Tag: AML Compliance

Money laundering remains a significant threat to financial systems worldwide, not only as a crime in itself but also as a key enabler of serious criminal activities such as drug trafficking, human smuggling, and terrorism. Consequently, it is critical for all businesses handling substantial sums of money to implement robust AML procedures.

The Financial Crimes Enforcement Network (FinCEN) has recently issued a pivotal final rule that mandates registered investment advisers (RIAs) and exempt reporting advisers (ERAs) to establish comprehensive anti-money laundering (AML) and countering the financing of terrorism (CFT) frameworks under the Bank Secrecy Act (BSA).

In 2025, the ability to effectively identify Politically Exposed Persons (PEPs) has become crucial in the financial sector's battle against money laundering and corruption. PEPs, due to their influential roles, are at higher risk of engaging in illicit activities.

While the integration of artificial intelligence (AI) in anti-money laundering (AML) processes promises enhanced efficiency, the assumption that AI lacks bias because it isn't...

Flagright, an AI-native AML compliance platform, has announced the successful closure of a $4.3m seed funding round. This financial boost aims to propel the...

Australia is moving to overhaul its anti-money laundering and counter-terrorism financing (AML/CTF) framework with a comprehensive new proposal aimed at aligning the country with global standards set by the Financial Action Task Force (FATF).

In the realm of AML protocols, Negative News Screening (Adverse Media Screening, AMS) stands as a critical frontline defence.

Vanquis and FinScan, a leading provider of AML compliance solutions from Innovative Systems, have entered into a partnership. Vanquis Banking Group is known for its dedicated...

As artificial intelligence (AI) continues to transform financial crime compliance, a new industry benchmark is emerging: compliance-first AI. In a landscape where balancing cutting-edge technology...

FinScan, an anti-money laundering (AML) compliance solution from Innovative Systems, has enhanced its payment screening solution, FinScan Payments, to accelerate transaction workflows while strengthening...