Tag: CFT
US regulatory priorities in 2023 & the coming years
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.
The critical role of risk assessment in preventing financial crime
In the rapidly evolving financial services industry, the importance of effective risk assessment is often overlooked.
How to achieve efficient data integration in AML/CFT platforms
The constant evolution of the financial landscape has placed anti-money laundering (AML) and counter-financing of terrorism (CFT) measures at the forefront of combating financial...
Streamlining banking procedures: How digital onboarding is enhancing customer experiences
In a recent post by Fenergo, the company outlined how digital transformation is changing the way people open accounts.
The European Commission makes four proposals to revamp AML and CFT...
The European Commission has announced the creation of a new EU authority to fight money laundering, as part of a series of proposals to combat rising fraud threats.
US regulatory bodies issue statement on digital assets
US regulators have come together to issue a joint statement reminding those engaged with digital asset to meet anti-money laundering (AML) and counter financing terrorism (CFT).
European Supervisory Authorities to aid information exchanges needed for AML/CFT
The European Supervisory Authorities (ESAs) has established a multilateral agreement for the ‘practical modalities’ for information exchange between the European Central Bank (ECB) and AML/CFT competent authorities (CAs).
