Collaboration between public sector agencies and reporting entities such as banks can significantly enhance the effectiveness of measures to counter financing of terrorism according to the International Monetary Fund’s (IMF’s) recently published book on counter terrorism financing frameworks (Trade-based Financial… Read More ›
TradeSun, an artificial intelligence (AI) platform for financial crime prevention and compliance in trade, has launched a real-time offering to detect and intercept financial transactions involving dual-use goods from Russia and Belarus, as well as vessels entering sanctioned areas amid… Read More ›
Thomson Reuters has launched CLEAR Global Beneficial Ownership (GBO), a new product that aims to enable organisations to quickly understand the ownership and control of international corporate entities and help them find global business registry information. The launch coincides with… Read More ›
The world’s largest art trade federation is leading the call for a fundamental international review of policy making after a recent report commissioned by the US treasury department indicated that money laundering and terror finance risks associated with shell companies… Read More ›
New research conducted by RegTech NICE Actimize and Regulation Asia, suggests that countering financial crime could move beyond well-used tools such as suspicious transaction monitoring and sanctions screening and focus on high risk areas, including trade-based financial crime. Other areas… Read More ›
Sophisticated modern tools such as blockchain and artificial intelligence offer opportunities to see and analyse information and root out illicit trade according to a US senator who for years has been calling for more action to curb trade-based money laundering… Read More ›
“The African Legal Support Facility (ALSF) must assist African countries to negotiate fair and balanced contracts to eliminate opportunities for illicit receipt, use, or transfer of funds,” says former president of South Africa and current chair of the African Union’s… Read More ›
The European Commission has presented an ambitious package of four legislative proposals to strengthen the European Union’s (EU’s) anti-money laundering and counter financing of terrorism (AML/CFT) rules, which includes the creation of a new EU authority to fight money laundering… Read More ›