{"id":4895,"date":"2025-07-16T14:20:04","date_gmt":"2025-07-16T12:20:04","guid":{"rendered":"https:\/\/relycomply.com\/regtech-best-defence-evolving-financial-crime\/"},"modified":"2026-03-03T14:50:59","modified_gmt":"2026-03-03T12:50:59","slug":"regtech-best-defence-evolving-financial-crime","status":"publish","type":"post","link":"https:\/\/relycomply.com\/en-gb\/regtech-best-defence-evolving-financial-crime\/","title":{"rendered":"RegTech: best defence against evolving financial crime"},"content":{"rendered":"\n<div class=\"wp-block-rank-math-toc-block\" id=\"rank-math-toc\"><h2>Table of Contents<\/h2><nav><ul><li><a href=\"#award-winning-innovation-recognised-by-the-industry\">Award-winning innovation, recognised by the industry<\/a><\/li><li><a href=\"#compliance-challenges-are-growing-so-must-your-aml-systems\">Compliance challenges are growing \u2014 so must your AML systems<\/a><\/li><li><a href=\"#how-rely-comply-sets-you-apart\">How RelyComply sets you apart<\/a><ul><li><a href=\"#ai-powered-risk-detection\">AI-Powered Risk Detection<\/a><\/li><li><a href=\"#end-to-end-visibility\">End-to-end Visibility<\/a><\/li><li><a href=\"#highly-configurable-compliance-workflows\">Highly Configurable Compliance Workflows<\/a><\/li><li><a href=\"#easy-integration\">Easy Integration<\/a><\/li><\/ul><\/li><li><a href=\"#technology-is-the-future-of-trust\">Technology is the future of trust<\/a><\/li><li><a href=\"#ready-to-stay-ahead\">Ready to stay ahead?<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n<p>Financial <a href=\"https:\/\/relycomply.com\/how-criminals-exploit-kyc-vulnerabilities\/\">crime networks are becoming increasingly sophisticated<\/a> and more challenging to detect. As cross-border transactions increase in speed and volume, so does the challenge of keeping pace with the constantly evolving regulatory landscape.<\/p>\n\n\n\n<p>To combat this, regulators are enforcing tighter anti-money laundering (AML) requirements. The message is clear: if you want to stay compliant, you must remain agile.<\/p>\n\n\n\n<p>However, agility is tough when relying on outdated systems, manual workflows, and scattered data. Even the most well-meaning organisations can fall behind without the right technology and a compliance-first culture. And that means paying the price &#8211; from fines, to reputational damage and exposure to criminal risk.<\/p>\n\n\n\n<p><strong>Regulatory technology (RegTech)<\/strong> is a game-changer, and at RelyComply, we\u2019re proud to be leading the change.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/relycomply.com\/wp-content\/uploads\/2025\/07\/RC_Blog_Refreshes_July20255-1024x1024.jpg\" alt=\"The advantages of adopting RegTech\" class=\"wp-image-2363\" style=\"width:486px;height:auto\" srcset=\"https:\/\/relycomply.com\/wp-content\/uploads\/2025\/07\/RC_Blog_Refreshes_July20255-1024x1024.jpg 1024w, https:\/\/relycomply.com\/wp-content\/uploads\/2025\/07\/RC_Blog_Refreshes_July20255-300x300.jpg 300w, https:\/\/relycomply.com\/wp-content\/uploads\/2025\/07\/RC_Blog_Refreshes_July20255-150x150.jpg 150w, https:\/\/relycomply.com\/wp-content\/uploads\/2025\/07\/RC_Blog_Refreshes_July20255-768x768.jpg 768w, https:\/\/relycomply.com\/wp-content\/uploads\/2025\/07\/RC_Blog_Refreshes_July20255-1536x1536.jpg 1536w, https:\/\/relycomply.com\/wp-content\/uploads\/2025\/07\/RC_Blog_Refreshes_July20255-2048x2048.jpg 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"award-winning-innovation-recognised-by-the-industry\"><strong>Award-winning innovation, recognised by the industry<\/strong><\/h2>\n\n\n\n<p>RelyComply\u2019s approach to compliance isn\u2019t just effective but industry-recognised. In the past year alone, we\u2019ve been honoured with multiple global accolades for innovation and impact in RegTech:<\/p>\n\n\n\n<p><a href=\"https:\/\/fintech.global\/regtech100\/\" target=\"_blank\" rel=\"noopener\"><strong>RegTech100<\/strong><\/a><strong> \u2013 2024 &amp; 2025<\/strong><strong><br><\/strong><a href=\"https:\/\/fintech.global\/aifintech100\/\" target=\"_blank\" rel=\"noopener\"><strong>AIFinTech100<\/strong><\/a><strong> \u2013 2024 &amp; 2025<\/strong><strong><br><\/strong><a href=\"https:\/\/fintech.global\/fincrime50\/\" target=\"_blank\" rel=\"noopener\"><strong>FinCrime Tech50 <\/strong><\/a><strong>\u2013 2024 &amp; 2025<\/strong><strong><br><\/strong><a href=\"https:\/\/moneylive-insights.com\/events\/summit\/about\" target=\"_blank\" rel=\"noopener\"><strong>London MoneyLIVE Summit<\/strong><\/a><strong> \u2013 Best Use of Emerging Technology \u2013 2025<\/strong><\/p>\n\n\n\n<p>These awards highlight the most forward-thinking companies tackling the toughest compliance challenges &#8211; from identity verification to transaction monitoring and everything in between.<\/p>\n\n\n\n<p>At RelyComply, we accept the challenge and challenge the accepted.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"768\" height=\"1024\" src=\"https:\/\/relycomply.com\/wp-content\/uploads\/2025\/07\/8847a08a-52da-4bd0-90e6-c4b758ee16ae-768x1024.jpeg\" alt=\"MoneyLive Summit London 2025 award: best use of emerging technology \" class=\"wp-image-2364\" style=\"width:362px;height:auto\" srcset=\"https:\/\/relycomply.com\/wp-content\/uploads\/2025\/07\/8847a08a-52da-4bd0-90e6-c4b758ee16ae-768x1024.jpeg 768w, https:\/\/relycomply.com\/wp-content\/uploads\/2025\/07\/8847a08a-52da-4bd0-90e6-c4b758ee16ae-225x300.jpeg 225w, https:\/\/relycomply.com\/wp-content\/uploads\/2025\/07\/8847a08a-52da-4bd0-90e6-c4b758ee16ae-1152x1536.jpeg 1152w, https:\/\/relycomply.com\/wp-content\/uploads\/2025\/07\/8847a08a-52da-4bd0-90e6-c4b758ee16ae.jpeg 1200w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"compliance-challenges-are-growing-so-must-your-aml-systems\"><strong>Compliance challenges are growing \u2014 so must your AML systems<\/strong><\/h2>\n\n\n\n<p>The global regulatory environment is only getting tougher. Companies are being scrutinised for:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Failing to identify beneficial ownership structures<\/li>\n\n\n\n<li>Weak or outdated KYC practices<\/li>\n\n\n\n<li>Ineffective transaction monitoring<\/li>\n\n\n\n<li>Gaps in staff training and reporting processes<br><\/li>\n<\/ul>\n\n\n\n<p>In South Africa, regulators have ramped up enforcement following the country\u2019s greylisting by the FATF. While this marks progress, local watchdogs continue to pressure accountable institutions to demonstrate robust, ongoing AML risk management, not just compliance on paper. For example:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>In 2024, the <strong>Financial Intelligence Centre (FIC)<\/strong> issued administrative sanctions against multiple financial service providers for failing to report suspicious transactions, implement proper customer due diligence, and provide evidence of ongoing staff AML training. Fines ranged from <strong>R250,000 to over R1 million<\/strong>, depending on the severity of the violations.<\/li>\n\n\n\n<li>In mid\u20112024, <a href=\"https:\/\/iol.co.za\/business-report\/economy\/2024-07-08-sarb-imposes-r13m-administrative-sanctions-on-life-insurer-safrican\/\" target=\"_blank\" rel=\"noopener\"><strong>Safrican Insurance Company<\/strong> was sanctioned <strong>R13 million<\/strong> <\/a>(with R6 million conditionally suspended) for failures in CDD, record-keeping, and a lack of a formal Risk Management and Compliance Programme.<\/li>\n\n\n\n<li>In January 2025<a href=\"https:\/\/www.cruxcompliance.co.za\/2025\/01\/22\/capitec-bank-fined-r56-25-million-by-sarb-for-fic-act-non-compliance\/\" target=\"_blank\" rel=\"noopener\"><strong>,<\/strong><\/a> the South African Reserve Bank&#8217;s Prudential Authority fined <a href=\"https:\/\/www.cruxcompliance.co.za\/2025\/01\/22\/capitec-bank-fined-r56-25-million-by-sarb-for-fic-act-non-compliance\/\" target=\"_blank\" rel=\"noopener\"><strong>Capitec Bank<\/strong> R56.25 million<\/a> for multiple failures, including weak customer due diligence, tardy suspicious transaction reporting, and unaddressed alerts in its automated monitoring system.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.news24.com\/business\/companies\/old-mutual-hit-with-fine-over-failures-to-comply-with-money-laundering-laws-20240927\" target=\"_blank\" rel=\"noopener\"><strong>In late 2024, Old Mutual Life Assurance<\/strong> was fined <strong>R15.9 million<\/strong> <\/a>for widespread AML governance failures: inadequate CDD, lack of suspicious transaction reporting, and lack of a fully implemented RMCP.<\/li>\n<\/ul>\n\n\n\n<p>These examples highlight the real-world risks of falling behind. Despite best intentions, many firms rely on outdated systems, siloed tools, and manual reviews, leaving them vulnerable to non-compliance, reputational damage, and resource strain.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"how-rely-comply-sets-you-apart\"><strong>How RelyComply sets you apart<\/strong><\/h2>\n\n\n\n<p>We\u2019re building technology that doesn\u2019t just solve today\u2019s problems &#8211; it anticipates tomorrow\u2019s. RelyComply\u2019s intelligent, end-to-end compliance platform is trusted by forward-looking firms that want to simplify their systems, reduce risk, and stay compliant across jurisdictions.<\/p>\n\n\n\n<p>Here\u2019s how we help:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"ai-powered-risk-detection\"><strong>AI-Powered Risk Detection<\/strong><\/h3>\n\n\n\n<p>Our platform automatically flags suspicious transactions in real time, with fewer false positives and faster case resolutions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"end-to-end-visibility\">End-to-end Visibility<\/h3>\n\n\n\n<p>Monitor customer risk across the lifecycle &#8211; from onboarding and KYC to transaction monitoring, adverse media screening, and reporting.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"highly-configurable-compliance-workflows\"><strong>Highly Configurable Compliance Workflows<\/strong><\/h3>\n\n\n\n<p>Adjust thresholds, rules, and scenarios to suit your unique risk profile and business goals.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"easy-integration\"><strong>Easy Integration<\/strong><\/h3>\n\n\n\n<p>Integrate into existing systems and data sources without disruption. <a href=\"https:\/\/relycomply.com\/aml-configurability\/\">No need to rebuild &#8211; just refine.<\/a><\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/relycomply.com\/wp-content\/uploads\/2025\/07\/RC_Blog_Refreshes_July20256-1024x1024.jpg\" alt=\"RegTech features to prioritise in 2025\" class=\"wp-image-2365\" style=\"width:519px;height:auto\" srcset=\"https:\/\/relycomply.com\/wp-content\/uploads\/2025\/07\/RC_Blog_Refreshes_July20256-1024x1024.jpg 1024w, https:\/\/relycomply.com\/wp-content\/uploads\/2025\/07\/RC_Blog_Refreshes_July20256-300x300.jpg 300w, https:\/\/relycomply.com\/wp-content\/uploads\/2025\/07\/RC_Blog_Refreshes_July20256-150x150.jpg 150w, https:\/\/relycomply.com\/wp-content\/uploads\/2025\/07\/RC_Blog_Refreshes_July20256-768x768.jpg 768w, https:\/\/relycomply.com\/wp-content\/uploads\/2025\/07\/RC_Blog_Refreshes_July20256-1536x1536.jpg 1536w, https:\/\/relycomply.com\/wp-content\/uploads\/2025\/07\/RC_Blog_Refreshes_July20256-2048x2048.jpg 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"technology-is-the-future-of-trust\"><strong>Technology is the future of trust<\/strong><\/h2>\n\n\n\n<p>Criminals continue to evolve. So should your compliance.<\/p>\n\n\n\n<p>With emerging regulations, increasing pressure from global watchdogs, and the growing sophistication of financial crime, manual methods alone just won\u2019t cut it. You need <a href=\"https:\/\/relycomply.com\/aml-transaction-monitoring\/\">RegTech to scale with your risk, adapt to change, and deliver confidence.<\/a><\/p>\n\n\n\n<p>At RelyComply, we\u2019re proud to be shaping the future of financial crime compliance and are recognised for it by the world\u2019s leading industry platforms.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"ready-to-stay-ahead\"><strong>Ready to stay ahead?<\/strong><\/h2>\n\n\n\n<p>Whether building from scratch or modernising outdated systems, RelyComply is here to help.<\/p>\n\n\n\n<p>Get in touch for a demo or discovery session with our team.<\/p>\n\n\n\n<p><em><strong>Disclaimer<\/strong><br>This article is intended for educational purposes and reflects information correct at the time of publishing, which is subject to change and cannot guarantee accurate, timely or reliable information for use in future cases.<\/em><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial crime networks are becoming increasingly sophisticated and more challenging to detect. As cross-border transactions increase in speed and volume, so does the challenge of keeping pace with the constantly evolving regulatory landscape. To combat this, regulators are enforcing tighter anti-money laundering (AML) requirements. The message is clear: if you want to stay compliant, you &hellip; <a href=\"https:\/\/relycomply.com\/en-gb\/regtech-best-defence-evolving-financial-crime\/\">Continued<\/a><\/p>\n","protected":false},"author":9,"featured_media":4893,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[69,67],"tags":[],"class_list":["post-4895","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology-and-regtech","category-aml-compliance"],"acf":[],"_links":{"self":[{"href":"https:\/\/relycomply.com\/en-gb\/wp-json\/wp\/v2\/posts\/4895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/relycomply.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/relycomply.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/relycomply.com\/en-gb\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/relycomply.com\/en-gb\/wp-json\/wp\/v2\/comments?post=4895"}],"version-history":[{"count":3,"href":"https:\/\/relycomply.com\/en-gb\/wp-json\/wp\/v2\/posts\/4895\/revisions"}],"predecessor-version":[{"id":4919,"href":"https:\/\/relycomply.com\/en-gb\/wp-json\/wp\/v2\/posts\/4895\/revisions\/4919"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/relycomply.com\/en-gb\/wp-json\/wp\/v2\/media\/4893"}],"wp:attachment":[{"href":"https:\/\/relycomply.com\/en-gb\/wp-json\/wp\/v2\/media?parent=4895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/relycomply.com\/en-gb\/wp-json\/wp\/v2\/categories?post=4895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/relycomply.com\/en-gb\/wp-json\/wp\/v2\/tags?post=4895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}