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.Read more
New survey: How to optimize tech and talent investments
A comprehensive guide to the US Anti-Money Laundering Act (AMLA), the most significant AML legislation passed by Congress in decades.
Despite the war in Ukraine and the ongoing pandemic, the EU has other pressing policy issues on its collective mind in 2022, of which AML/CFT reform is amongst the most important.
This article explores the latest sanctions on Russia imposed by the US, EU, UK and others, alongside our best practice recommendations for firms on how to ensure they’re compliant.
2023 saw financial crime risk professionals contend with increasing geopolitical turmoil, economic volatility, and rapidly changing criminal behavior. In 2024, with more than 40 national elections, a growing focus on terrorist financing, and continued technological development, these issues – and […]
Following October’s plenary, the Financial Action Task Force (FATF) issued new guidance relating to cyber-enabled fraud (CEF). In the report, the global watchdog analyzed how the cyber fraud landscape has evolved, its links to other crimes, and how criminal syndicates […]
On November 7, 2023, additional members of a multi-million dollar health care fraud and money laundering conspiracy were indicted after generating over $500 million in fraudulent prescriptions. Led by defendant Brian Michael Sutton, the criminal group allegedly used their pre-existing […]
Judicial authorities in the European Union (EU) are increasing their joint efforts to combat terrorism by sharing a wider range of information on terrorism cases with Eurojust. Following an amendment to the Eurojust Regulation on October 31, 2023, EU Member […]
On November 2, 2023, the Financial Crimes Enforcement Network (FinCEN) organized a public-private dialogue focusing on the use of convertible virtual currency (CVC) to finance terrorist activity. Officially called a FinCEN Exchange, the event consisted of presentations by FinCEN and […]
During a recent interview with CNA (formerly Channel NewsAsia), managing director of the Monetary Authority of Singapore (MAS) Ravi Menon expressed a strong interest in exploring the full potential of artificial intelligence (AI) in the fight against money laundering. At […]
On October 24, 2023, the Australian Transaction Reports and Analysis Centre (AUSTRAC) reminded reporting entities to enroll with the regulator before November 9 to avoid receiving a financial penalty. For each day a firm remains unenrolled after this date, it […]
According to the latest figures published by UK Finance, fraud remains one of the most common crimes in the UK. Criminals are using social engineering tactics to target their victims, including impersonating businesses and creating fake investment ads, as well […]
The fourth Financial Action Task Force (FATF) plenary under the two-year Singapore Presidency of T. Raja Kumar took place at the FATF headquarters in Paris on October 25-27, 2023. We’ve summarized the key developments – read on or click below […]
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.
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.
If there’s one area of financial crime that best encapsulates the problem today’s compliance leaders face, it’s payment fraud. Volumes are rising – the value of payment fraud is set to soar to more than $40 billion by 2027.
As the financial crime and geopolitical landscape grows more complex, how are firms investing to improve transaction screening processes and manage risk?
Explore the trends, challenges, and opportunities impacting how firms establish and maintain adverse media screening.
Technology and talent are critical to any effective financial crime risk management program. But in a competitive labor market where budgets are under pressure, how can compliance leaders ensure they invest limited resources efficiently?
Founded in 2014, Banxa is a leading infrastructure provider enabling businesses to embed cryptocurrency infrastructure into their platforms. Having processed billions of dollars in transactions, Banxa plays a vital role in onboarding companies and users to crypto through an extensive […]
Atlanticus is a technology company that enables banks, retailers, and healthcare providers to offer more inclusive financial services including loans and credit cards. A core part of Atlanticus’ business portfolio is the two credit card brands it supports, Aspire and […]
An investment company aiming to help everyone invest simply and affordably, Freetrade partnered with ComplyAdvantage to conduct ongoing customer screening. The firm is authorized by the UK’s Financial Conduct Authority (FCA) and the Swedish Financial Supervisory Authority (FSA), and its […]
Specializing in international cash management solutions, financial services company Ebury partnered with ComplyAdvantage to build a fit-for-purpose transaction monitoring (TM) rule set that could keep pace with the company’s rapid growth. Ebury is fully regulated in 21 countries and offers […]
E-money institution (EMI) Payset offers diverse payment solutions, from multi-currency accounts and B2B wallets to currency exchanges and – soon – debit cards. Established in 2018, the company aims to bring financial services up to speed with modern business requirements […]
By tailoring screening to their risk-based approach and safely whitelisting false alerts at onboarding, Holvi has cut the time they spend remediating false positives in half.
With a growing, diverse customer base covering global accounting giant BDO Global, consumer skincare brand Dermalogica, and startup incubator Stone & Chalk, Paytron needed a solution that could scale with its user base.
Alviere, an embedded finance platform, helps non-financial institutions provide their customers with integrated financial products. It needed a solution to improve operational efficiency and streamline productivity within its compliance department.
PingPong needed a solid solution to streamline its due diligence checks to meet its compliance obligations across many different jurisdictions and build trust with its new and expanding customer base.
What is a Money Laundering Reporting Officer (MLRO)?
A Money Laundering Reporting Officer (MLRO) is a person responsible for implementing and overseeing a company’s anti-money laundering (AML) compliance program. The duties of the MLRO may involve serious legal consequences that result in civil and criminal action. Money Laundering […]
Knowledge & Training
Sanctions screening helps banks prevent sanctions violations by screening customers and their transactions for sanctions list matches. This allows them to remain compliant with international sanctions, avoid penalties, and help protect the national security of the countries in which they […]
If you’ve found this article, the chances are you’re looking for: Adverse media screening software to reduce your reliance on manual processes when onboarding and monitoring customers. . A way to quickly compare the top available solutions. A straightforward list […]
As insurtechs grapple with managing their rapid expansion, one important question relates to their financial crime compliance obligations. This can be challenging for insurtechs as they consider their growth agenda – What should be prioritized? How will regulations change? What […]
Although insurtechs bring innovation, efficiency, and convenience to the insurance market, they are not exempt from the critical need to address financial crime risks and regulatory requirements. Customers expect an efficient, automated experience from online-first organizations like insurtechs, which means […]
Like other member countries of the Financial Action Task Force (FATF), Australia’s KYC requirements comprise a core part of the country’s anti-money laundering and combatting terrorist financing (AML/CTF) regime. Australia’s KYC requirements are aligned with the FATF’s standards, ensuring firms […]
Multiple types of fraud have a nexus with the real estate sector, but most involve a combination of impersonation and the use of false information. With economic volatility and geopolitical uncertainty fuelling a rise in financial crime, real estate fraud […]
If you’ve found this article, the chances are you’re looking for: A transaction monitoring solution that’s scalable, efficient, and powerful. A way to compare leading providers and their offerings. A straightforward list of features and use cases. This article summarizes […]
In our 2023 State of Financial Crime report, 99% of senior compliance professionals said they use AI to enhance transaction monitoring. Yet deficient technology is still contributing to inadequate financial crime risk management. For example, in August 2022, New York’s […]
The US real estate sector is one of the largest in the world, with an estimated value of $113.6 trillion in 2023. As such, its unsurprising that US authorities have expressed concerns about the role of illicit finance in high-end […]