Tag: Anti-Money Laundering
Rising regulatory challenges propel the necessity for robust entity verification
In today's intricate business environment, understanding the entities with which companies conduct business is becoming increasingly vital.
Nordea faces charges in Denmark’s largest money laundering case
Nordea, the largest bank in the Nordic region, has been officially charged in Denmark's biggest money laundering case to date.
The charges state that Nordea...
Napier AI’s call for smarter CDD practices in HM Treasury’s latest...
Napier AI has responded to a consultation from HM Treasury, the UK government's economic and finance ministry, on enhancing the effectiveness of the Money Laundering, Terrorist Financing, and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs). These regulations require businesses to identify and prevent money laundering and terrorist financing.
How the UAE’s exit from the FATF grey list boosts international...
The United Arab Emirates (UAE) has made significant strides in its anti-money laundering (AML) and combating the financing of terrorism (CFT) frameworks.
Navigating KYC and KYB: Essential strategies for regulatory compliance in FinTech
In the realm of FinTech, understanding the nuances between Know Your Customer (KYC) and Know Your Business (KYB) is essential for businesses navigating the complexities of regulatory compliance and risk management. Both KYC and KYB processes are foundational in building trust and ensuring financial integrity within companies.
Hawk secures additional Series B funds as Rabobank joins raise
Hawk AI, a key player in the FinTech industry, has announced a significant boost to its Series B funding today, marking an increase in valuation.
Navigating regulatory challenges amidst shifting global trends
As 2024 progresses, regulators worldwide find themselves increasingly busy, grappling with the dual challenges of an ever-changing geopolitical landscape and the rapid evolution of...
Investment companies and shell companies: The hidden tools of money laundering
Money laundering is the process of disguising the proceeds of criminal activity as legitimate funds in an effort to conceal their illicit origin.
SmartSearch launches global ID verification solution to combat financial crime
SmartSearch, a provider of digital compliance and AML solutions, has announced the launch of its International Individual Check solution.
Insights from a data scientist: Implementing AI in financial crime compliance
The financial services industry is undergoing a transformation driven by artificial intelligence (AI) technologies, particularly machine learning (ML). These advancements are significantly enhancing anti-money laundering (AML), counter-financing of terrorism (CFT), and sanctions screening as part of customer lifecycle management (CLM).
