Tag: AML

In recent years, United States financial regulators have established themselves as global leaders in enforcement. In 2022, they imposed $3bn in fines, nearly three quarters of the world’s $4.2bn total. 2023 continued this trend, with US financial institutions paying 83% ($157.26m) of total penalty dollars, a stark contrast to their 10% share in global regulatory violations.

In a recent Fenergo webinar, 'Guidance on the Global 2024 Regulatory Changes', experts delved into the forthcoming regulatory trends for 2024.

OneID, the UK's leading digital identity service, has reached a new milestone in the field of Identity Verification for Know Your Customer (KYC) and Anti-Money Laundering (AML).

In the rapidly evolving financial services industry, the importance of effective risk assessment is often overlooked.

Flagright recently took the opportunity to explain how financial firms can navigate the complexities of AML data integrity. 

The European Parliament and Council have reached a political agreement on the establishment of an Anti-Money Laundering Authority (AMLA).

Flagright, a global leader in AI-powered AML and fraud prevention solutions, has proudly announced its newest customer, Aforti.

Refine Intelligence, a FinTech company specialising in Financial Crime Greenflagging, announced its launch, marking a significant advancement in anti-money laundering (AML) practices.

RegTech firm Flagright recently detailed the role technology plays in the streamlining and simplifying of AML workflows. 

Fraud in the UK has become a significant concern, with 40% of crimes being fraudulent. Money muling is at the forefront, where fraudsters utilise synthetic or real mule accounts for financial gain. The UK government, recognizing the seriousness, plans to publish an action plan to combat this issue.