Tag: financial crime

RegTech pioneer GSS secures $47m in transformative Series A2 funding

Global Screening Services (GSS), a forefront runner in the RegTech industry, has successfully completed its Series A2 funding round, securing over $47m (£37m).
Key AML compliance strategies for wealth and asset managers in 2024

Key AML compliance strategies for wealth and asset managers in 2024

In an era where regulatory oversight of the wealth and asset management sector is intensifying globally, the stakes for compliance have never been higher. This sector, pivotal to national economies, plays a crucial role in helping consumers manage their assets and achieve their financial goals. However, its significance also makes it a potential target for misuse by malicious entities aiming to launder money.

5 reasons why asset managers must embrace FCC automation

In an era where digital transformation is paramount, asset managers are recognising the indispensable role of automating Anti-Money Laundering (AML) processes.

AMLA’s new home in Frankfurt: Strengthening EU’s fight against financial crime

In a significant announcement made in February, the Council of the European Union revealed that Frankfurt has won the competitive bid to host the Anti-Money Laundering Authority (AMLA), marking a pivotal moment for regulatory oversight within the EU.

AI emerges as the top threat for UK’s regulated firms in...

In the UK, the deployment of artificial intelligence (AI) is perceived as the principal threat for over half of the regulated firms this year. A...
Streamlining AML compliance: The future of FinTech operations

Streamlining AML compliance: The future of FinTech operations

In the ever-evolving landscape of financial services, maintaining regulatory compliance is not just a legal requirement but a strategic advantage. As financial institutions navigate...

Hawk AI welcomes new general manager Robin Lee

Hawk AI, a front-runner in AI-driven solutions for fraud and anti-money laundering (AML) surveillance, has recently announced the strategic appointment of Robin Lee as General Manager for the Asia-Pacific (APAC) region.
AML challenges and digital transformation: What 2024 holds for financial services

AML challenges and digital transformation: What 2024 holds for financial services

As we step into the second month of 2024, financial institutions (FIs) and regulated entities face a future that is anything but certain. Following...
4 critical AML use cases for AI

4 critical AML use cases for AI

The relentless advancement of artificial intelligence (AI) in banking is a game-changer in the ongoing war against financial crime. Financial institutions of every size...

Enhancing onboarding: The strategic edge in bank customer due diligence

In the competitive landscape of banking, customer onboarding emerges as a pivotal phase, with customer due diligence standing at its core. When managed poorly, the onboarding process can deter potential clients, causing banks to miss out on new revenue streams. Conversely, hasty or inaccurate due diligence could lead to the acquisition of customers who pose commercial and reputational risks, potentially incurring hefty regulatory fines.

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