AML Compliance

Anti-money laundering (AML) red flags are changing. What should compliance teams be looking for, and how do these risks vary by industry? 

Being aware of the conditions that increase the likelihood of a customer’s involvement in money laundering (ML) or terrorist financing (TF) is a responsibility that financial institutions cannot take lightly. The absence or inadequacy of robust ML/TF risk management programs […]

Over the last few years, the financial services landscape in Australia has seen significant change. However, one constant is the strong emphasis on anti-money laundering and combatting the financing of terrorism (AML/CFT) by the regulators. 

Under the AML/CTF Act 2006, designated businesses must meet four key obligations that reflect the private sector obligations set out by the Financial Action Task Force (FATF).

As a long-term member of the Financial Action Task Force (FATF), Australia’s anti-money laundering and combatting the financing of terrorism (AML/CFT) regulatory framework seeks to align with the recommendations laid out by the agency. 

Home to one of the world’s most dynamic FinTech industries, Australia has witnessed dramatic growth throughout the sector in recent years due to spikes in investor funding and consumer digital adoption.

Banks need a new approach to detecting financial crime. This hands-on guide explores how AI can be deployed in transaction monitoring systems today, improving alert remediation and helping compliance teams better identify networks of illicit activity.

The AML/ATF ecosystem shapes FinTech’s regulatory responsibilities in Canada. This infographic spotlights five responsibility and opportunity areas for Canadian FinTechs, including registering with FINTRAC and submitting STRs.

Despite the war in Ukraine and the ongoing pandemic, the EU has other pressing policy issues on its collective mind in 2022, of which AML/CFT reform is amongst the most important.

Lumon has provided overseas payments and foreign exchange services to private individuals, small-to-medium enterprises (SMEs), and larger corporates for over two decades.

FRAML is an umbrella term for fraud and anti-money laundering. It reflects the growing focus on how the two are converging and the benefits of an integrated approach to detecting money laundering and fraud for fighting financial crime. Money laundering […]

As FinTechs grow and acquire more customers, their AML/CTF programs must also mature. The firms best set up for success are those with scalable solutions and a sound understanding of AUSTRAC’s expectations of the firms it regulates. This guide provides hands-on tips and best practices for any FinTech looking to scale in Australia.