Digital banks don’t face fundamentally different typologies or risk profiles to other financial institutions. However, their digital-first approach, rapid growth rate and focus on seamless onboarding can make them appealing targets for money launderers. Here, we explore the top typologies […]
HTB is working to stay ahead of the rapidly evolving financial crime landscape, and the growing sophistication of fraudsters. To support this work it was looking for a transaction monitoring and screening solution that would meet the needs of its growing customer base while safeguarding the bank’s reputation.
The way in which we interact with our banks has changed significantly over the past decade. Financial Technology firms (FinTechs) have enabled greater flexibility, not only in our choice of banking provider, but also in terms of how we access […]
Regulated financial institutions around the world follow a similar process when it comes to reporting suspicions of money laundering via Suspicious Activity Report (SAR) disclosures to their regulator or law enforcement. However, there may be some deviation in how the […]
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has released a new guide aimed at tackling the increasing misuse of transaction payment text fields by criminals. The guide, Preventing misuse and criminal communication through payment text fields, aims to raise […]
Banks offering digital-first services are redefining how consumers worldwide access and interact with their money. This guide explores how digital banks can successfully build and scale an AML program.
Austria, one of Europe’s major financial hubs, is aiming to turn the page on a series of money laundering scandals that have rocked the country’s banking sector. Peter Weinzierl, the former CEO of Bank Meinl, a leading Austrian bank, was […]
BaFin put N26 on warning once again for their lax anti-money laundering controls, according to an announcement made by the German regulator on Tuesday, May 11. The digital bank has been ordered to “rectify deficiencies both in IT monitoring and […]
The Importance of Customer Experience for Banks The COVID-19 pandemic has accelerated digital transformation. As a result, digital customer experience plays an increasingly important role in the competitive landscape. This is no less true in the banking and financial services […]
Transaction Monitoring For Challenger Banks Representing a disruptive presence on the traditional financial landscape, challenger banks compete with traditional ‘high street’ banking institutions by offering a diverse range of services to their customers, often delivered online with a focus on […]
US Challenger Banks Compliance In a changing financial landscape, challenger banks are disrupting the space occupied by traditional banks and financial institutions by offering an array of innovative digital services delivered online. In the United States, recent uptake of challenger […]
Challenger Banks: AML Vulnerabilities During the Covid-19 Pandemic Coronavirus lockdown restrictions have had a significant impact on the financial sector prompting changes in the habits of service providers and customers alike. One of the most prominent effects of lockdown is […]
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