Tags AML

Tag: AML

How customer type and geography define AML risks in business

Customer classification plays a pivotal role in the AML strategies of businesses, especially within banking, finance, and gaming sectors. According to Alessa, customer-type ratings...

What FATF’s 2024 travel rule revision means for payment service providers

The FATF has placed significant emphasis on the revision of Recommendation 16, known as the "Travel Rule," in response to the evolving landscape of payment technologies.

Navigating the complexities of sanctions screening in AML compliance for 2024

Sanctions screening is an integral aspect of AML practices, ensuring organisations do not inadvertently engage with entities or individuals subject to international or national sanctions, thereby avoiding facilitating unlawful activities.

FinCEN issues alert on deepfake fraud schemes targeting financial institutions

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a critical alert to assist financial institutions in identifying and addressing fraud schemes involving deepfake media created with generative AI (GenAI) tools.

An essential guide to AML watchlist screening

With anti-money laundering (AML) regulations now a critical priority for businesses engaged in financial transactions, companies face mounting challenges to remain compliant. One essential...

How AI is shaping the future of financial crime prevention strategies

As artificial intelligence (AI) continues to advance, its role in financial crime prevention is growing, with organisations now considering AI as a foundational element in their risk management strategies.

What are the challenges and opportunities for real-time AML compliance?

With the challenges of financial crime increasing with an ever-growing digital presence for firms and threat actors alike, there is a growing desire in the industry for more real-time management of such threats. What are the challenges and opportunities for such technologies?
New Napier AI report highlights $3.13trn potential savings with AI in AML compliance

New Napier AI report highlights $3.13trn potential savings with AI in...

Napier AI, a RegTech company offering a range of compliance tools and services, has launched its inaugural AI / AML Index, revealing that artificial intelligence could enable global economies to save $3.13trn annually by enhancing the detection and prevention of money laundering and terrorist financing.

FCA’s new guidelines on PEPs: A shift towards risk-sensitive compliance

In July 2024, the FCA initiated a crucial dialogue within the financial sector by opening a consultation aimed at refining the treatment of PEPs. 

Eight countries represented in top 10 European RegTech deals in H1...

Key European RegTech investment stats in H1 2024: European RegTech investments halved in H1 YoY Investors diversify as eight countries represented in the top...

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