Quantexa, a London-based fintech providing decision intelligence solutions to help banks, insurers and government organisations to make sound decisions, has been recognised as a category leader for trade-based anti-money laundering solutions (TBAML) in the Chartis RiskTech 100 report. Chartis, which… Read More ›
Tough law enforcement used by EU countries to tackle easier to detect types of financial crime may be fuelling trade-based money laundering (TBML), according to research published in the journal, Applied Economics. Estimates of Trade Based Money Laundering within the European… Read More ›
The Wolfsberg Group has published guidance on artificial intelligence and machine learning (AI/ML), which the association of 13 global banks believes can have, and are already having, a significant impact on improving the effectiveness and efficiency of financial crime compliance… Read More ›
Nearly a decade after the Financial Action Task Force (FATF) introduced requirements for National Risk Assessments (NRAs) of money laundering and terrorism financing (ML/TF) risks, the international community is at the right point to review the past 10 years and… Read More ›
A new policy brief published by the Brookings Centre on Regulation and Markets has a clear focus on anti-money laundering (AML) compliance and suggests that banks, regulators, and law enforcement authorities are spending time and money chasing down potential leads… Read More ›
Illicit financial flows (IFFs) in the EU’s Eastern Partnership (EaP) region, can be estimated at around €29 billion (US$31 billion) every year according to a new study released by the EU and the UN Interregional Crime and Justice Research Institute…. Read More ›
Non-fungible tokens (NFTs), the financial securities consisting of digital data stored in a blockchain, can be used in trade-based money laundering (TBML) operations according to Niels Obbink, chief and general director of the Fiscal Information and Investigation Service, the Dutch… Read More ›
Trade-based tax evasion and money laundering cost the US government more than US$640 billion in taxable income during 2021 according to a new report commissioned by Sēk Strategies, a Washington-based consultancy firm focused on transparency, accountability, human rights and the… Read More ›