Why Russian Sanctions Require Compliance Teams to Take a Fresh Look at KYC Procedures
The Russian invasion of Ukraine continues with no signs of a resolution, and along with the protracted conflict, the U.S. ...
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.
Using FinCEN Alerts as a Roadmap to Comply With New Anti-Kleptocracy Regulations
FinCEN’s mandate to create a beneficial ownership database will continue creating ripple effects for businesses and individuals across all sectors. ...
Show Me (Where You Got) the Money: New AML Rules Promise to Upend Real Estate
In our hot housing market, the only concern for the typical real estate professional is getting the highest dollar they ...
Ukraine War Highlights Importance of Banks Investing in the Future of Compliance
The struggles financial institutions face when it comes to compliance are nothing new. And while technology is often billed as ...
Big Benefits of Advanced Tech for FinCrime Compliance Don’t Kick in Until Silos Are Toppled
Companies increasingly have the advanced tools to combat financial crime, but as industry specialist Sujata Dasgupta explains, the fragmented nature ...
Shyft Launches Veriscope to Help Crypto Exchanges Comply With Travel Rule
Shyft Network has formally launched its new tool, Veriscope, designed to help cryptocurrency exchanges avoid the so-called “sunrise issue” as ...
Insiders Warn: Governments Are Clueless About the Money Laundering Risks They Face
National risk assessments (NRA) are the apparatuses used by nations to assess their exposure to threats such as financial fraud ...
Q&A: For Effective Financial Crime Prevention, Build a Better Mix of Machines and Humans
To police financial crime, more businesses are incorporating artificial intelligence — machine learning, in particular — into monitoring, prevention and ...
Five Things to Consider For Non-Bank AML Policies
Many AML frameworks are designed specifically for banks. If your non-bank organization is required to conduct AML compliance, but follows ...
Clausematch 10 Compliance Technology Trends for 2022
As the COVID-19 pandemic rolls into its second full year, it's reasonable to reflect on the massive changes the virus ...
El Salvador’s Crypto-Bro President Is Flirting with AML Disaster
The speed and haste by which El Salvador adopted Bitcoin as legal tender has opened the door for significant risk ...
The Biden Administration’s New Attack on Corruption: What Businesses Need to Know
Though broad in scope, the Biden Administration's plan to counter domestic and international corruption follows four primary lines of effort. ...
