Tag: FATF

Between $800bn and $2tn is laundered globally each year, placing immense pressure on financial institutions to deploy robust transaction screening and monitoring systems. When...

The Financial Action Task Force (FATF) has updated its list of monitored jurisdictions, adding Bolivia and the British Virgin Islands (BVI) to its grey list while removing Croatia, Mali and Tanzania.

Traditional retail banks are under pressure as FinTechs and neobanks continue to draw customers away with faster, more intuitive digital services. Built on flexible,...

Australia has taken a significant step in tightening its anti-money laundering regime with the passage of the AML/CTF Amendment Bill in November 2024. The reforms aim to enhance enforcement against financial crime and bring the country closer in line with global standards set by the Financial Action Task Force (FATF).

As financial institutions double down on efforts to detect money laundering and fraud, automated systems have become indispensable to AML operations. Yet these tools...

KYC Portal CLM has unveiled a powerful new feature designed to give compliance teams deeper control over client data: the Field-Level Audit Trail. This latest tool brings precision auditing capabilities to individual fields within onboarding and company forms, allowing teams to instantly track the full history of any change at the click of a button.

As financial crime grows more sophisticated and regulatory demands intensify, many organisations still rely on Excel to manage risk assessments. While familiar and flexible,...

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

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.

Money laundering is a serious global issue that enables grave crimes such as drug trafficking, human smuggling, and terrorism. For businesses handling significant financial...