For many early-stage, fast-growing fintechs, implementing anti-money laundering compliance tools and processes can be a challenge. This guide is designed to provide startups with practical tips to enable them to build a compliance function that can scale with their businesses.
A raft of new measures to tackle dirty money and improve transparency related to company and property ownership are being expedited by the UK government following Russia’s invasion of Ukraine. The Economic Crime (Transparency and Enforcement) Bill — a key […]
The Australian Transaction Reports and Analysis Center (AUSTRAC) has issued new guidance aimed at helping firms identify and verify sources of funds and wealth, as part of their know your customer (KYC) processes. The draft guidance follows the regulator’s recent […]
Following weeks of protests by truckers opposing Canada’s vaccine mandates – labeled the ‘Freedom Convoy’ – on February 15th 2022 Canada’s Attorney General, alongside other members of the government, declared a public order emergency. To do this, the government invoked […]
In 2021 ComplyAdvantage surveyed compliance leaders globally to build an assessment of the state of financial crime in the year ahead. One of the key questions we asked in the survey was: How has the number of suspicious activity reports […]
The European Banking Authority (EBA) has launched a central database for anti-money laundering and countering the financing of terrorism (AML/CFT), which it hopes will act as an “early warning tool” across the European Union. The European reporting system for material […]
This annual report, based on a global survey of 800 compliance professionals across North America, Europe and Asia Pacific explores some of the biggest financial crime challenges firms are facing.
The US Treasury’s Financial Crimes Enforcement Network (FinCEN) has proposed new measures to allow banks to share suspicious activity reports (SARs) more easily with foreign branches, subsidiaries and affiliates. In a Notice of Proposed Rulemaking (NPRM) FinCEN has asked for […]
Plans to stop misleading advertising by high-risk and cryptocurrency firms have been published by the Financial Conduct Authority (FCA). A consultation on proposals to strengthen financial promotion rules runs from January 19 until March 23, 2022. It forms part of […]
Banks in Australia have been praised by the Australian Transaction Reports and Analysis Centre (AUSTRAC) for improving their compliance programs to more effectively tackle money laundering, organized crime, tax evasion, and welfare fraud. AUSTRAC said that it is now better […]
Following a review of its AML/CFT framework, the European Union is preparing to introduce a suite of new regulations that will have significant implications for firms operating in, or doing business with, EU countries.
As part of Estonia’s mission to become ‘the world’s most advanced digital society’, the government established the e-Estonia program. e-Estonia was put into action in 1996 through the Tiger Leap Initiative, a roadmap to develop the country’s IT infrastructure. This […]
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