Tag: financial institutions

Banks, money services businesses, and other financial institutions are bound by U.S. laws to establish anti-money laundering (AML) procedures. Implementing identity verification, regulatory reporting, and risk management can be intricate, lengthy, and costly.

Financial institutions often fall prey to money launderers who exploit these platforms to funnel, mask, transfer, and cleanse ill-gotten gains. This doesn’t just endanger the specific institution but imperils the credibility of the entire financial system.

Correspondent banking plays a pivotal role in shaping the global financial landscape. Serving as the backbone of international trade, especially for budding and developing...

PEPs are a key topic of discussion right now. Fenergo recently took the chance to dip deeper on PEPs and the fight against financial crime. 

Flagright recently detailed how financial industry companies can manage third-party risks in compliance solutions.

Flagright, renowned as a global force against financial crime, has formally announced its collaboration with the Anti-Human Trafficking Intelligence Initiative (ATII).

The Office of the Superintendent of Financial Institutions (OSFI) is taking strides to adapt to the rapidly changing digital asset landscape. Reflecting the shifting risk environment and emerging global patterns, OSFI is introducing modifications to its capital and liquidity guidelines for crypto-assets.

SecurityScorecard's latest research, centred on the looming Digital Operational Resilience Act (DORA) compliance deadline of January 2025, reveals a disturbing level of third-party and fourth-party cybersecurity breaches among Europe's largest financial institutions.

Flagright recently shone a light on the topic of fraud detection in FinTech, with a battle against synthetic identity theft ongoing.

Sigma, recently ranked in the AIFinTech100 for 2023, is driving innovation with AI to offer robust and scalable risk management solutions. Their unique use of AI technologies makes the platform indispensable for current and prospective clients.