Increased enforcement efforts are shining a spotlight on anti-money laundering (AML) sanctions compliance. Firms increasingly must elevate their game to keep pace with regulators’ demands while still providing their customers with exceptional service — which means fast and frictionless service. […]
Our focus at ComplyAdvantage has always been to ease the operational burden of AML compliance for our users, by offering a suite of configurable cloud solutions that leverage real-time risk insight. As we move forward, we thought it was about […]
How to Comply With AMLA Malaysia Malaysia is a regional and global political power with the third-largest economy in Southeast Asia, following Indonesia and Thailand. Attracting business interests from across the world, and with high investment in the technology and […]
Financial crime units (FCUs) help banks and financial institutions detect and prevent money laundering, the financing of terrorism and a variety of other financial crimes while meeting their regulatory compliance obligations more effectively. In a rapidly changing financial sector, criminals […]
Vendor due diligence (VDD) is the process of evaluating a vendor’s financial crime risks before entering into a business relationship with it. Working with third-party vendors is an essential operational element in many sectors, from established financial institutions (FIs) partnering […]
Social media has become one of the most powerful drivers for terrorist funding, and it’s set to stay that way. In part one of this blog on the impact of social media, we discuss the impact that social media platforms […]
The Financial Action Task Force (FATF) Travel Rule is an important piece of anti-money laundering and countering the financing of terrorism (AML/CFT) guidance. It states that virtual asset service providers (VASPs) should collect information on transaction senders and receivers. As […]
De-risking in AML: Strategies and alternatives In an era of increased regulatory scrutiny and expectation, and as AML failures result in high-profile financial penalties, banks and financial services firms around the world seek to mitigate the threats they face and […]
The Vancouver Model is a method of money laundering that is highly used in Vancouver, British Columbia. The model uses casino gambling as a way for foreign and domestic criminals to launder illegitimate funds and exploits Canada’s traditionally lax regulatory […]
The California Consumer Privacy Act (CCPA) was signed into law on June 28, 2018, by the California State Legislature and introduces sweeping new privacy laws to protect the personal data of California’s residents. Also known as the California Privacy Act, […]
Crimes that generate significant financial proceeds, such as theft, extortion, and drug trafficking, almost always require a money laundering component so criminals can avoid detection by authorities and use their illegally obtained funds in the legitimate economy. Given the regulatory […]
As part of customer due diligence, financial institutions verify their customers’ identities and examine contextual information to establish whether they present a higher money laundering risk. That information might include the customer’s political status, references to them in negative news […]
