All Financial Crime articles – Page 22
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Q&AFinCrime Job Focus: Mike Hampson, CEO, Bishopsgate Financial
In our latest reader-submitted Q&A, Mike Hampson argues that the banking sector needs to improve collaboration to tackle financial crime
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BlogGermany’s proposed AML law: what it would mean for compliance professionals
Germany’s draft anti-money laundering law would widen the definition of money laundering crimes. Oliver Förster explains how this would both ease and add to AML compliance workloads
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NewsFATF president pledges to support digital transformation of AML/CFT systems
The Financial Action Task Force (FATF) will seek to support the building of greater efficiency and resilience in anti-money laundering systems through digital transformation, its president has announced.
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BlogGermany unveils tough new AML law in bid to boost prosecutions
The German government has adopted draft legislation aimed at boosting money laundering prosecutions.
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NewsUK Treasury Committee announces fresh inquiry into financial crime
An influential cross-party group of lawmakers in the UK has launched a follow-up enquiry into financial crime following the release of the FinCEN Files last month.
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News
UAE suspends licenses of 200 law firms for breaching AML regulations
Two hundred law firms in the United Arab Emirates (UAE) have had their licenses suspended for a month by the country’s Ministry of Justice for breaching anti-money laundering rules.
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AnalysisTrust, privacy and combatting crime: the tech behind Singapore’s facial recognition ID scheme
Singapore is to become the first government in the world to grant citizens access to services online using facial verification and UK-based provider iProov has won the contract. FinCrime Report speaks to the firm’s founder Andrew Bud about the technology and issues of privacy, anti-money laundering, security and trust.
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BlogUnderstanding the components of illegal wildlife trafficking
High profits and the perceived low risk of being caught makes the illegal wildlife trade attractive to criminals. Paula Krulicki of ManchesterCF explains how anti-money laundering teams should investigate the problem.
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NewsFinCEN fines early Bitcoin mixer operator $60m
The Financial Crimes Enforcement Network (FinCEN) has fined the founder and operator of Helix and Coin Ninja $60m.
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Q&AFinCrime Job Focus: Matthew Redhead, researcher and writer
In our latest reader-submitted Q&A Matthew Redhead explains how financial crime can get the emotional juices flowing
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FeatureThe skills needed in the FinCrime team of the future
Becky Marriott’s financial crime fighting journey to date includes working on security in warzones, threat intelligence at the 2012 Olympics, tracing global sanction evasion networks and investigating ISIS. Now at digital banking services provider Tide, Marriott discusses the skills needed to equip the financial crime teams of the future.
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NewsFATF flags Chinese FIU’s lack of powers to tackle AML
China’s decentralised Financial Intelligence Unit system lacks the power to analyse suspicious activity adequately, a Financial Action Task Force (FATF) report has said.
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NewsLeicester textile firms ‘involved in money laundering and VAT fraud’
A network of clothing manufacturers in Leicester has been involved in money laundering and VAT fraud, a BBC investigation has found.
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FeatureIdentifying, verifying and authenticating customers – which tech options will you go for?
Know Your Customer rules are tightening but bank customers increasingly want fast sign-up and quick banking. FinCrime Report looks at some of the identification and verification technologies currently being used to prevent fraud and money laundering in an increasingly complex landscape while ensuring user experience remains positive.
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News
Businessman with criminal links hands over £10m to UK investigators following Unexplained Wealth Order first
A UK businessman with links to serious criminals has surrendered property worth nearly £10m after an Unexplained Wealth Order (UWO) was issued to force him to reveal where his money came from.
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NewsArrests over alleged fraud in two UK government Covid-19 schemes
A series of arrests have been made over the last week involving suspected fraud connected to Covid-19 government schemes supporting UK businesses.
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NewsAUSTRAC investigates PayPal as AML compliance clampdown continues
Australian enforcement agency AUSTRAC has ordered the appointment of an external auditor to probe anti-money laundering compliance concerns at PayPal.
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Q&AFinCrime Job Focus: Blake Cuningham, product lead, Comply Advantage
In our latest reader-submitted Q&A, Blake Cuningham talks about tackling the puzzle of complex product development challenges
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NewsSARs system is ineffective at uncovering money laundering, warns United Nations panel
The system under which banks report suspicious activity has uncovered “very few” instances of money laundering, corruption or other financial crimes, a United Nations (UN) panel report has said.
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FeaturePreparing for the cybercrime challenge: tips from a former FBI agent
Few have witnessed the developments in cybercrime unfold over the past 20 years as closely as Jeff Lanza. The former FBI agent has followed the progression of white-collar crime since the 1980s and has seen first-hand how investigations went from being all about catching gangsters operating in the physical world, to catching online hackers in just a matter of years.
