Tag: AML anti-money laundering

EBA launches consultation on role, responsibilities of AML/CFT compliance officers

The European Banking Authority (EBA) has issued a consultation on the role, tasks and responsibilities of anti-money laundering and counter-terrorism financing officers.

EU plans to end cryptocurrency anonymity as part of AML plan

The European Commission has said it intends to end anonymity in cryptocurrencies and introduce a new anti-money laundering (AML) agency to crack down on financial crime.

FCA provides warnings to banks over money laundering failings

The Financial Conduct Authority (FCA) has issued warning letters to retail banks due to ongoing weaknesses and failings around their financial crime controls.

Majority of UK compliance experts expect more AML regulation due to...

A study by LexisNexis Risk Solutions has found 78% of compliance professionals in the UK see increased anti-money laundering (AML) legislation on the horizon due to Brexit.

Study finds AML compliance costing UK firms over £28bn a year

A study by LexisNexis Risk Solutions has found anti-money laundering (AML) compliance is costing UK financial institutions £28.7bn and will raise to £30bn by 2023.

Is data the silver bullet in tackling financial crime?

Getting to grips with the threat of financial crime looms large in the minds of banks, especially as more of the world goes online. Not being able to manage modern financial crime could be terminal for them, but data could be the key to the solution.

More vigorous action needed on money laundering, BaFin tells Deutsche Bank

German financial regulator BaFin has told banking giant Deutsche Bank it needs to introduce stronger action on money laundering.

Why wire transfers are more popular with money launderers and fraudsters,...

Wire transfers have long been the tool of choice for money launderers and fraudsters and AML compliance and fraud professionals must understand how wire...

Modularbank adds AML to product offering after partnership with HAWK:AI

Estonian core banking provider Modularbank has added anti-money laundering (AML) capabilities to its services via a partnership with HAWK:AI, a Germany-based AML platform.

Swedbank gives prosecutor permission to question the bank’s lawyer over money...

Swedish bank Swedbank has allowed authorities investigating a potential money laundering scandal to interview the lawyer who conducted the internal probe into the allegations.

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