Tags Financial crime.

Tag: financial crime.

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.

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...

How luxury goods are exploited in money laundering schemes

Luxury goods encompass high-end items associated with prestige and significant monetary value.

How SymphonyAI empowers financial crime investigators to become more efficient

As budgets tighten, financial services firms require more efficient ways to handle their financial crime prevention. Jason Shane, Head of Strategy & Innovation at SymphonyAI’s financial services division, explains why SymphonyAI is the perfect solution to this problem.

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).

How Napier AI leads the charge in compliance-first transaction monitoring

The financial sector, including banks, payment firms, FinTechs, and wealth and asset managers, faces significant challenges in interpreting regulatory guidance and converting it into...

The intersection of KYB and AML: A guide to business identity...

Know Your Business (KYB) and Anti-Money Laundering (AML) are critical parts of the compliance ecosystem, but how aligned are they? FullCircl, a SaaS platform renowned for eliminating regulatory and verification hurdles, recently delved into the role of KYB in the AML process. 
Are financial institutions struggling to keep up with modern sanction and PEPs lists? - Part 1

Are financial institutions struggling to keep up with modern sanction and...

The war in Ukraine has underscored how quickly sanction and PEPs lists can change. Since 2022, the US, UK, EU, Australia, Japan and Canada have imposed over 16,500 sanctions on Russia, according to the BBC. The current turbulent geopolitical scene means financial services firms need to be ready for regular, and often sudden, changes to PEPs and sanction lists. FinTech Global recently spoke to several industry players to ask whether financial institutions are keeping up with the modern sanction/PEPs landscape.

RegTech pioneer GSS secures $47m in transformative Series A2 funding

Global Screening Services (GSS), a forefront runner in the RegTech industry, has successfully completed its Series A2 funding round, securing over $47m (£37m).
Key AML compliance strategies for wealth and asset managers in 2024

Key AML compliance strategies for wealth and asset managers in 2024

In an era where regulatory oversight of the wealth and asset management sector is intensifying globally, the stakes for compliance have never been higher. This sector, pivotal to national economies, plays a crucial role in helping consumers manage their assets and achieve their financial goals. However, its significance also makes it a potential target for misuse by malicious entities aiming to launder money.

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