Tag: Anti-Money Laundering

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. 

Proliferation Financing (PF) is becoming an increasingly important aspect of the compliance landscape, akin to well-known areas like anti-money laundering (AML) and counter-terrorism financing (CTF). Recently, regulators, particularly in the UK, have begun implementing stricter measures to help businesses identify and mitigate PF risks.

The landscape for Payment Service Providers (PSPs) is rapidly evolving, with a pressing need to scale operations effectively while managing Anti-Money Laundering (AML) compliance risk. RegTech company Fenergo has released a report outlining how payment service providers can reduce AML compliance risk.

In the fast-paced world of corporate governance, 2024 looms with unprecedented challenges. As we peer into this future, it's evident that the previous years' tumult is but a prelude to a more formidable scenario, where managing a constellation of risks - from ESG and cyber threats to the omnipresence of AI - demands agility, foresight, and an integrated organizational perspective.

Generali Investments Holding, a powerhouse in the world of asset management with over €504bn assets under management (AUM), has chosen to partner with Fenergo, the industry leader in digital solutions for Know Your Customer (KYC), Transaction Monitoring, and Client Lifecycle Management (CLM).

Revolut, a global financial superapp serving over 35 million customers, has significantly expanded its Financial Crime (FinCrime) division, doubling the headcount since 2021.

Financial institutions often fall prey to money launderers who exploit these platforms to funnel, mask, transfer, and cleanse ill-gotten gains. This doesn’t just endanger...

Politically Exposed Persons (PEPs) are a key topic of discussion right now. Fenergo recently took the chance to dip deeper on PEPs and the fight against financial crime. 

Money Service Businesses (MSBs) have emerged as a crucial part of the financial ecosystem, bridging a gap that once only traditional banks would fill.

Flagright, renowned as a global force against financial crime, has formally announced its collaboration with the Anti-Human Trafficking Intelligence Initiative (ATII).