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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 […]
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 […]
Large economies were spared by the Financial Action Task Force from pressure over AML gaps
A move to save big economies from being included in the gray list
11th NextGen Payments & RegTech Forum
A highly productive week in Greece for our team…
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 […]
