asset Managers
With a recent influx of large-scale Anti-Money laundering (AML) andKnow-Your-Customer (KYC)enforcement actions, those within the Asset Management sector must now find the perfect balance between active regulatory adherence and delivering a positive end-to-
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
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
Es ist Zeit für ein PEP-Gespräch: PEP- und Risikomanagement bei der Bekämpfung der Finanzkriminalität
Die Nichteinhaltung von Compliance Vorschriften ist eine kostspielige Angelegenheit. Im Jahr 2022 erhielten Finanzinstitute (FIs) weltweit4,2 MilliardenDollar an Vollstreckungsmaßnahmen wegen Verstößen gegen die Geldwäschebekämpfung (AML), einschließlich V
MAS Launches COSMIC Platform for KYC Data Sharing
On April 1st, 2024, the Monetary Authority of Singapore (MAS)launchedCOSMIC, a platform to facilitate information sharing between financial institutions (FIs) to combat illicit money flows.
How Fintechs Scale Sustainably with AML
Fenergo hosted an online session around the challenges fintechs face when complying with anti-financial crime obligations whilst scaling as a business.
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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