When it comes to the rapid expansion of financial technology (fintech), Asia-Pacific (APAC) is leading the way. As economic integration and private sector innovation increase, many countries throughout the region are experiencing growth and regulatory reform across various verticals of […]
The former CEO of Swedbank has been charged with fraud and market manipulation following investigations into money laundering in the Baltics. If convicted she could face up to six years in prison. Birgitte Bonnesen was chief executive of Sweden’s oldest […]
Following the announcement that the next President of the Financial Action Task Force (FATF) will be Singaporean T Raja Kumar, we take a closer look at what this may mean for the FATF’s priorities during his tenure. To do this, […]
Digital payments are growing at an annual rate of 12.7% and are projected to reach 726 billion transactions in 2020. As payment technology goes digital, money laundering methodologies are also changing. To manage those new threats, many financial institutions are […]
A top executive at Malaysia’s central bank has warned that increasingly sophisticated financial tools and products are creating new and growing challenges for the country’s anti-money laundering, combatting the financing of terrorism and proliferation financing (AML/CFT/PF) measures. Bank Negara Malaysia […]
The US Treasury’s Financial Crimes Enforcement Network (FinCEN) has proposed new measures to allow banks to share suspicious activity reports (SARs) more easily with foreign branches, subsidiaries and affiliates. In a Notice of Proposed Rulemaking (NPRM) FinCEN has asked for […]
Challenger banks need to improve how they assess financial crime risk, with some failing to adequately check their customers’ income and occupation. Others do not have adequate risk assessments in place for customers, the UK’s Financial Conduct Authority (FCA) has […]
What is The OCC – Office of The Comptroller of the Currency? An independent bureau of the US Treasury, the Office of the Comptroller of the Currency (OCC) is a regulatory organization which oversees the federal banking system of the […]
The Thistle Initiatives Group is an award-winning compliance consultancy that provides financial services firms with expert compliance resources and capabilities to manage projects across all regulatory areas. Head of Payment Services and Financial Crime Prevention, Heather O’Gorman, has extensive experience […]
The International Monetary Fund (IMF) has published a new technical note assessing the state of banking, the microfinance sector and non-financial corporates (NFCs) in the Philippines. In it, the IMF highlighted certain economic activities, such as those practiced in casinos, […]
The Bangko Sentral ng Pilipinas (BSP) has issued guidance for central bank-supervised financial institutions (BSFIs) on conducting institutional risk assessments (IRAs). In addition to setting out firms’ regulatory obligations, the paper offers practical guidance on identifying, analyzing, and understanding the […]
Uncover the journey Félix has taken in leveraging crypto to improve remittance corridors, something that has historically been far from user-friendly or resource-efficient.
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