What is FinCEN? The Financial Crimes Enforcement Network (FinCEN) is the United States’ primary financial regulator and a bureau of the Department of the Treasury. Working with state and federal law enforcement authorities, FinCEN is responsible for supervising financial institutions […]
FATF and the Prevention of Financial Crime The Financial Action Task Force, or FATF, is one of the most influential and important organizations in regard to combating financial crimes such as money laundering, terrorist financing, and other forms of corruption. […]
How electronic identity verification helps fight financial crime As criminals develop increasingly sophisticated methodologies to launder money, commit fraud, and fund terrorist activities, demand for effective AML/CFT software grows. Financial crime is a global threat meaning that banks and financial […]
Money laundering and terrorist financing (ML/TF) pose a substantial threat to governments and financial institutions. Over the past few decades, increasing measures have been taken across the globe to counter them. In 2022, the EU moved forward in its bid […]
To address violations of international law, human rights abuses, and other forms of state-sponsored crime, governments may impose economic sanctions against designated targets around the world. Sanctions cover a range of financial restrictions and prohibitions and are often deployed to […]
The Office of Foreign Assets Control (OFAC) is responsible for creating, implementing and enforcing the United States’ sanctions. All parties under US jurisdiction must abide by OFAC sanctions and associated regulations and avoid OFAC sanctions violations. Exemptions to sanction orders […]
One of the ways the US punishes violations of international law, human rights abuses, and other state-sponsored criminal activities is by imposing economic sanctions against countries, entities, and individuals. The OFAC sanctions regime is implemented and enforced by a dedicated branch of […]
This guide will outline the UK sanctions post-brexit regulations and inform you of what you need to know to ensure you are complying with the renewed sanction laws. Sanctions in the UK fall under the authority of several different departments. […]
Financial crime is a significant ongoing challenge for banks, institutions, and individuals. As regulators and financial authorities introduce new strategies to detect and prevent financial crime, criminals develop more sophisticated methodologies to evade legal scrutiny and commit offences, including fraud, […]
Anti-money laundering guidance Various government agencies and interest groups publish information regarding anti-money laundering. Australia: Australian Government – Trade-based money laundering: Risks and regulatory responses UK: HMRC Guidance for Money Service Businesses US Treasury: Office of Foreign Assets Control (OFAC) […]
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