Tag: Risk-based Approach

Financial crime risk assessments used to be treated as box-ticking exercises — annual documents produced to keep regulators satisfied, then filed away until the...

Financial institutions know that regulators rarely judge an AML programme on policy documents alone. When examiners test whether controls work in practice, they often...

The US Office of the Comptroller of the Currency (OCC) has updated its Bank Secrecy Act and Anti-Money Laundering (BSA/AML) examination procedures for community...

Gatekeeper professions – from law firms and accounting practices to estate agents and trust service providers – face increasingly difficult compliance terrain. As financial...

Sanctions screening has become a crucial line of defence in the fight against financial crime, helping to prevent professional and financial services from being...

Financial institutions worldwide continue to face hefty penalties for shortcomings in anti-money laundering (AML) procedures, with fines often reaching into the tens of millions. Napier...

The risk-based approach (RBA) has become a central pillar of financial crime compliance worldwide, replacing outdated one-size-fits-all models with flexible frameworks that adapt to...

As financial crime compliance becomes increasingly complex, many banks continue to rely on outdated anti-money laundering (AML) systems, choosing to layer new technology over...

The RBA to AML and CTF offers a strategic framework for gatekeeper professions such as lawyers, accountants, real estate agents, and TCSPs. This approach is...

In a move to modernize AML/CFT frameworks, the U.S. Department of the Treasury's FinCEN has unveiled a proposal under the Anti-Money Laundering Act of 2020.