Tag: Money Laundering 2023
Unlocking the secrets of enhanced due diligence in global finance
The world of global finance comes with its share of dangers. From the looming shadows of money laundering to the menace of terrorist financing,...
Global financial threads: The risks and rewards of correspondent banking
Correspondent banking plays a pivotal role in shaping the global financial landscape. Serving as the backbone of international trade, especially for budding and developing economies, it offers a platform for banks to provide services on behalf of other financial institutions, typically situated in diverse countries. This extends to executing transactions, overseeing wire transfers, and collecting crucial documents.
Navigating AML compliance in 2023: A detailed guide for MSBs
Money Service Businesses (MSBs) have emerged as a crucial part of the financial ecosystem, bridging a gap that once only traditional banks would fill.
Transforming regulatory compliance and risk management with DRYiCE iControl
The global business head of DRYiCE iControl highlighted how firms can transform regulatory compliance and risk management.
BIS Innovation Hub uses AI and data analytics for efficient money...
The BIS Innovation Hub has found that a number of key tech developments have proven to be superior for detecting money laundering networks.
FCA underscores urgent need for robust control measures in UK payment...
The Financial Conduct Authority (FCA), the UK's principal financial regulator, sent a pointed "Dear CEO" letter on 16 March 2023. Initially, it praised the competition and innovation witnessed in the payment sector. However, this recognition was soon overshadowed by grave concerns.
