Demystifying blockchain: what it means for KYC

Hardly a day goes by without a news item concerning the use of cryptocurrencies for money laundering. In June the Financial Action Task Force (FATF) told countries to tighten oversight of cryptocurrency exchanges amid growing concern among international law...

Sanction Screening the Intensive Care Patient…Innovation the Cure!

However, minor the task of sanction screening or name filtering sounds it contributes to a significant amount of false positives and is a time consuming task that leaves less time for other AML patients. And in today’s environment of tighter AML regulations,...

Artificial intelligence: Reducing the AML Compliance Burden

How did we get here? Since 9/11 financial institutions have made enormous investments in their anti-money laundering compliance programmes, but they are still faced with manual processes and complexities in complying with financial crime regulations. “One would be...

“FinCEN Finalizes Customer Due Diligence Rule Amid Other Actions to Enhance Financial Transparency”

"In the wake of the Panama Papers controversy, the U.S. government has taken major steps this month to promote financial transparency. First, the Financial Crimes Enforcement Network (FinCEN) finalized its proposed rule issued in July 2014 (see client alert, “FinCEN...

Canadian Banks’ Money-Laundering Controls Failed

  "Canada’s top banking regulator has found money-laundering controls at the country’s banks failed on numerous occasions, according to a document obtained by The Wall Street Journal. Between 2009 and 2014, the Office of the Superintendent of Financial...
The Global Laundromat

The Global Laundromat

Transparency campaigners dismayed at clean bill of health for UK government On Friday, 7 December the Financial Action Task Force (FATF), a G7...

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