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Sentinels, which helps detect money laundering in real-time, has released a report outlining why real-time transaction monitoring is the next step for compliance functions.
Financial crime prevention firm Resistant AI has deployed technology into Netherlands-based B2B FinTech FINOM to bolster AML measures.
ComplyAdvantage has released ComplyTry, a new tool that lets anyone verify prospective customers by leveraging live sanctions, politically exposed people (PEPs) and adverse media data.
UR Islamic Bank will implement Capital Banking Solutions’ integrated compliance platform to help prevent money laundering and tax evasion in Iraq.
NatWest has pleaded guilty to money laundering failings amounting to £365m from UK-based jeweller Fowler Oldfield.
German financial regulator BaFin has told banking giant Deutsche Bank it needs to introduce stronger action on money laundering.
Money laundering, bribery and corruption are still a pressing issue within financial institutions, but the best way to combat this is through solid operational risk management sponsored from the top.
As the number of money laundering and financial crime cases keep growing, Sigma Ratings argues that it is time for financial services firms to rethink risk management.