Tag: money laundering

Money laundering is the process of disguising the proceeds of criminal activity as legitimate funds in an effort to conceal their illicit origin.

Key European FinTech investment stats in Q1 2024: • European FinTech deal activity totalled at 333 deals in Q1 2024, a 41% reduction from the...

Politically Exposed Persons (PEPs) represent a significant risk for money laundering and corruption within the financial sector. Alessa, a leading provider of Anti-Money Laundering (AML) compliance software, emphasises the critical importance of accurately identifying and screening PEPs before any business engagement.

In the ever-evolving landscape of financial crimes, firms across the globe are grappling with the challenge of safeguarding their operations and reputation. Among the myriad of schemes that threaten the integrity of financial institutions, Business Email Compromise (BEC) stands out for its cunning simplicity and potentially devastating impact.

The significance of modern Anti-Money Laundering (AML) compliance cannot be overstated, especially in an era where digitalisation is a cornerstone of our daily interactions....

Arctic Intelligence, a leader in RegTech solutions, has recently unveiled a 14-day obligation-free trial of its acclaimed AML Accelerate platform.

With the industry's focus on rapid growth and market domination, the critical role of risk assessment in preventing money laundering, terrorist financing, and other illegal activities is frequently sidelined. This negligence can lead to severe consequences, including regulatory fines and reputational damage, ultimately impeding a company's ability to compete.

Lynx, which focuses on detecting and preventing fraud and financial crimes, has closed its Series A funding round on €17m.

Swiss authorities recently took action against the daughter of Uzbekistan's former president, accusing her of crimes such as money laundering and bribery. This resulted in an asset freeze to the tune of $483m.

Financial institutions play a pivotal role in preventing money laundering. Over the past 18 months, government bodies have frequently highlighted shell companies as significant red flags in anti-money laundering (AML) activities. Consequently, one must ask, is your institution actively identifying shell companies in its transactions? More importantly, can it detect shell companies with tangible sanctions and watchlist links?