Tag: AML

Refine Intelligence, a FinTech company specialising in Financial Crime Greenflagging, announced its launch, marking a significant advancement in anti-money laundering (AML) practices.

Fraud in the UK has become a significant concern, with 40% of crimes being fraudulent. Money muling is at the forefront, where fraudsters utilise synthetic or real mule accounts for financial gain. The UK government, recognizing the seriousness, plans to publish an action plan to combat this issue. 

2023 has brought forward unique challenges and trends in the KYC (Know Your Customer) and AML (Anti-Money Laundering) landscape, as revealed in a survey...

Proliferation Financing (PF) is becoming an increasingly important aspect of the compliance landscape, akin to well-known areas like anti-money laundering (AML) and counter-terrorism financing (CTF). Recently, regulators, particularly in the UK, have begun implementing stricter measures to help businesses identify and mitigate PF risks.

In 2022, Fenergo's annual research survey of global investment banks highlighted a labor-intensive environment in Know Your Customer (KYC) processes. These processes were costing banks as much as $35m annually.

Hawk AI, a leading provider of fraud and Anti-Money Laundering (AML) surveillance technology, has strengthened its leadership team with the appointment of Maximilian Riege as Chief Risk Officer.

Lynx, which focuses on detecting and preventing fraud and financial crimes, has closed its Series A funding round on €17m.

Refine Intelligence has announced a successful $13m seed funding round that is set enable them to transform Anti-Money Laundering (AML). 

Australian RegTech firm Arctic Intelligence recently outlined the seven key steps for an independent review of their AML/CTF program.

Moody's Analytics recently outlined how Germany's new financial crime office will face big challenges when it opens next year.