Tag: AML

The upcoming Artificial Intelligence (AI) legislation, notably the European Parliament's Artificial Intelligence Act, is poised to redefine the regulatory landscape for financial institutions. Touted as the globe's inaugural framework for "trustworthy AI," the act is set to amplify the compliance obligations of anti-money laundering (AML) and anti-fraud teams. However, this impending challenge is mitigated by the availability of purpose-built AI solutions tailored to meet these burgeoning requirements.

Onfido, a global pioneer in automated identity verification, has launched the Compliance Suite to address the pressing need for a unified identity verification solution. This...

In the rapidly evolving sectors of finance and governance, managing risk amidst vast, global networks of individuals and organizations is crucial. Leaders tasked with overseeing institutional risk exposure are increasingly looking towards innovative solutions to balance growth and risk management effectively.

Flagright recently took the opportunity to explain how the new AML laws in the EU will impact high net worths and luxury ownership.

Governance and risk assessment are not merely regulatory checkboxes but the bedrock of a robust BSA/AML and OFAC compliance program.

In the battle against money laundering, the significance of data retention in anti-money laundering (AML) compliance is often underestimated.

Fenergo's recent webinar, 'KYC, AML, & Onboarding in 2023 – Were Lessons Learned or Do Old Habits Die Hard?', brought together compliance experts to...

In recent years, United States financial regulators have established themselves as global leaders in enforcement. In 2022, they imposed $3bn in fines, nearly three quarters of the world’s $4.2bn total. 2023 continued this trend, with US financial institutions paying 83% ($157.26m) of total penalty dollars, a stark contrast to their 10% share in global regulatory violations.

In a recent Fenergo webinar, 'Guidance on the Global 2024 Regulatory Changes', experts delved into the forthcoming regulatory trends for 2024.

OneID, the UK's leading digital identity service, has reached a new milestone in the field of Identity Verification for Know Your Customer (KYC) and Anti-Money Laundering (AML).