Tag: financial crime.

Quantifind, a leader in AI-driven risk intelligence, is making significant strides in transforming financial crime compliance. FinTech Global recently sat down with Annalisa Camarillo,...

Feedzai, a fraud and financial crime prevention company specialising in AI-powered solutions for financial institutions, has acquired DemystData, a provider of data integration and orchestration technology known for its Zonic platform.

In today’s rapidly shifting regulatory landscape, firms are under mounting pressure to shift from reactive to proactive compliance. The days of treating compliance as...

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.

The Hong Kong Monetary Authority (HKMA), the Hong Kong Police Force (HKPF) and The Hong Kong Association of Banks (HKAB) have unveiled a raft...

Human trafficking is a lucrative industry, generating an estimated $150bn annually. This staggering amount circulates through global financial systems, touching banks, payment platforms, and numerous supply chains.

Money laundering is a serious global issue that enables grave crimes such as drug trafficking, human smuggling, and terrorism. For businesses handling significant financial transactions, it is crucial to establish robust anti-money laundering (AML) measures. These include detailed Know Your Customer (KYC) and Know Your Business (KYB) processes that involve rigorous identification, verification, screening, and monitoring of both individual and corporate clients.

In the intricate game of cat and mouse played between law enforcement and criminal organizations, the latter often seem to have the upper hand. These groups, including terrorist networks, are becoming increasingly sophisticated, using dual-use technologies to disguise their illicit activities.

Let’s acknowledge a crucial aspect from the outset – managing the Customer Lifecycle Management (CLM) journey has become an increasingly complex, costly, and challenging endeavor. This is a shared challenge across the financial sector, exacerbated by an era marked by continuous change.

In the realm of AML protocols, Negative News Screening (Adverse Media Screening, AMS) stands as a critical frontline defence.