Tag: FATF

Banks have long carried the heaviest anti-money laundering (AML) burden, but regulators are increasingly turning their attention to life insurers. Handling large premiums over...

Compliance obligations are spreading well beyond financial services, and according to RegTech firm CUBE, firms that wait for deadlines to force their hand risk...

Financial institutions are increasingly using automation to manage growing AML workloads, but RegTech provider ZIGRAM argues that more automation does not necessarily mean better...

Fraud-as-a-Service (FaaS), in which criminal groups buy or rent data, tools, infrastructure and specialist capabilities, is creating a more fragmented financial crime environment for...

Customer due diligence (CDD) in South Africa has grown from a basic know your customer (KYC) exercise into one of the most demanding parts...

Enhanced due diligence (EDD) becomes necessary the moment a customer or transaction carries more risk than standard checks can capture. According to Opoint, rather than...

Regulatory fines dominate the headlines, but for South African institutions caught out by AML failures, the printed penalty is only the opening chapter. According to...

FATF, the intergovernmental body that sets global standards for tackling money laundering and terrorist financing, has published a new report warning that underground banking,...

Australia lost an estimated $87.39bn to money laundering in 2024-25, according to analysis from Napier AI, which argues that artificial intelligence must be used...

Banks could face greater scrutiny over their exposure to illicit gold as international efforts to tackle financial crime increasingly focus on cross-border intelligence and...