AML

The Chinese Banking and Insurance Regulatory Commission (CBIRC) has warned of the potential for scams in the metaverse.

Money laundering and modern slavery may not seem to have many clear connections at first glance. However, there is more than meets the eye on this topic.

A recent report from Alessa by Tier1 Financial Solutions has underlined the key trends to watch out for in AML compliance in 2022.

The European Union is getting closer to agreeing sanctions on Russia that would ban trading on Russian state bonds amongst other things.

When monitoring transactions, the huge amount of data being directed at companies can sometimes become too much. With such a high level of data coming at these businesses, this can lead the data to become tangled and hard to break down in a more simple, readable way.

The growth of non-fungible tokens (NFTs) has been stratospheric over the past two years, with the market showing no signs of slowing down in 2022. After recently hitting a $41bn value at the end of 2021, the number of prying regulatory eyes on the industry are growing. Will this be the year we see wholesale regulation on NFTs?

A new report by the UK’s Treasury Select Committee has called on the government to work harder to tackle the ‘growing fraud epidemic’ in the UK.

The UK government recently conducted a consultation on the introduction of a common digital identity framework. However, recent research conducted by RegTech firm PassFort has found a lack of understanding among respondents as to what the framework is and what it means for them.

The European Banking Authority (EBA) has launched EuReCA, a new central database for anti-money laundering and counter-terrorism financing.

After a strong 2021, many RegTech companies are looking ahead to the new year with optimism for another year of advancement and greater innovation. With the pandemic still raging on, 2022 could be another year for RegTech companies to further ingrain themselves into the system. What trends should the industry look out for this year?