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Tag: Anti-Money Laundering
Why banks are ditching right-sizing in favour of AI-driven AML/KYC compliance
WorkFusion has teamed up with 1LoD to produce a comprehensive Financial Crime Benchmarking Survey & Report, offering fresh insight into how top global banks...
Fincom lands fresh backing from Nasdaq Ventures and Macquarie to boost...
Fincom, a RegTech company specialising in anti-money laundering (AML) compliance, has completed its Series B funding round, marking a significant step in its international expansion plans.
Why banks must replace, not augment, legacy AML systems
Many financial institutions are still holding onto legacy anti-money laundering (AML) systems, opting to layer new technology over outdated infrastructure rather than starting afresh.
While...
The rising threat of money mules and how AI is helping...
In 2024, Nasdaq reported that more than $3.1tn in illicit funds circulated through the global financial system, with much of it hidden using so-called ‘money mules’.
How compliance leaders can harness AI responsibly in financial services
Artificial intelligence is no longer a future prospect for financial services; it is a present reality, evolving quickly and reshaping the compliance landscape. From enhancing risk detection to improving operational efficiency, AI offers immense potential. However, its rapid adoption also brings fresh regulatory questions, new risks, and ethical challenges.
Inside MAPFRE MSV Life’s automation journey with KYC Portal CLM
MAPFRE MSV Life has taken a significant step towards digitising its anti-money laundering (AML) operations through the adoption of KYC Portal CLM.
How federated learning and machine learning are reshaping customer risk ratings
Customer Risk Ratings (CRRs) have long been integral to anti-money laundering and counter-terrorist financing (AML/CFT) frameworks.
What are essential strategies for AML offices in combating healthcare fraud?
Healthcare fraud continues to escalate, posing significant challenges to both the financial health of medical institutions and the trust patients place in healthcare providers....
Why banks must maintain FCC operations despite rollbacks of regulation
Regulatory change is nothing new in the banking and financial services world. However, under the Trump administration, the pace of deregulation has accelerated sharply,...
How the 3 stages of money laundering work and how to...
When criminal organisations generate illegal profits, they must clean or ‘launder’ the money before it can be safely used in the legitimate economy. This is typically done through a carefully structured three-stage process. Understanding these stages is vital for businesses implementing anti-money laundering (AML) strategies, as it can help identify potential criminal activity.
