Tag: Money Laundering
Navigating the intricacies of PEP identification in FinTech compliance
Politically Exposed Persons (PEPs) represent a significant risk for money laundering and corruption within the financial sector. Alessa, a leading provider of Anti-Money Laundering...
Combating business email compromise: Strategies for financial firms
In the ever-evolving landscape of financial crimes, firms across the globe are grappling with the challenge of safeguarding their operations and reputation. Among the myriad of schemes that threaten the integrity of financial institutions, Business Email Compromise (BEC) stands out for its cunning simplicity and potentially devastating impact.
Arctic Intelligence introduces free trial for AML Accelerate platform
Arctic Intelligence, a leader in RegTech solutions, has recently unveiled a 14-day obligation-free trial of its acclaimed AML Accelerate platform.
Revolutionising AML strategies: The power of human-technology synergy in compliance
The significance of modern Anti-Money Laundering (AML) compliance cannot be overstated, especially in an era where digitalisation is a cornerstone of our daily interactions. While RegTech has revolutionised the approach to combating financial crimes like money laundering and terrorist financing, it's crucial to acknowledge that technology alone isn't the panacea.
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.
Understanding the intricacies of money laundering typologies
In a recent post by RegTech firm Alessa, the company outlined how best to understand the intricacies of money laundering typologies.
Lynx gets its paws on €17m in Series A led by...
Lynx, which focuses on detecting and preventing fraud and financial crimes, has closed its Series A funding round on €17m.
Over a third of UK emerging financial firms report money laundering...
In a shocking revelation, a recent survey has highlighted that 36% of firms in the emerging financial sectors of the UK have fallen prey to either money laundering or financial crime in the last half year. The banking sector has been particularly hard-hit, emerging as the most affected sector.
Unravelling the importance of CIP rules for financial institutions
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...
Singapore’s single family offices to face strengthened AML controls
The MAS has initiated a consultation on a framework to bolster the surveillance and defence against money laundering risks in Singapore's SFO sector.