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FIAU Updates GoAML Schema: A Guide for Businesses
The Financial Intelligence Analysis Unit (FIAU) of Malta has recently released a new technical package which includes significant changes to the GoAML XML schema. These updates are designed to enhance the effectiveness of anti-money laundering(AML) reporting, including two new report types and additional indicators. The two new report types are, ‘The Call For Action Report […]
No more technical headaches for risk detection
If you are feeling overwhelmed by complex rules and cryptic alerts, we get it. That’s why ComplyRadar is excited about some new functionality, enter large language AI models – we feel that this will be a game changer for risk management. Picture ditching that mountain of technical rules and getting clear explanations for suspicious activity, […]
Natural Language Querying of ComplyRadar with Generative AI: Unlocking Deeper AML/Fraud Insights
Financial institutions (FIs) are constantly bombarded with data from various sources, making it challenging to extract actionable insights for Anti-Money Laundering (AML) and fraud transaction monitoring. ComplyRadar, a leading AML/fraud solution, provides a powerful platform for analysing this data. However, traditional querying methods can be limiting. This article delves into the transformative potential of Generative […]
ComplyRadar Levels Up Transaction Monitoring with a new AI Module: Get Answers, Not Just Alerts
Transaction monitoring solutions are essential for fighting financial crime, but information overload can slow you down. Imagine a system that not only detects suspicious activity but also delivers insights and answers at your fingertips. ComplyRadar’s groundbreaking AI module is turning this into a reality. Here’s how ComplyRadar’s new feature empowers you to gain deeper intelligence […]
Switzerland’s AML Landscape: A Transformative Journey
Money laundering poses challenges in Switzerland, a global financial hub. Historically linked to drug trafficking, corruption, and financial crime, the nation responded with robust AML measures. In the 1990s, Switzerland addressed money laundering, aligning with international standards. In 2014, it embraced transparency by sharing financial information globally. Over the years, AML regulations evolved, focusing on […]
The Future of Fighting Financial Crime is Here: How ComplyRadar Makes Transaction Monitoring a Superhero
Remember that clunky transaction monitoring system that slowed you down and missed the real bad guys? Yeah, those days are over! The future of fighting financial crime is intelligent, connected, and user-friendly, and ComplyRadar is leading the charge. ComplyRadar’s transaction monitoring solution uses machine learning to outsmart criminals, analysing mountains of data to sniff out […]
FIAU publish their Supervisory Plans for 2024 – 2025
The Financial Intelligence Analysis Unit (FIAU) has published a new newsletter detailing their supervisory plans for the upcoming cycle. This newsletter provides valuable insights into the supervisory activities and priorities the FIAU has set for 2024 – 2025. WHY DOES THE FIAU UNDERTAKE AML/CFT SUPERVISION? Products and services offered by subject persons can be attractive […]
Exploring the Pinnacle of AML Innovation with ComplyRadar
In the ever-changing landscape of Anti-Money Laundering (AML) compliance, remaining ahead of the curve is not just an advantage; it’s an expectation and requirement. At ComplyRadar, we embrace this ideology, consistently pushing boundaries to deliver a sophisticated solution which allows our clients to act and respond proactively to ML and Fraud risks. As customers demand […]
Enhancing Financial Integrity: The Significance of a Risk-Based Approach to Transaction Monitoring
In today’s convoluted financial landscape, ensuring compliance with regulations and identifying illicit activities like money laundering and fraud proactively has become a top priority for organisations worldwide. A risk-based approach to transaction monitoring emerges as a powerful solution, strategically addressing the evolving challenges that financial entities face. The False Positive Overwhelm Imagine a bank struggling […]
Tackling Trade-Based Money Laundering (TBML)
Trade-Based Money Laundering (TBML) is a sophisticated method used by criminals to complicate and disguise the origins of illicit funds through global trade transactions. Unlike traditional money laundering through financial institutions, TBML exploits the complexities of international trade. TBML is similar to a tricky dance where criminals manipulate invoices, transactions, and paperwork, creating a confusing […]
