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 ›

Digital Transformation
NFTs are a new way of TBML says top Dutch financial crime investigator
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 ›
Egmont Group and FATF publish digital transformation report for FIUs and other operational agencies
The Egmont Group of Financial Intelligence Units and the Financial Action Task Force (FATF) have jointly published a report on digital tools used by financial intelligence units (FIUs) and other operational agencies. Digital Transformation of AML/CFT for Operational Agencies: Detection… Read More ›