Tag: Alessa

Until now, cryptocurrency companies in California have operated without a license, but this is set to change with the introduction of the Digital Financial Assets Law (DFAL), signed into law by Governor Newsom in October.

Deciphering the complexities of crypto assets and adhering to Anti-Money Laundering (AML) regulations can seem like an intricate task.

Alessa recently took the time to provide a full guide to suspicious activity reports and anti-money laundering measures.

A recent post by Alessa has detailed what the Office of Foreign Assets Control Specially Designated Nationals and Blocked Persons List is.

Banks, money services businesses, and other financial institutions are bound by U.S. laws to establish anti-money laundering (AML) procedures. Implementing identity verification, regulatory reporting, and risk management can be intricate, lengthy, and costly.

Financial institutions often fall prey to money launderers who exploit these platforms to funnel, mask, transfer, and cleanse ill-gotten gains. This doesn’t just endanger the specific institution but imperils the credibility of the entire financial system.

Chargeback fraud, an ever-present issue affecting businesses of all kinds and sizes, results in losses totalling to billions annually. The surge in eCommerce has coincided with an increase in such fraudulent activities, and this alarming trend is expected to continue.

Adverse media screening has become an integral component in the finance industry, especially in relation to Anti-Money Laundering (AML) compliance. RegTech company Alessa recently...

The introduction of GenAI has recently brought wide-ranging and disruptive change to a vast range of industries.

In a recent post by Alessa, the firm outlined the role of AML audits in enhancing regulatory compliance at companies.