A Regione sadipscing ex mea. Option comprehensam ei duo, per facete aperiri deterruisset at, est ut falli viderer tibique. Et tota illum pertinacia sea, ut usu augue vivendum. Amet deseruisse dissentiunt cu est.
The City of London calls for banks to make better use of RegTech, the EU announces a five-year plan to tackle money laundering and financial crime, and FinCEN shuffles its leadership ahead of a new financial transparency law.
All too often, FIs continue with ineffective traditional methods based on a lack of technology, process and approach that could enable them to instead to rely on a trigger-based approach to client reviews.
EY drops appeal against $10.8m payment to whistleblower who found evidence of a money laundering cover up, Britain’s financial services minister says cryptocurrency regulations will prioritise stablecoins first and first post-Brexit MoU agreement between U.K. and E.U. is encouraging for London finance firms.
Germany’s finance watchdog BaFin hires top Swiss regulator as their new president, London art galleries are issued an “amber alert” from the National Crime Authority and UBS appeal their £3.85 billion fine from 2019.
FinCEN has informed art and antiquities traders that they will be subject to the same reporting standards as financial institutions; Trinidad & Tobago’s FIU received a record number of SARs and South Korea is set to impose heavy penalties on cryptocurrency violations.
Reports suggest UK universities unknowingly facilitate money laundering, a UN Commission report spotlights international financial system failures, and the UAE takes a major step in combating money laundering.
Computers are amazing at doing dull, repetitive tasks. They’re also great at being precise. Since we humans are terrible at doing dull tasks and quite bad at being precise, this makes us a match made in heaven.
High levels of AML related regulatory fines and the tiny proportion of illicit funds that are recovered - despite the amount spent on financial crime compliance - show that the current methods for detecting financial crime are falling short. Find out why in this blog.
Regardless of how you feel, despite massive digital advances, cash remains firmly rooted in our society. There are currently over 70 billion pounds worth of notes in circulation, which is perhaps surprisingly roughly twice as much as 10 years ago.
The property sector gets a pummeling this week as online estate agent Purplebricks was recently fined by the HMRC for beaching AML regulations, and banks look towards job cuts in compliance departments to deal with financial losses.
The FCA’s Office for Professional Body Anti-Money Laundering Supervision (OPBAS) has released its latest report on the progress that professional body supervisors (PBSs) have made in tackling money laundering.
Coronavirus has changed our lives this month in ways we couldn’t imagine just a few weeks ago. It has dominated the headlines, and our thoughts and sympathy are with those people that have paid the ultimate price.
Who regulates me? This blog updates an earlier version in which we list the relevant supervisory and regulatory bodies responsible for ensuring the UK's anti-money laundering regulations are upheld. Find out who regulates your industry.
Learn more about compliance, AML and technology, and how we aim to revolutionise this space. We write about industry matters, regulatory concerns, the financial crime headlines and, last but not least, our favourite topics - technology and AI.