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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
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?
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.
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 […]
Effective AML Case Management
Although the identification of suspicious activity is core to an AML solution, an equally important component is the effectiveness of how to manage the investigative processes that follow such alerts. Inconsistent investigative processes, both in terms of approach or in terms of quality, can open up a loophole in the process that can make the […]
Risk Based Approach
Once the customers demand for services increases and business growth ensues, transaction volumes and variety become so large that a one-size-fits-all transaction monitoring approach no longer becomes feasible or effective. Traditional transaction monitoring rules tend to be set as thresholds impacting most of the customer-base with the least-risk cut-off point. This results in rules that […]
Powering Anti-Money Laundering efforts with Artificial Intelligence
The question that follows, is how can artificial intelligence assist organisations with combatting Money Laundering? Although in essence the ultimate question which needs to be answered is a binary one – is a particular activity hiding illicit money laundering activity or not – reaching a simple and correct conclusion is in many cases not an […]
What is Adverse Media and why do we need it ?
What is Adverse Media and why do we need it? Globally there is a spotlight on regulated industries and the general trend right now is for countries to encourage or force adverse media screening checks in order to assist with combating any poor AML protocols. Onboarding a client with a poor reputation and a risky […]
