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A recent blogpost by Arctic Intelligence detailed how a letter by the Financial Conduct Authority (FCA) has exposed companies’ poor quality of business risk assessments.

A report by RegTech firm Arctic Intelligence has detailed key actionable insights for how regulated companies can approach the risk assessment process.

Anthony Quinn, founder and CEO of Arctic Intelligence, the Australian RegTech company, is imploring the international Financial Action Task Force (FATF) to finish its review of the country's anti-money laundering (AML) regulations.

In an era marked by rapid technological advancements and evolving regulatory landscapes, the financial services industry faces ever-increasing pressure to maintain robust compliance standards.

As technology continues to expand its reach within the financial services market, many banks are looking over their shoulder at the vast litany of...

As technologically-driven solutions continue to firmly pierce the financial industry and how it runs, the need for firms to maintain compliance amongst a deluge...

The effectiveness of anti-money laundering (AML) and combatting the financing of terrorism (CFT), is not solely reliant on the initial design, but also comes from the adaptability and responsiveness to evolving risks.

Governance and risk assessment are not regulatory checkboxes but the bedrock of a robust BSA/AML and OFAC compliance program.

With the industry's focus on rapid growth and market domination, the critical role of risk assessment in preventing money laundering, terrorist financing, and other illegal activities is frequently sidelined. This negligence can lead to severe consequences, including regulatory fines and reputational damage, ultimately impeding a company's ability to compete.

In 2023, new technologies entered the market that brought new challenges for financial services firms to remain compliant, RegTech was given the opportunity to provide the solutions necessary to fix this issue. Whilst the industry may be still relatively unknown beyond the shores of finance, its importance cannot be understated.