Tag: FATF

Customer due diligence (CDD) has grown from a simple know your customer (KYC) exercise into one of the most demanding parts of the anti-money...

A customer can clear sanctions and politically exposed person (PEP) checks while still presenting risks that structured screening does not identify. A company director...

Standard checks aren't always enough. When a customer or transaction carries more risk than routine screening can handle, firms are required to step up...

Regulatory heat is intensifying across South Africa's financial sector, and headline-grabbing AML fines are only part of the story. A multi-million-rand penalty makes for...

Investment firms have long sold trust as their core product, but generative AI is now testing that promise from every angle. According to ComplyAdvantage,...

The FATF has published a new report warning that underground banking, hawala and other similar service providers (HOSSPs) are increasingly being exploited by professional...

Financial crime compliance is struggling to keep pace with the threats it was built to catch, according to new analysis from Napier AI. The Financial...

Two major financial crime institutions are putting greater emphasis on fragmented data and cross-border intelligence sharing, creating a growing challenge for banks exposed to...

Australian regulator AUSTRAC has compelled bet365 to sign a court-enforceable undertaking after uncovering serious gaps in how the online bookmaker assesses money laundering risk...

Giles Thomson, the new president of the Financial Action Task Force (FATF), has unveiled a multi-year roadmap to tackle fraud losses he says amount...