Tag: Alessa

With the challenges of financial crime increasing with an ever-growing digital presence for firms and threat actors alike, there is a growing desire in the industry for more real-time management of such threats. What are the challenges and opportunities for such technologies?

FINRA enforces rules designed to protect investors from unethical practices and prevent financial losses.

In the ever-evolving landscape of financial technology, risk scoring stands as a cornerstone process in ensuring compliance and mitigating financial crimes.

FinTech Global recently spoke to multiple industry players to get their insights on whether financial institutions are keeping up with modern sanction/PEPs lists monitoring requirements. The first part can be read here. In this second half, FinTech Global asked the industry leaders to outline some of the best practices they have seen in the market and how to stay on top of the lists.

The war in Ukraine has underscored how quickly sanction and PEPs lists can change. Since 2022, the US, UK, EU, Australia, Japan and Canada have imposed over 16,500 sanctions on Russia, according to the BBC. The current turbulent geopolitical scene means financial services firms need to be ready for regular, and often sudden, changes to PEPs and sanction lists. FinTech Global recently spoke to several industry players to ask whether financial institutions are keeping up with the modern sanction/PEPs landscape.

Politically Exposed Persons (PEPs) represent a significant risk for money laundering and corruption within the financial sector. Alessa, a leading provider of Anti-Money Laundering (AML) compliance software, emphasises the critical importance of accurately identifying and screening PEPs before any business engagement.

In an increasingly interconnected world, economic and trade sanctions serve as powerful tools wielded by governments and organisations.

Automated Clearing House (ACH) payments are a staple in modern financial transactions, offering a quick and efficient means for businesses and consumers to move...

Art money laundering refers to the concealment of the origins of illegally obtained funds through the purchase and sale of art.

In a recent post by RegTech firm Alessa, the company outlined how best to understand the intricacies of money laundering typologies.