Tag: AI in Compliance

On 14 March 2023, FullCircl led a significant assembly of the UK's premier financial crime and compliance authorities to impart crucial insights and strategies in anti-money laundering (AML), compliance, and anti-fraud that are setting financial institutions (FIs) apart in the competitive arena.

The significance of modern Anti-Money Laundering (AML) compliance cannot be overstated, especially in an era where digitalisation is a cornerstone of our daily interactions. While RegTech has revolutionised the approach to combating financial crimes like money laundering and terrorist financing, it's crucial to acknowledge that technology alone isn't the panacea.

2023 was a pivotal year in digital communications governance. In the US, regulatory bodies imposed hundreds of millions in fines, extending their reach from banks to broker-dealers, investment advisers, and credit rating agencies. Similar actions were observed in the UK, with regulatory bodies sanctioning banks and fining firms for non-compliance in trading communications.

Ripjar, a prominent entity in identifying and combating malevolent and illicit activity, unveiled its 2023 State of Adverse Media Screening report which focuses on the utilisation of adverse media screening amongst compliance professionals.

MyComplianceOffice (MCO), a distinguished conduct risk and compliance technology provider, is set to acquire Fairwords, an innovator in AI-powered electronic communications software.