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Unveiling the power of risk-based transaction monitoring in modern compliance
In today’s intricately woven financial landscape, the paramount objective is to ensure compliance with regulations while proactively identifying and thwarting illicit activities such as money laundering, fraud and terrorist financing. Organisations worldwide have elevated this mission to the top of their priority lists. In response, a risk-based approach to transaction monitoring has emerged as a […]
Navigating the EU AI Act: A Proactive Approach to Compliance
As the EU’s AI Act ushers in a new era of AI regulation, businesses are looking to ensure the solutions which they have invested in and planning to invest in align seamlessly with the Act’s core principles. Here’s how the landscape of AI compliance unfolds: 1. Risk Classification and Regulation The Act emphasises categorising AI […]
Maximising Financial Crime Prevention: The Power of Coordinated Controls
In present day, the threat of cybercrime looms large, and organisations are rightfully concerned. However, addressing these concerns and effectively preventing financial crimes requires a comprehensive and sophisticated approach that goes beyond isolated efforts. At ComplyRadar, we firmly believe that the key to success lies in better coordination between anti-fraud and anti-money laundering (AML) controls, […]
Sweden proposes comprehensive ban on gambling with credit
The Swedish Ministry of Finance has proposed an enhanced ban on the use of credit for gambling, which aims to curb gambling-related harm or irresponsible gambling. Existing regulations already prohibit licensed operators from offering credit under the Gambling Act, but the new proposed measures enforce a more robust approach. The Ministry has highlighted the link […]
ComplyRadar: Empowering Fintechs Against Money Laundering Challenges
In the dynamic landscape of financial technology (fintech), and the evolution of digital transactions and global financial services businesses face numerous challenges in preventing of money laundering (ML). This is threatens the integrity of the fintech sector, therefore demanding businesses to invest and implement proactive, efficient measures to counteract effects of ML. This is where […]
Frankfurt to Host EU’s Anti-Money Laundering Authority (AMLA)
Exciting developments in the fight against financial crime as Frankfurt emerges as the chosen host for the European anti-money laundering authority, AMLA. Last week, the Council and European Parliament sealed the deal on the authority’s seat, marking a milestone in the EU’s efforts to strengthen its anti-money laundering framework. Set to kick off operations in […]
How Financial Institutions can harness AI and Machine Learning with ComplyRadar
In the fast paced world of financial services, payment institutions are navigating through and exposed to stringent regulatory scrutiny along with evolving fraud tactics. Addressing these challenges effectively is not simple, businesses require proactive and intelligent solutions to remain ahead of the curve. Enter ComplyRadar, a cutting-edge transaction monitoring solution which harnesses the power of […]
Navigating the Complex World of Evolving Financial Regulations: A Closer Look at Switzerland’s AML Reforms for Beneficial Ownership
The financial landscape is a dynamic and ever-evolving ecosystem. In an era marked by technological advancements and globalisation, financial regulations are constantly adapting to keep pace with emerging challenges. Switzerland, renowned for its robust financial sector, is no exception to this trend. Recently, the country has been floating AML (Anti-Money Laundering) reforms that particularly focus […]
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 […]
