All Financial Crime articles – Page 12
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AnalysisIntegrating AI into AML strategic transformation
The rise of AI will provide new opportunities for visionary leaders to transform their Anti Money Laundering strategies, write Sha Ali and Sabah Hussein
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NewsEU plans to ban cash payments above €10,000 in AML move
The European Commission is preparing to prohibit cash transactions of €10,000 or more as part of new anti-money laundering measures.
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NewsPakistan to work towards meeting FATF’s AML conditions
The Pakistani government is to bring in a swathe of new rules and procedures with the goal of ending its three years on the Financial Action Task Force’s grey list which subjects it to increased monitoring.
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NewsGRC World Forums launches TV-style weekly broadcast
A new TV-style weekly digital broadcast to inform the industry of the latest governance, regulation and compliance (GRC) developments and featuring topical insight from thought leaders launches today.
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NewsEuropean Banking Authority outlines plans for a centralised AML/CFT database
The European Banking Authority (EBA) has published a consultation paper on plans for an anti-money laundering (AML) and counter terrorism financing (CTF) centralised database in the European Union.
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NewsCouncil of Europe criticises Romania for inadequate anti-corruption measures
Romania’s compliance with Council of Europe recommendations to tackle corruption among members of parliament (MPs), judges and prosecutors remains unsatisfactory, according to the 47-member human rights organisation.
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NewsSwedbank fined by stock exchange for AML failings
Swedbank has been fined a total of $5.5million (SEK46.6m) by Nasdaq Stockholm’s disciplinary committee for historical AML (anti-money laundering) failures.
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NewsDozens arrested and 800 officers deployed in major anti-mafia operation in Europe
A total of 31 people have been arrested in a major operation against international drug trafficking and money laundering which saw the deployment of 800 police officers and tax officials.
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NewsNorway’s largest lender fined $48 million over AML failings
Norwegian bank DNB ASA has been fined 400 million Norwegian Kroner ($48.1 million) for failing to adequately comply with anti-money laundering requirements,
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NewsTurkey brings cryptocurrency firms under AML/CFT rules
Cryptocurrency exchanges are now included in Turkey’s anti-money laundering and counter terrorism (AML/CFT) financing regulations.
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NewsBaFin tells Deutsche Bank to improve AML safeguards
Germany’s financial regulator has ordered Deutsche Bank to do more to improve its anti-money laundering safeguards.
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NewsNew Zealand told to improve availability of beneficial ownership information
The Financial Action Task Force (FATF) has told New Zealand told to strengthen its anti-money laundering (AML) and counter terrorism financing (CTF) operations in several areas, including improving the availability of its beneficial ownership information.
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NewsProsecutors drop all charges against Danske Bank executives in €200bn laundering probe
Prosecutors in Denmark have dropped charges against the former chief executive of Danske Bank and two other senior executives as part of their investigation into the bank’s Estonian branch money laundering scandal.
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NewsMan charged in US with operating ‘notorious’ darknet cryptocurrency mixer as laundering service
A dual Russian-Swedish national accused of moving bitcoin worth $335 million through a ‘notorious’ money laundering cryptocurrency mixer has been arrested and charged in the United States.
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NewsVASPs now subject to Ireland’s AML/CFT rules
Virtual Asset Service Providers (VASPs) in Ireland are now required to register with the country’s central bank to comply with anti-money laundering and countering financing of terrorism (AML/CFT) obligations.
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NewsLondon’s money laundering role to feature in Italian mafia trial
The way financial centre London is used to handle earnings from criminal activity is expected to be exposed in Italy’s largest mafia trial for three decades.
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NewsStandard Chartered AML failures in Guernsey revealed by regulator
Standard Chartered’s Guernsey subsidiary transferred assets worth $1.4billion to another jurisdiction where there was concern about tax evasion, the Guernsey Financial Services Commission (GFSC) said.
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BlogArtificial Intelligence or Authentic Intelligence?
We are on the cusp of an artificial intelligence regtech spending boom, but AI has to be combined with human expertise if we are to stay a step ahead of the money launderers, argues Guy Harrison.
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NewsUK sanctions 22 involved in corruption in drive against ‘dirty money’
The United Kingdom government has announced it has imposed sanctions on 22 individuals in various countries around the world involved in serious fraud and corruption
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Q&AFinCrime Job Focus: Osman Khurshid, Head of Client Success, Synectics Solutions
In our latest reader-submitted Q&A, Osman Khurshid describes the financial crime challenges brought about by the increase in personal data online
