Financial Crime Compliance Resources

There has been a lot of information circulating about fraud during the pandemic. Many organizations, including AML RightSource, have discussed this challenge. What is most confounding about fraud is that it is always...

An ongoing minefield for financial crime in the UK has been the property market. Whether this includes cheaper for-rent businesses and accommodations nationwide (with university digs being a matter of great concern...

Six months and counting. The European Union’sSixth Anti-Money Laundering Directivecomes into effect across its member states on 3 December 2020; regulated financial institutions will then need to be compliant by 3...

No Deja Vu[1]

Examiners will consider the unique, evolving, and potentially long-term nature of the issues confronting institutions and exercise appropriate flexibility in their supervisory response. Stresses caused by...

KYC, CDD and KYC refresh given a major boost in efficiency through digitising KYC and investigative processes.

The release ofultimate beneficial owner (UBO) registershas become mandatory in the EU following the 5th Anti-Money Laundering Directive (5AMLD), and it could have some extremely positive ramifications for financial...

Jurisdiction identification, one capability of the QuantaVerse Pre-TMS Entity Resolution & Risk Scoring solution, is now available as a standalone function for banks looking to reduce risk and false positives, and...

The Italian Renaissance saw the birth of an elite group of patrons revered for their intellect and dedication to the world of art. This group became the first true dealers in arts and antiquities, collecting and...

In our continuing series of interviews, we caught up with Laura Hamilton, Senior Analyst, Business & Strategic Intelligence atFalanx Assynt, who kindly took some time to tell us about her role, her challenges around...

I have a comment…[1]

This post is part of our occasional series on AML program fundamentals which focuses on refreshing foundational knowledge for experienced members of the AML community and providing an introduction to key topics for...

Arachnys platform augments Standard Chartered’s global AML monitoring strategy, with a focus on counterparty review and investigations.

This post is the next installment in Tim White's discussion about managing the migration from one AML transaction monitoring system to another.  The first installment focused on the process of selecting a system, and ...

In our continuing series of theFinCrime Files, we caught up with Francisco Mainez, Head of Business Financial Crime Risk Data and Analytics, Retail Banking at HSBC Retail Banking and Wealth Management.

Marijuana legalisation is a burgeoning topic for, not just the financial services domain, but wider society as a whole. Not many other industries have had such a to-and-fro of opinion in the past few years, coupled with...

A range of scandals and investigations have highlighted the pressing need for tighter anti-money laundering (AML) procedures in Russian banks, including customer due diligence and adverse media screening.

Hi Renata, can you describe your role and a little of your career background?

Currently the Chief Compliance Officer, MLRO and Data Protection Officer atMFEXLuxembourg, I have had a very successful career in the...

• In our latest webinar, we interview AML expert Dev Odedra on pertinent issues that resulted from our AML/KYC Data Survey, in regards to anti-money laundering in the financial industry.

Information Sources

Financial service companies (FIs) have a wide variety of information about their customers. Some of it is personal data, gathered at account opening or as part of a specific transaction, such as a...

The illegal wildlife trade may have been perceived as a relatively low-risk avenue of illicit funds by criminal organisations, but never has the detrimental impact of the illegal wildlife trade been more dire than...

In the latest of our FinCrime Files interviews, we caught up with András Bácsfalvi, Chief Compliance Officer atMKB Bank. He discusses his view on releasing UBO registers in the EU, developments in AML since the...

We are very excited to highlight a staff member each month from our team of superb employees.

AML RightSource May Employee Spotlight: meet Arlene Eley! Ms. Eley is the Human Resources Business Partner in our...

What are the root causes leading to a look-back or remediation project? What are the challenges of a look-back or remediation? How do you create a winning strategy to approach a look-back or remediation?

• In recent years there has been a lot of talk about perpetual (or continuous) KYC. It is a term used to indicate the industry objective of moving away from conducting painful and ineffective periodic review processes....

• “There are some decades where nothing happens, and some weeks where decades happen” – Vladimir Il’yich Ulyanov (Lenin)