The interconnected and digital nature of today’s global financial system has amplified the challenges of money laundering and terrorism financing. These constantly evolving threats demand a fundamental shift in our countermeasures, as conventional approaches, based on manual reviews and rigid rule systems, are struggling to keep pace with increasingly sophisticated criminal tactics. This article explores … Continued
We’re proud to announce that RelyComply has been included in the first edition of the FinCrimeTech50 list, founded by specialist research company FinTech Global. The list celebrates trend-setters and pioneering technology companies reinventing the anti-money laundering (AML) and fraud prevention space. The timing is perfect: an estimated 50% of financial institutions are searching for new solutions … Continued
Advancements in RegTech are having a crucial effect on financial services’ approach to achieving AML compliance. Automation processes can provide accurate real-time risk alerts and continuous KYC, reducing manual work and, more importantly, the threat of laundered money moving through the system. Fuelling this tech revolution is AI, whose generative functions are reshaping operational processes … Continued
Transaction monitoring is a vital aspect of any business’s anti-money laundering (AML) and fraud prevention measures. It entails tracking financial transactions to identify and prevent any suspicious or fraudulent activity. The recent decision of the Financial Action Task Force (FATF) to grey-list South Africa for not meeting global AML/CTF standards highlights the significance of strong transaction monitoring solutions … Continued
As the world becomes increasingly digital, the financial landscape has undergone a significant transformation. The rise of new technologies has brought many benefits to the financial sector, but it has also created new challenges, particularly when it comes to Anti-Money Laundering (AML) compliance. With the volume and complexity of financial transactions growing each day, businesses … Continued
Doing business with a known criminal is bad for business. At least, if you’re a reputable company looking to keep your reputation intact. But, what if it is your customer who is engaging in financial activity with a suspicious party? Take, for instance, the recent US sanctioning of a number of ISIS members operating economically within South … Continued