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The Financial Action Task Force (FATF) concluded its sixth and final plenary under the presidency of T. Raja Kumar of Singapore on June 28, 2024. Delegates from over 200 jurisdictions and observers from international organizations gathered in Singapore for three […]

Each year brings a host of consequential new anti-money laundering (AML) regulations, and 2024 is no exception. Various regulators plan a raft of reforms with significant consequences. We’ve selected five key changes for this article – due to the global […]

In regular times, 2023 would have been seen as a busy year in geopolitics. But in the wake of the Russian invasion of Ukraine in February 2022 and the massive Western sanctions in response to it, it seemed relatively quiet […]

Reports

Following a review of its AML/CFT framework, the European Union is preparing to introduce a suite of new regulations that will have significant implications for firms operating in, or doing business with, EU countries.

From managing PEPs to regulating AI, the State of Financial Crime 2024 is packed with insights from our annual survey of 600 senior financial crime decision makers.

Read our guide to discover how organisations are planning to invest in technology in the future – and where they still rely on human expertise to improve their compliance programs.

Insurtech guide cover

Over the last decade, the rapid rise of new digitally-based insurtech firms has disrupted an industry long dominated by a select group of incumbent providers.
Ambiguity around insurtech’s anti-money laundering (AML) and fraud obligations – alongside inconsistent enforcement – has added further complexity.

This new guide aims takes a comprehensive and practical look at the PEP landscape and how firms should navigate it. We also draw on insights from ComplyAdvantage’s high-performing, proprietary PEP database to explore how PEP demographics vary in major economic centers.

Over the last decade, US authorities have expressed concerns about the role played by illicit finance in high-end residential purchases. International bodies such as the Financial Action Task Force (FATF) have also expressed concern. In particular, FATF highlighted real estate agents’ lack of regulatory coverage in the Bank Secrecy Act (BSA), the country’s main AML/CFT legislation.

This guide, written by compliance experts at ComplyAdvantage and Resistant AI, explores the growing regulatory momentum around AI in the United States. It explains existing and proposed federal and state legislation and provides practical tips for compliance leaders looking to ensure their firms keep pace with regulators.

Customer Stories

Allianz Benelux offers life, health, and property insurance for individuals and small to medium businesses (SMBs) in Belgium, the Netherlands, and Luxembourg. The company is part of the global Allianz network – one of the world’s largest insurance companies, with […]

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Knowledge & Training

This article was originally published by UK Finance in July 2024.   In my discussions with compliance leaders across leading financial institutions (FIs) this year, a recurring theme has been managing politically exposed persons (PEPs) and their associated data. With […]

The international sanctions landscape continues to evolve at pace, with new designations constantly coming into effect: the US alone made 2500 additions to its primary sanctions list in 2023. In this ever-evolving environment, financial institutions (FIs) and other regulated businesses […]

In February 2024, the European Parliament issued new regulations to ensure financial transactions reach their recipients instantly across the European Union. The new rules update certain regulatory requirements for banks and other types of payment service providers (PSPs). In addition […]

In 2023, global financial crime generated over $3 trillion, with significant amounts stemming from drug trafficking, human trafficking, and various forms of fraud. With these threats growing in complexity, it’s more important than ever for firms to consider adapting their […]

In Luxembourg, three main national regulatory authorities are responsible for supervising financial products and services: the Luxembourg Ministère des Finances, the Banque centrale du Luxembourg (BCL), and the Commission de Surveillance du Secteur Financier (CSSF).  This article focuses on the […]

Corporate screening is an essential process for ensuring the safe provision of financial services to other businesses. Choosing the right corporate screening solution requires a comprehensive understanding of the process’ objectives and inherent challenges. This article will cover: How corporate […]

While regulated financial institutions are all required to have some form of politically exposed person (PEP) screening software, finding a solution that aligns with a business’ specific needs, risk profile, and diverse customer base can be daunting. Senior decision-makers must […]

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