Tag: Risk-based approach

The concept of risk-based approaches (RBAs) has become central to financial crime compliance worldwide. According to Arctic Intelligence, unlike rigid, rule-based systems, RBAs allocate...

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institutions are still holding onto legacy anti-money laundering (AML) systems, opting to layer new technology over outdated infrastructure rather than starting afresh.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...

In today's financial landscape, AML transaction monitoring is key for protecting the integrity of financial institutions and the global financial system.

Balancing a seamless customer onboarding experience with stringent compliance measures can be challenging. RelyComply, an intelligent AML compliance platform, recently outlined strategies and best practices to streamline the KYC/CDD process, helping businesses navigate anti-money laundering (AML) regulations while enhancing customer satisfaction.

The relentless advancement of artificial intelligence (AI) in banking is a game-changer in the ongoing war against financial crime. Financial institutions of every size are turning to AI to bolster their anti-money laundering (AML) capabilities.

Visium Technologies, a leading global cyber security and analytics company, has announced the signing of a 3-year $2.5m revolving credit line agreement.

The FinTech landscape is increasingly gravitating towards perpetual know your customer (KYC) protocols. As part of this evolution, the operational pillars are rapidly transforming. Graham Bailey, COO of Quantifind, and Brian Kindle, VP of product development at ACFCS, shed light on this shifting terrain in a new podcast on the foundational elements of perpetual KYC.

Taking a risk-based approach during the due diligence process is often perceived as purely cost. It’s also something that will always be asked for by regulators, and costs are continuing to increase whenever there are new clients.