Tag: financial crime.

Money laundering is a global issue, undermining economies and enabling illicit activities by disguising illegal funds as legitimate. This pervasive challenge affects financial institutions and high-risk industries, making Anti-Money Laundering (AML) measures essential to combat it effectively.

Quantifind, a leading provider of risk intelligence solutions for financial crime compliance, made significant advancements in 2024 to empower organisations with cutting-edge investigative tools. Known for its innovative approach, Quantifind specialises in leveraging machine learning and data science to enhance KYC and AML efforts, helping financial institutions detect and mitigate risks effectively.

Money laundering activities in the United States alone are estimated to total $300bn annually. In 2023, penalties for anti-money laundering (AML) violations in the...

According to recent analyses, such as a report from NASDAQ, financial crime continues to funnel a staggering $3.1 trillion through the global financial system annually.

Sanctions screening is an integral aspect of AML practices, ensuring organisations do not inadvertently engage with entities or individuals subject to international or national sanctions, thereby avoiding facilitating unlawful activities.

Corlytics has released its regulatory enforcement data for Q3, showcasing a surge in regulatory actions, record fines, and a stronger emphasis on senior staff conduct.

Napier AI, a RegTech company offering a range of compliance tools and services, has launched its inaugural AI / AML Index, revealing that artificial intelligence could enable global economies to save $3.13trn annually by enhancing the detection and prevention of money laundering and terrorist financing.

In today's rapidly evolving FinTech landscape, the capacity to effectively manage a growing volume of financial transactions is paramount, particularly with the rise in digital transactions.

A new e-book, co-created by Salv, Thistle Initiatives, and We Fight Fraud, offers a deep dive into the mechanics of APP (Authorised Push Payment) fraud, providing readers with a view from the victim’s perspective.

In the realm of financial crime investigation, government officials are inundated with a vast amount of data that demands meticulous scrutiny. Available databases are packed with critical data on beneficial ownership, corporate structures, and various risk indicators, such as those associated with shell companies and financial performance.