AML compliance Knowledge & training Automating AML/KYC for digital assets Automating and enhancing AML/KYC compliance for digital assets The Know Your Customer (KYC) process is a fundamental component of anti-money laundering regulations in jurisdictions around the world. However, with the rise of disruptive blockchain technology and increased global use of […] 6 minute read
AML compliance Reports AFC Highlights 2020 A Year in Review: 2020 AML & Anti-Financial Crime Highlights As we close the books on 2020, we look back on an intense year of sanctions, designations, money laundering, cyber crime, fraud and the key trends in AML & anti-financial […] 1 minute read
AML compliance Knowledge & training Free Ports and Money Laundering Risks Free Ports, Free Trade Zones and Money Laundering Risks Free ports and free trade zones (FTZ) are special-status areas in which the tax and customs rules that are applicable within the surrounding jurisdiction do not apply. Usually established to stimulate […] 6 minute read
AML compliance Knowledge & training AML/CFT Risks In the new normal of payments, what are the top AML risks? Have AML/CFT risks been impacted by COVID-19? Apart from being a massive public health crisis, COVID-19 is also sounding the death knell for cash. During the peak of […] 7 minute read
AML compliance Knowledge & training AML in Austria: FMA AML in Austria: Regulations and compliance Austria is one of Europe’s major financial hubs, attracting a range of commercial business interests and offering financial services to customers from all over the EU and the world. The primary financial regulator in […] 5 minute read
AML compliance Knowledge & training Shell companies and money laundering: How to mitigate risks Shell companies and their money laundering risks are a perennial concern for financial institutions (FIs). While not illegal outright, criminals often use shell companies to disguise illegal assets and introduce them into the legitimate financial system. When onboarding businesses as […] 8 minute read
AML compliance Art trade Knowledge & training 5AMLD and the Art Trade The European Union’s Fifth Anti Money Laundering Directive (5AMLD) came into force across all member states on 10 January 2020. The directive set out a range of requirements and amendments to EU AML legislation, including the introduction of a legal […] 4 minute read
AML compliance Knowledge & training Russian Risks: Valuable Watchlists to Monitor It’s no secret that fighting financial crime depends on knowing your customers. Yet current AML/CFT regulations provide merely a starting point for this. The emphasis regulators place on taking a risk-based approach leaves much to an individual financial institution’s best […] 6 minute read
AML compliance Knowledge & training How to choose an AML software vendor From designated non-financial businesses and professionals (DNFBPs) to virtual asset service providers (VASPs), the breadth of firms subject to anti-money laundering (AML) regulations is greater than ever. Moreover, the regulations themselves – and the criminal activities they’re designed to detect […] 7 minute read
AML compliance Knowledge & training How to reduce false positives in AML As part of their regulatory compliance obligations, banks and other financial institutions (FIs) must develop and implement risk-based AML programs to counter the money laundering and terrorism financing threats they face. After performing risk assessments on their customers, firms should […] 7 minute read
AML compliance Crypto Knowledge & training Crypto AML red flags Crypto exchanges and wallets: AML red flags As the use of cryptocurrency becomes more widespread, cryptocurrency service providers must deal with a greater range of threats from money launderers that exploit the speed and anonymity associated with the online trade […] 9 minute read
AML compliance Digital banks Knowledge & training Broker dealers and AML Broker dealers are individuals or firms that buy and sell securities for their own account or on behalf of their customers. Since they deal with large sums of money and a range of financial instruments, and engage in frequent transactions […] 6 minute read
