Efficient and accurate data analysis is vital for effective AML/CFT programs – yet AML teams using legacy transaction monitoring programs frequently deal with backlogged systems. Their analysts often experience burnout from processing high volumes of alerts with too many false […]
Banks need a new approach to detecting financial crime. This hands-on guide explores how AI can be deployed in transaction monitoring systems today, improving alert remediation and helping compliance teams better identify networks of illicit activity.
Lumon has provided overseas payments and foreign exchange services to private individuals, small-to-medium enterprises (SMEs), and larger corporates for over two decades.
Arshi Singh, Product Director at ComplyAdvantage Almost half of businesses globally have experienced fraud or a related economic crime in the last 24 months. What’s more, according to PwC, the risk of exposure grows as companies scale. 38% of businesses […]
As a leading global provider of software and data analytics to the real estate industry, RealPage provides a suite of cloud-based software that helps residential real estate owners and operators manage the tenant lifecycle.
Financial crime typologies are evolving at pace. This shift is putting pressure on the transaction monitoring rule sets compliance teams use to help detect and prevent criminal behavior. For example, a recent report by ComplyAdvantage and the FinTech FinCrime Exchange […]
For many early-stage, fast-growing fintechs, implementing anti-money laundering compliance tools and processes can be a challenge. This guide is designed to provide startups with practical tips to enable them to build a compliance function that can scale with their businesses.
Money laundering underpins most forms of organized crime by disguising illicitly-obtained financial assets as “clean” and allowing nefarious groups or individuals to profit from illegal activity. While the amount of money laundered globally in one year is estimated to equal […]
What is SWIFT? The Swift system, or the Society for Worldwide Interbank Financial Telecommunication, facilitates financial transactions and money transfers for banks located around the world. The system is overseen by the National Bank of Belgium and enables transactions between […]
This annual report, based on a global survey of 800 compliance professionals across North America, Europe and Asia Pacific explores some of the biggest financial crime challenges firms are facing.
In an evolving financial landscape, new criminal methodologies and regulatory obligations change firms’ compliance obligations regularly. In order to detect and prevent money laundering in that regulatory environment, banks must work to understand their customers’ financial activity by implementing a […]
The volume of cryptocurrency transactions grew to $15.8trn in 2021, up 567% from 2020, another sign that the trading of digital assets is becoming increasingly mainstream. Highlights from a new report from blockchain data platform Chainalysis show illicit crypto transactions […]
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