Financial Crime

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 […]

In 2016 and 2017, the Panama Papers and Paradise Papers leaks exposed the financial affairs of dozens of multinational companies, politicians, and other high-profile individuals that had been exploiting secretive offshore jurisdictions for decades in order to avoid paying tax […]

Elder financial exploitation: What you need to know An 87-year-old Holocaust survivor is defrauded of his life’s savings in a 6-7 year romance scam. A major drug cartel diversifies its income stream by branching out into timeshare scams targeting seniors. […]

AI and Machine Learning in Financial Crime Technology The fight against money laundering is a huge challenge for financial institutions around the world, and as criminal methodologies grow more sophisticated, so must the AML measures put in place to stop […]

Environmental Crime and money laundering pose a threat to both the natural world and global financial systems, generating billions of dollars per year for criminals all around the world. While it may not have the visible impact of other types […]

Canada has a history of underperformance with respect to following Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) best practices, but the country has consistently improved to close the gap. Based on the findings of FATF’s most recent mutual evaluation, it […]

Money Laundering Through Foreign Exchange Providers  Advances in technology have made moving funds to different parts of the world easier than ever and contributed to the growth in money remittance and foreign exchange service providers. The World Bank reports that, […]

Technology, regulation and the future of financial crimeIn our annual industry report here at ComplyAdvantage, we explore how technology and politics are set to shape financial crime compliance. We identify key AML Compliance trends and issues you need to watch out for in 2020.

Executive Summary We live in an age of crises; ensuring business continuity is no longer a ‘nice to have’ for any firm. It is essential. Financial Institutions in particular are always highly sensitive to the economic disruptions brought by crisis. […]

There has been an expectation that with a cashless society imposed by the global pandemic, the financial crime rate would fall. There was a general belief that at least crime may falter on the physical front as criminals shifted to […]

The illegal wildlife trade (IWT) is a global problem that threatens the survival of many species, from small reptiles and amphibians to large mammals like elephants, rhinoceroses, and tigers. IWT is driven by various factors, including poverty, the demand for […]

Money laundering — the “cleaning” of criminal funds to make them appear legitimate — is big business. According to the United Nations Office on Drugs and Crime (UNODC), the estimated amount of money laundered globally in one year is 2–5% […]