Tag: risk assessment

The Attorney General’s Department (AGD) in Australia initiated a public consultation on 20 April 2023 to discuss proposed reforms to the country’s anti-money laundering and counter-terrorism financing (AML/CTF) regime. These potential changes aim to broaden the current AML/CTF legislation to cover 'tranche-two' high-risk sectors including lawyers, accountants, real estate agents, company service providers, and dealers in precious metals and stones.

In the high-speed and complex financial landscape we find ourselves in today, one of the most significant hurdles to overcome is the ever-present threat of financial crime. Acuminor has outlined how firms can leverage risk assessment processes to boost optimization, customer satisfaction and competitive advantage.

WealthArc, a major player in the WealthTech industry, has recently highlighted key components of the Financial Services Act (FinSA) or FIDLEG compliance and how its platform aids companies to meet the Swiss Financial Market Supervisory Authority's (FINMA) expectations.

Themis has launched a supply chain risk assessment tool that will enable firms to map out geographies and sectors and touch points from financial crimes.

A recent blogpost by Arctic Intelligence detailed how a letter by the Financial Conduct Authority (FCA) has exposed companies’ poor quality of business risk assessments.

With every opportunity digital technology has provided to banks, customers and counterparties, it has also altered existing risk and often introduced new risk. While digital transformation is creating major opportunities, understanding and navigating through those risk areas is critical.

IT consultancy firm Tech Mahindra has formed a strategic partnership with LIFARS, a New York City-based cybersecurity business.