Navigating the Future of Financial Crime: The Pros and Cons of AI and Machine Learning

The landscape of financial crime is evolving at an unprecedented pace. As technology advances, so do the strategies employed by criminals seeking to exploit vulnerabilities in the financial sector. In response to these challenges, artificial intelligence (AI) and machine learning (ML) have emerged as powerful tools in the fight against financial crime. However, while they […]

ComplyRadar: Preventing AML Nightmares with Real-Time Risk Scoring

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In the world of Anti-Money Laundering (AML) compliance, the stakes have never been higher. Recent AML failures have made headlines this year, exposing international banks that fell short of AML laws. The penalties levied have been nothing short of staggering, well over the £1 million mark, underscoring the gravity of these shortcomings. A Glimpse into […]

Balkan Entertainment and Gaming Expo

ComplyRadar is currently taking part in the annual Balkan Entertainment and Gaming Expo (BEGE), a conference in the gaming and entertainment industry that serves as a prominent platform to stay informed about regulatory and technological advancements in the Eastern European region. This event, which gathers more than 250 industry representatives from 22 countries, provides an […]

Recap of a successful Gaming Compliance Forum by ARQ Group

Our team managed to establish valuable connections and had engaging discussions with industry leaders, sharing insights on how our solution enhances operational efficiency by leveraging advanced technologies such as Artificial Intelligence (AI) and real-time transaction monitoring. ComplyRadar enables iGaming companies to stay ahead of the game when it comes to compliance while avoiding reputational risk […]

What mechanisms and checks Are typically done for Transaction Monitoring?

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Transaction monitoring typically involves a combination of different mechanisms and checks to detect suspicious activity. Some of the most common mechanisms and checks include:   These mechanisms and checks are typically used in combination to provide a comprehensive approach to transaction monitoring and help detect suspicious activity as early as possible.

Why is transaction monitoring key over and above onboarding checks?

ComplyRadar -What is AML transaction monitoring

Transaction monitoring is key over and above onboarding checks because it helps financial institutions detect and respond to suspicious activity in real-time. Onboarding checks, such as customer identification and due diligence, are important for identifying and mitigating money laundering risks when a new customer is first onboarded. However, these checks only provide a snapshot of […]

ComplyRadar sponsors the Governance, Risk and Compliance Summit

ComplyRadar is sponsoring the Governance, Risk and Compliance Summit 2023 organised by the Malta Stock Exchange. The summit will take place at the Westin Dragonara Conference Centre on 2nd February 2023 and shall address the significant developments in the regulatory frameworks as well as the challenges faced by all practitioners in the financial sector. Financial […]

AML/CFT – The potential costs of non-compliance

The need for AML compliance / transaction monitoring solutions, at face value, can be considered a necessary requirement, or expense, induced by regulators. However, one can also analyze the introduction of these solutions from the perspective of possible cost savings. The first, and possibly obvious, cost saving is the avoidance of fines. This aspect is […]