Tag: financial institutions

In October 2023, the UK implemented the Economic Crime and Corporate Transparency Act (ECCTA), setting stringent identity verification (IDV) mandates for shareholders, directors, and...

In recent years, off-channel communications have come under the intense scrutiny of regulators like the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). This scrutiny is largely due to the risks these unmonitored communications pose, ranging from compliance issues to gaps in record-keeping that can affect investor protection.

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.

The United Arab Emirates (UAE) has made significant strides in its anti-money laundering (AML) and combating the financing of terrorism (CFT) frameworks.

Compliance officers in the asset management sector are pivotal, often juggling multiple responsibilities.

FinTech Global recently spoke to RegTech firm Qkvin to explore what the five major challenges financial institutions face with financial crime and how Qkvin can resolve them.

The buzz surrounding Artificial Intelligence (AI) often heralds it as a panacea for all modern problems. Yet, the reality is more nuanced, as the...

In financial crime compliance, regulators have set expectations for financial institutions to conduct thorough assessments of name screening alerts.

SaaS adoption in the financial and insurance services sectors is projected to grow significantly, reaching more than $130bn by 2027, up from $54bn in 2022.

As technology evolves, so does the network of bad actors who take advantage of it for illicit gains, leaving governments scrambling to modernise the way they regulate criminal activity.