Tag: customer due diligence

Australia’s financial crime watchdog, AUSTRAC, has taken a major step towards modernising its Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) framework by publishing its Second...

In an increasingly complex regulatory landscape, small and medium-sized enterprises (SMEs) are facing growing pressure to keep pace with anti-money laundering (AML) compliance requirements....

The European Banking Authority (EBA) has published a new consultation outlining proposed Regulatory Technical Standards (RTS) to overhaul how anti-money laundering (AML) and counter-terrorism financing (CFT) are supervised across the EU. The proposed changes are intended to create consistency, clarity and stronger oversight across the bloc while informing the work of the new Anti-Money Laundering Authority (AMLA).

As the fentanyl crisis intensifies, Canada is turning to technology to curb drug trafficking and its financial enablers. Napier AI, which offers a next-generation intelligent...

Client onboarding is a critical first step in understanding who financial institutions are doing business with and assessing potential risks. This know your client (KYC) process helps firms meet anti-money laundering (AML), counter-terrorist financing (CTF), and broader compliance requirements, while also preventing fraud.

When criminal organisations generate illegal profits, they must clean or ‘launder’ the money before it can be safely used in the legitimate economy. This...

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).

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 2025, Know Your Customer (KYC) solutions will become essential for financial institutions looking to enhance their anti-money laundering (AML) frameworks. With increasing regulatory scrutiny, sophisticated financial crimes, and growing customer expectations for seamless onboarding, the sector is witnessing a shift towards decentralised identity (DCI) and perpetual KYC (pKYC). T

The implementation of the 6AMLD on June 3, 2021, marked a significant escalation in the accountability of financial institutions across European Member States.