As financial crime evolves, so do the methods financial institutions use to detect and prevent it. Many implement anti-money laundering (AML) solutions that employ cloud computing technology — and for good reason. Handling AML in the cloud offers companies a […]
In recent years, government bodies have become quick to impose, lift or modify sanctions — sometimes within a few days’ or weeks’ time — to pursue their own interests. At the same time, the global economy requires a nuanced approach and, […]
While politically exposed person (PEP) status does not predict criminal behavior, the risk exposure that it brings means that financial institutions must apply additional AML/CFT measures when establishing a business relationship and conduct ongoing monitoring to ensure that they capture […]
6 Things You Should Know About AML France Regulations As one of the world’s largest economies, France plays a prominent role in the fight against financial crime and imposes strict money laundering and counter financing of terrorism regulations on its […]
7 tips to help FinTechs comply with anti-money laundering in Singapore Singapore is one of the world’s busiest and most innovative commercial hubs and a destination for banks and financial services businesses around the world. Given that status, anti money […]
As anti-money laundering (AML) controls evolve, criminals find new ways to transform the financial proceeds of crime into legitimate funds. One of the most prevalent global money laundering strategies is to exploit the vulnerabilities of cross-border trade via trade based […]
It’s been a bumper week at the ComplyAdvantage offices. We were at three different award ceremonies across two dates. For a memorable fireworks night, we were at The Sunday Times Tech Track 100 Awards for 2019. We were honored and […]
USA Patriot Act: BSA Compliance and Section 314 The USA Patriot Act was passed by Congress on 26 October 2001 as a response to the September 11 terror attacks. The Patriot Act gave law enforcement agencies across the United States […]
When financial institutions detect suspicious transactions, it is their duty to report them to the authorities. This is done in order to prevent potential criminal behavior, such as money laundering or the financing of terrorism. In most countries, the reporting […]
Canada’s AML regulations require banks and financial institutions to check whether their clients are a Politically Exposed Person in Canada (or elsewhere) in order to build accurate risk profiles and comply with legislation. PEP screening is required by regulatory authorities […]
What Are RCAs: Relatives And Close Associates? As part of their customer due diligence obligations, banks and financial institutions must establish whether their clients are Politically Exposed Persons (PEP) and at risk of being involved in financial crimes, like money […]
Adverse Media: Regulations And Recommendations Running adverse media screening isn’t just a question of protecting your company from reputational damage, or building a helpful image of a client’s risk profile: it’s also a regulatory requirement of financial authorities around the world. […]
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