QuantaVerse Launches New Financial Crime Investigation Report
QuantaVerse Adds New FCIR to Speed Initial Reviews of TMS Alert Investigations Wayne, PA (January 20, 2021) – QuantaVerse, which uses AI ...
Tag: AML
Anti-money laundering or AML refers to laws and regulations designed to prevent people from hiding money that they’ve obtained in illegal ways. From a compliance standpoint, AML regulations require that banks and other financial institutions follow rules and regulations to ensure they’re not issuing credit to or opening accounts for people who are participating in money laundering schemes or activities.
AML compliance officers are often appointed to oversee AML policies and ensure that organizations are compliant.
The following articles and resources cover many aspects of anti-money laundering as it relates to compliance and risk management.
Adverse Media Screening: Relying on Google Alone Can Expose Organizations to Risk
Regulatory agencies around the world emphasize the importance of mitigating risks through adverse media screening. In fact, screening for negative ...
Banks Worldwide Amass $15B in Fines in 2020, U.S. Banks Account for 73%
Data acquired from the Bank Fines Report 2020 by Finbold.com indicates a total of $15.13 billion (€12.79 billion) in aggregated bank fines last ...
Technology Enhancements to the QuantaVerse Financial Crime Platform Extend its Lead in AML Innovation
Wayne, PA (January 5, 2021) – QuantaVerse, which uses AI and machine learning to automate financial crime identification and investigations, finished 2020 well-positioned for ...
Identifying and Preventing Money Laundering in a Pandemic
“In every crisis, an opportunity:” the criminal’s motto, probably. Financial crime compliance consultant Shubham Jain discusses what banks can do ...
Know Your Customer Partners with Refinitiv to Add World-Check Data in End-to-End AML and KYC Solution
Hong Kong, Singapore & Dublin (December 9, 2020) – Award-winning RegTech provider Know Your Customer is partnering with Refinitiv, a world-leading provider of financial ...
Global Financial Institution Fines for AML, Data Privacy and MiFID Rise 26% in 2020
APAC region saw single biggest regional increase from $6.6 million in 2019 to $5.1 billion in 2020 London, Dublin, New ...
ACAMS Launches New AML Compliance Certification Program for Fintech Firms
CAFCA establishes a baseline industry standard for FinTechs facing evolving regulatory obligations CHICAGO (December 7, 2020) – In response to the ...
Steele Expands Industry-Leading Risk Data & Insights Platform Through info4c Acquisition
Steele strengthens its position as a leading risk intelligence data platform for identifying and mitigating compliance risk. SAN FRANCISCO & ...
The Trouble with Weak AML & CFT Compliance Programs
Timur Mussin, CCO at ForteBank, discusses the importance of a strong ethics and compliance program and explores some of the ...
Rethinking the Suspicious Activity Report
Recent coverage of the FinCEN data leak has illuminated the need for an evolution in SAR filing. Hummingbird CEO Joe ...
Navigating FinCEN’s Enforcement Factors
FinCEN recently released the factors it will use when deliberating an action against a financial institution for Bank Secrecy Act ...
