Digital financial crime platform Themis has announced a new strategic partnership with UK-based Diligencia, which provides corporate intelligence and due diligence solutions in the Middle East and Africa. Themis, which operates out of the UK and the UAE, uses advanced… Read More ›
The UK’s Financial Conduct Authority (FCA) has fined Santander UK nearly £108 million (US$133 million) for repeated anti-money laundering (AML) failures. The regulator of financial services firms and financial markets in the UK says it found “serious and persistent gaps”… Read More ›
Paris has officially announced its bid to host the new European Anti-Money Laundering Authority (AMLA) and its staff. The French capital is already home to the Financial Action Task Force (FATF) and the European Banking Authority (EBA), and the city’s… Read More ›
Banks in the UK are spending £30 billion (US$34 billion) annually complying with anti-money laundering (AML) regulation, with three-quarters of budgets spent on people and only a quarter spent on technology according to a survey commissioned and published by LexisNexis Risk… Read More ›
The World Customs Organisation (WCO), Egmont Group of Financial Intelligence Units (FIUs) and Interpol have successfully concluded their first anti-money laundering and counter financing terrorism financing (AML/CTF) joint investigation in the Western Hemisphere. Operation Tentacle-Latin America revealed extensive illicit movements… Read More ›
Traditional forms of control that banks and institutions have on financial flows and services cannot be used to combat emerging money laundering and terrorist financing risks related to virtual assets according to the Council of Europe’s anti-money laundering and counter… Read More ›
Analytics, software and solutions provider SAS has been named a RiskTech Quadrant Category leader in trade-based anti-money laundering (TBAML) by Chartis, which provides research and analysis on the global market for risktech and fintech. The SAS solution combines data extraction, data… Read More ›
The International Federation of Accountants (IFAC) and the Institute of Chartered Accountants in England and Wales (ICAEW) have produced an instalment on financial crime trends for their Anti-Money Laundering: The Basics educational series. It looks at the trends in criminal activity that underpin… Read More ›