Banks in Australia have been praised by the Australian Transaction Reports and Analysis Centre (AUSTRAC) for improving their compliance programs to more effectively tackle money laundering, organized crime, tax evasion, and welfare fraud. AUSTRAC said that it is now better […]
State of Financial Crime 2023 Report
The US real estate market faces increasing regulatory scrutiny, with Treasury regulator FinCEN calling for public comment on its plans to root out money laundering and corruption in the sector, particularly through all-cash deals. The advance notice of proposed rulemaking […]
It has been estimated that 100bn euros is laundered by criminals in Germany every year. Whatever the true scale, this figure doesn’t just include the well-publicized examples of large-scale transactions moving through international banks. It also refers to the proceeds […]
The flexibility in the tool’s parameters allowed ROBOCASH’s compliance team to configure their screening and monitoring approach to reduce false positives and make quicker decisions on clients.
The speed and ease of integration allowed Finiata to start managing their risks more quickly and efficiently.
Why is P2P Money Laundering Becoming More Prevalent? Advances in fintech have allowed for the development and widespread uptake of a variety of online financial services, including peer-to-peer lending and crowdfunding, both of which have grown to represent multi-billion dollar […]
As banks and non-bank financial institutions explore new, innovative methods with which to deliver financial services, digital lending has emerged as an opportunity for those organizations to loan money faster and more efficiently. Digital lending is essentially the use of […]
PEP Red Flags: Detecting Misuse Of The Financial System Many uncertainties and misunderstandings surround politically exposed persons, or PEPs. Classifying a client as a PEP is not an aim in itself; rather, it forms part of the process that enables […]