All Financial Threats articles – Page 7
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NewsSouth Korea’s first regulated crypto exchange could launch in Q3
South Korea has requested crypto exchanges to comply with new regulatory requests, and should the exchanges complete the process by June, the country’s first regulated exchange could launch towards the beginning of Q3 2021.
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AnalysisPooling obligations through fincrime utilities can help us be the ‘gatekeeper’
Helene Erftemeijer, ahead of her talk to GRC World Forums next month, discusses an innovative collective transaction monitoring project in the Netherlands and why we must break down siloes to keep up with the criminals
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AnalysisPushing the pace of RegTech adoption to fight the criminals
Next month, Dr Sian Lewin will address FinCrime World Forum on the topic of removing barriers to RegTech adoption in financial crime. Here, she talks about the benefits of technological solutions and explains why the pace of adoption needs to speed up.
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AnalysisThe key theme: focusing effectiveness on tackling financial crime
Regulators, government departments, private businesses and law enforcement agencies carry out a huge amount of activity every single day to combat financial crime, but how much of it is actually effective? How do we measure and improve our effectiveness? Next month’s FinCrime World Forum global live stream experience will feature several sessions on this topics. To get you in the mood, Matthew Redhead explains the key issues and argues for a systemic approach
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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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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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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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NewsTwo cryptocurrency exchanges shut down amid fraud investigations in Turkey
Two cryptocurrency exchanges have closed in a week and are the subject of fraud investigations in an apparent clampdown in Turkey.
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NewsABN Amro pays €480 million to settle anti-money laundering investigation out of court
The Dutch bank ABN Amro has accepted an offer from prosecutors to pay €480million to settle accusations of structural anti-money laundering compliance failures and ‘culpable’ money laundering.
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NewsPair of AML experts charged in US over $1bn of high-risk transactions
Two anti-money laundering (AML) compliance professionals are facing charges in the United States (US) over facilitating high-risk transactions through a credit union without appropriate controls.
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NewsFincrime experts warn compliance teams to step up efforts in face of new US sanctions
The United States has announced fresh sanctions on Russia, in retaliation to Moscow’s alleged interference in elections and cyber-attacks including the SolarWinds hack.
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NewsCouncil of Europe calls for urgent action to improve FIUs across continent
The Council of Europe (CoE) has called for its 47 member states to strengthen their Financial Intelligence Units to improve anti-money laundering and counter-terrorism financing.
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NewsUK adds Pakistan to list of high-risk countries with weak AML/CTF controls
The United Kingdom has added Pakistan to a list of 21 countries it deems to be high-risk due to deficiencies in anti-money laundering and counter-terrorism financing controls.
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BlogSpotting suspicious activity in the arts and antiquities markets
Fine art is used by launderers and terrorists to move billions of dollars of illicit cash every year. As regulators look to clamp down, Paula Krulicki outlines some of the key warning signs for Anti Money Laundering compliance teams to be aware of
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VideoDeFi Technologies will change banking forever - Decentralised Finance and New Frontiers for Blockchain
In the minds of many, blockchain technology – the use of encrypted blocks of data to create a shared ledger of activity – is synonymous with cryptocurrencies such as Bitcoin.
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VideoCryptocurrencies: Dispelling the Myths
The world of cryptocurrencies can be a disorienting place. Now, we are seeing one of the periodic booms in the value of Bitcoin and its sister currencies, with businesses and some governments exploring the possibility of launching their own versions, while others warn of the financial crime risks that crypto brings.
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VideoBlock… Change? Blockchain and the transformation of compliance
The financial services industry has spent the last decade warily eying Blockchain technology as a challenger to conventional ways of ‘doing money’ and as a potential risk to pre-existing regulatory norms.
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VideoUnlocking Crypto Crime – there is no such thing as Crypto currency crime. A presentation by Nick Furneaux
Regulators and financial crime compliance professionals have begun to grasp the concepts behind blockchain technology, cryptocurrencies and other virtual assets.
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VideoA world in Crisis. How has COVID-19 transformed financial crime – and our response?
The COVID-19 pandemic has completely changed what we think of as ‘normal life’.
