Tag: Compliance

With the financial industry continuously ripe for disruption, challenges surrounding risk and compliance in the industry are always evolving.

As financial companies face tougher regulators, ensuring risk management in AML compliance is becoming ever more important. 

In the face of current economic tribulations, companies are tightening their belts, seeking value in every pound spent. At the same time, criminal activity, particularly financial crime, escalates during such precarious times, amplifying the demand for effective and resilient financial crime mitigation programmes.

Resistant AI, a fraud and financial crime prevention services provider, has received a clean System and Organization Controls (SOC) 2 Type 1 attestation report.

Despite the rising usage of cryptocurrency, regulations are still quite bare and confusing. Principal to this is crypto tax reporting, which some countries are setting rules for, before even clarifying taxation laws.

Elementus, a blockchain intelligence platform aimed at helping financial institutions and crypto exchanges, has raised $10m in its Series A-1 round.

In a time where the compliance function is changing, RegTech market players are looking at an evolving industry. What trends will stand out in the industry this year?

Following the invasion of Ukraine, financial institutions have seen a tidal wave of sanctions. Implementing strong sanctions screening tools enables FinTechs and neobanks to bolster their market reputation.

Holistic views of integrity risks within the supply chain allows teams to reduce the potential for illicit activity to slip through the net, according to Quantexa.

UK firms could be the next to face greater regulatory scrutiny and fines for off-channel trading communications, according to a survey by Global Relay.