It is hard to deny that compliance has a reputation for being a little on the dull side. Regulations, forms, processes, and GDPR are enough to make even the most pernickety person fall asleep. Occasionally, however, particularly when it all goes horribly wrong, the wreckage of a broken compliance regime… Read More
By Raisa Ostapenko From the discovery of an eighth exoplanet circling distant star Kepler-90 to Microsoft’s ambitious new project to map and decode the human immune system, Artificial Intelligence (AI) and especially its subset Machine Learning – a field of Computer Science that gives computers the ability to… Read More
A top EU official overseeing money laundering issues in the bloc has described the multi-billion euro money laundering scandal at Danske Bank as the ‘biggest’ on the continent. Věra Jourova’s Justice and Consumers unit at the European Commission has seen through a number of major laws to tackle money laundering… Read More
Every year some financial institutions around the world continue to open bank accounts which do not fully satisfy regulatory expectations because the identity and verification (ID & V) process they use is very manual in nature. Facial recognition solutions linked with ID verification, on the other hand, help ensure that… Read More
The Financial Action Task Force (FATF), in conjunction with the Asia Pacific Group (APG) recently issued a issued a report on financial flows in human trafficking, highlighting the opportunities and challenges of preventing predicate crimes by identifying the perpetrators and victims through their money trails. The report breaks down human… Read More
If your job is looking for needles in a haystack, the last thing you want is a group of people standing by with pitchforks, throwing extra bales onto the pile. Yet that seems to be the situation the UK’s Financial Intelligence Unit (FIU) has found itself in when it comes… Read More
By Richard Parlour Topolcany Castle in the Slovak Republic is often acknowledged to be one of the best examples of mediaeval castle architecture anywhere in the world. It was built on the classic three lines of defence model. There is an outer wall, an inner wall, and a keep. Three… Read More
The money laundering scandal that has rocked Danske Bank – Denmark’s largest bank – highlights some key points, not just for the bank, but also for financial crime professionals the world over. To better understand this case, it is worth looking at the initial findings of the review conducted… Read More
The fundamental duty of a compliance officer is to keep the ethical integrity of a company uninjured. Compliance officers must make sure that the business activities of the organisation are carried out within a regulatory framework. To accomplish this, the compliance officer must possess a defined set of skills and… Read More
Banks and other financial firms the world over find they are faced with a fluid, fast-changing regime of sanctions programs, and hence they invest in skilled financial crime personnel and compliance solutions to help hedge them from regulatory breaches. It is not uncommon for staff at financial institutions to feel… Read More
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Bearing witness to financial crime, across party lines

If it seems like an odd recipe for financial oversight, it’s also a surprisingly effective one: take five to ten congressional staffers, exile them to a squalid basement office with “hard-boiled” charm in the U.S. Senate’s oldest building, give them access to subpoena powers and a seemingly endless series of… Read More

Anti-money laundering analysis: UK FCA and EU blacklists update

A key element in the application of the risk-based approach (RBA) to financial crime is the identification by a firm of those countries with which its customers are closely linked and which are also adjudged to be high risk in financial crime terms. There are many lists of such high-risk… Read More