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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 […]
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 […]
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 […]
