AML Transaction Monitoring Software: How to Save Time With Your AML/CFT Process In order to satisfy AML/CFT compliance requirements, banks and financial institutions must monitor customer transactions for signs of money laundering activity. However, since that process requires firms to […]
Anti-Financial Crime in a Time of Crisis Executive Summary We live in an age of crises; ensuring business continuity is no longer a ‘nice to have’ for any firm. It is essential. Financial Institutions in particular are always highly sensitive […]
There has been an expectation that with a cashless society imposed by the global pandemic, the financial crime rate would fall. There was a general belief that at least crime may falter on the physical front as criminals shifted to […]
Data is made up of qualitative and quantitative information updated every second of every day worldwide. But as data streams increase in size and complexity, the speed at which financial institutions utilize these insights has become just as vital as […]
PEPs and Life Insurance Policies: Things You Should Be Aware Of A politically exposed person (PEP) is an individual with a high profile political role, or who has been entrusted with a prominent public function. They present a higher risk […]
PEP (politically exposed person) screening is crucial to AML/CFT programs around the world since it helps to identify individuals who are vulnerable to money laundering activities and to protect both financial systems and their institutions. However, once an individual steps […]
Adverse media aka negative news is no longer an issue that can be ignored by financial institutions (FIs). Using adverse media screening with AI has a powerful impact for any FI. It has the capacity to shield them from facilitating […]
The European Union’s 6th Money Laundering Directive (6AMLD) came into effect for member states on 3 December 2020 and must be implemented by financial institutions by 3 June 2021. Following 5AMLD, which broadly strengthened existing AML/CFT provisions, the sixth anti-money […]
AML/CFT compliance obligations continue to create massive operational headaches for financial institutions. It’s not easy to navigate an increasingly complex regulatory landscape while also providing a seamless user experience for customers. But regtech solutions, which leverage emerging and innovative technologies […]
The Autorité de Contrôle Prudentiel et de Résolution (ACPR) was founded in 2010 as a merger of the French Banking Commission, the Committee for Credit Card Institutions and Investment Firms (CECEI) and the Mutual Insurance Supervisory Authority (ACAM). Initially known […]
Guide To Money Laundering in Dubai, And The Importance Of Dubai Financial Services Authority (DFSA) One of the most important financial hubs in the United Arab Emirates and the Middle East, Dubai hosts a range of international business interests in […]
What is a Geographic Targeting Order? Geographic targeting orders (GTOs) are a tool used by the Financial Crimes Enforcement Network (FinCEN) to detect and prevent money laundering. GTOs impose AML requirements on obligated firms, in addition to standard Bank Secrecy […]
EN