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Why digital hawala challenges bank AML controls
Financial crime teams face a growing challenge as traditional informal value-transfer networks adapt to digital payments, creating new complications for anti-money laundering (AML) monitoring...
Singapore’s COSMIC expansion puts banks’ AML controls to the test
Singapore’s plans to expand COSMIC, its collaborative financial crime information-sharing platform, are bringing the strength of banks’ internal anti-money laundering (AML) systems into focus....
Mule chains expose blind spots in single-account AML monitoring
For compliance teams, identifying the first account to receive fraud proceeds is only one part of the investigation. Money stolen through scams, account takeovers...
Refund abuse is becoming an AML compliance issue
Regulated firms are facing growing pressure to look beyond individual chargebacks and refunds and consider what these activities reveal about wider financial crime risk....
AML automation: where compliance needs humans
Financial institutions are increasingly using automation to manage growing AML workloads, but RegTech provider ZIGRAM argues that more automation does not necessarily mean better...
Why Fraud-as-a-Service is putting AML under pressure
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...
UK AML strategy shifts focus towards intelligence-led compliance
The UK government has outlined a three-year strategy to strengthen its approach to money laundering, placing greater emphasis on intelligence-led supervision, data sharing and...
Why sanctions screening can miss hidden AML risk
Financial institutions have access to increasingly sophisticated sanctions and politically exposed person (PEP) screening tools, but these checks cannot capture every development that could...
How film finance can expose money laundering risks
The complexity of film financing is creating additional challenges for financial crime teams as money moves through special purpose vehicles (SPVs), cross-border deals and...
Account takeover fraud exposes gaps beyond authentication
Account takeover fraud is becoming a more difficult threat for financial institutions to identify as criminals find ways to operate using genuine customer credentials....
