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The State of Financial Crime 2024: Download our latest research

Digital Bank

CDD in banking

In order to meet the demands of AML/CFT regulations, banks must implement suitable Know Your Customer (KYC) measures in order to understand who their customers are, and the nature of the business in which they are involved. With that requirement […]

Transaction Monitoring Banks

In an evolving financial landscape, new criminal methodologies and regulatory obligations change firms’ compliance obligations regularly. In order to detect and prevent money laundering in that regulatory environment, banks must work to understand their customers’ financial activity by implementing a […]

Digital banks don’t face fundamentally different typologies or risk profiles to other financial institutions. However, their digital-first approach, rapid growth rate and focus on seamless onboarding can make them appealing targets for money launderers. Here, we explore the top typologies […]

Regulated financial institutions around the world follow a similar process when it comes to reporting suspicions of money laundering via Suspicious Activity Report (SAR) disclosures to their regulator or law enforcement. However, there may be some deviation in how the […]

The Australian Transaction Reports and Analysis Centre (AUSTRAC) has released a new guide aimed at tackling the increasing misuse of transaction payment text fields by criminals. The guide, Preventing misuse and criminal communication through payment text fields, aims to raise […]

AML for digital banks

Banks offering digital-first services are redefining how consumers worldwide access and interact with their money. This guide explores how digital banks can successfully build and scale an AML program.

BaFin put N26 on warning once again for their lax anti-money laundering controls, according to an announcement made by the German regulator on Tuesday, May 11. The digital bank has been ordered to “rectify deficiencies both in IT monitoring and […]

US challenger banks compliance: American flag on pole

In a changing financial landscape, challenger banks are disrupting the space occupied by traditional banks and financial institutions by offering an array of innovative digital services delivered online. In the United States, recent uptake of challenger bank services has been […]