Staying compliant relies heavily on a financial company’s operational arm. Under the watchful eyes of regulatory bodies, it’s imperative to provide evidence for adequate anti-money laundering (AML) systems. This is not relatively easy if data is juggled between multiple platforms and people. And without an audit trail, potentially harmful criminal activity can slip out of … Continued
With digitalisation playing a significant part in our lives, it’s no different for modern AML compliance. However, regulatory technology (RegTech) cannot work best alone. Human ingenuity still plays its role in solving the problems that permeate financial services regarding money laundering, terrorist financing and other crimes; it’s calculated that around 99.8% of laundered money is still untraced, while … Continued
In today’s era of mass digital payments and financial transactions, anti-money laundering (AML) compliance has become critical for banks, financial institutions, and other regulated businesses. Technology is now vital to run an effective intelligence-driven AML programme – your software should provide the automation and analytics that compliance teams need to accurately identify financial crime risks amidst … Continued
Regulations around the world are tightening their grip, and financial institutions will face drastic measures for anti-money laundering (AML) compliance failures. Anti-money laundering fines in the UK and South Africa in 2025 have seen an upward trend – millions of pounds and rand in penalties that paint a worrying picture of how seriously compliance is … Continued
Robust legal support for AML Whistleblower Protection is crucial to encourage reporting and safeguard those who speak up to help prevent financial crimes including money laundering and terrorist financing. Whistleblowers who report suspicious transactions or activities can provide invaluable insights that allow authorities to detect and prosecute crimes that may otherwise go unnoticed. However, potential … Continued
Our world has been built by culture. It’s an inescapable part of humankind, comprising behaviours, communication systems, customs and schools of thought. Evolving cultures stemming from ancient civilisations all the way to the present day teach us about the various ways we can solve societal problems and progress. In that regard, anti-money laundering (AML) compliance for … Continued
The concept of Beneficial Ownership transparency has recently taken centre stage in AML compliance and the combating of financial crime. Understanding who owns or controls a company or asset—the so-called “beneficial owner”—is crucial for promoting accountability and integrity across financial systems worldwide. This article will explore the significance of beneficial ownership, the current regulations and challenges … Continued
Anti-money laundering (AML) regulations are getting more complex, but companies and financial institutions must comply to avoid steep penalties and reputational damage. This comprehensive guide provides details on achieving AML compliance. What is AML Compliance? AML compliance refers to the policies, procedures, and controls governments implement to detect, prevent, and report money laundering and terrorist … Continued
By Bradley Elliott, CEO Have you heard the story of Franklin D. Roosevelt murdering his grandmother? There should be an emphasis on ‘story’, as this urban myth is based on a dark joke FDR allegedly played at important receptions. Politely whispering to his esteemed guests that he’d killed his grandmother was a way to work … Continued
How to balance efficiency and effectiveness In the battle against financial crime, compliance officers may feel like middlemen, but understanding the cost of AML CFT compliance is crucial to properly budget and staff anti-money laundering and counter-terrorist financing programs, which have become far more strict in financial services. Staying up-to-date with a complex, ever-changing fin … Continued