Although prepaid credit cards have been available since the 1990s, their popularity grew significantly in the late 2000s and continued to do so over the following decade. By 2027, research suggests that the prepaid cards global market will be worth $3tn, creating […]
Financial institutions have traditionally opted for on-premises software solutions to help them comply with AML requirements out of a sense of security. But many are now choosing to move to cloud-based solutions. The reason: the financial landscape is rapidly evolving. […]
Digital payments are growing at an annual rate of 12.7% and are projected to reach 726 billion transactions in 2020. As payment technology goes digital, money laundering methodologies are also changing. To manage those new threats, many financial institutions are […]
EU anti-money laundering directives are issued periodically by the European Parliament to be implemented by member states as part of domestic legislation. European anti-money laundering directives (AMLD) are intended to prevent money laundering and terrorist financing and establish a consistent […]
Fraud and money laundering are often connected in criminal and regulatory contexts, and this proximity is reflected in the crossover of responsibilities of AML and anti-fraud employees. However, while they face similar threats, AML and fraud departments often operate in […]
The illegal wildlife trade (IWT) is a global problem that threatens the survival of many species, from small reptiles and amphibians to large mammals like elephants, rhinoceroses, and tigers. IWT is driven by various factors, including poverty, the demand for […]
As financial authorities adapt to evolving criminal threats, risk assessment has become a foundation of AML/CFT compliance around the world. Banks and financial institutions must understand how to efficiently manage the money laundering and terrorism financing risks they face in […]
As the largest economy in the world and an influential political power, the United States plays an important role in the global fight against money laundering and the financing of terrorism. The US is a member of the Financial Action […]
Money laundering — the “cleaning” of criminal funds to make them appear legitimate — is big business. According to the United Nations Office on Drugs and Crime (UNODC), the estimated amount of money laundered globally in one year is 2–5% […]
According to PwC’s Global Economic Crime Survey 2022, around two-thirds of insurance companies were subject to some form of financial crime in 2021. Life insurance companies are at particular risk of money laundering because of the massive flows of funds […]
The UK anti-money laundering legislation is dictated by the Proceeds of Crime Act 2002 (POCA), the Terrorism Act 2000 and the Money Laundering, Terrorist Financing and Transfer of Funds 2017. The UK is a member of FATF and, accordingly, the […]
As cryptocurrency usage increases, so too do cryptocurrency regulations around the world that are put in place to govern them. The crypto landscape is constantly evolving and keeping up to date with the rules in different global territories isn’t easy. […]
EN
FR