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Facebook Pinterest Twitter Linkedin Find out how the 2023 De-Risking Strategy impacts your finances! The US Department of Treasury issued the new De-Risking Strategy for 2023. Congress mandates it upon the Anti-Money Laundering Act of 2020. A new and improved strategy works by examining the causes of risk posed to financial institutions, addressing the de-risking, …

The U.S. Department of Treasury Unveils Bold De-Risking Strategy 2023 Read More »

Facebook Pinterest Twitter Linkedin Today, another big player has entered the market with great thrust. Castellum.AI announced the release of its first Free Anti-Money Laundering (AML) and Know Your Customer (KYC) check. By far, one of the most accurate, reliable, and fastest risk data, Castellum.AI allows frictionless KYC/AML screening globally. Peter Piatetsky, CEO of Castellum.AI  …

Castellum.AI Introduces World’s first Free KYC/AML Check Read More »

Facebook Pinterest Twitter Linkedin Each year, Hundreds of Millions of pounds are laundered through cash deposits using Post Office as an old-school and safe channel. The Post Office has implemented stringent measures to safeguard the cash deposit system to reduce Money Laundering. The Financial Conduct Authority said that it has brought the agencies like NECC …

Revolutionary Strategy Unveiled by UK’s Post Office to Combat Money Laundering and Safeguard Cash Deposits Read More »

Facebook Pinterest Twitter Linkedin Another move for strengthening KYC (Know Your Customer) onboarding has been made and two renowned KYC and RegTech firms have now partnered to provide Plug-and-Play client onboarding solutions. Kyckr is a corporate KYC firm and Blacksmith KYC is a RegTech venture of ING Bank. They both have seen potential in partnering …

Kyckr and Blacksmith KYC have Teamed up to Provide a Plug-and-play Solution for Enhanced Client Onboarding Read More »

Facebook Pinterest Twitter Linkedin April 18, 2023 The US Department of Homeland Security along with other government agencies announced multiple actions including sanctions against an individual named Nazem Ahmad for being involved with the terrorist organization Hizballah. The United States has sanctioned him under the Global Terrorism Sanctions Regulations (GTSR). Several other individuals are also …

Several Actions Against International Diamond/Art Organization for Money Laundering Ties with Hizballah Read More »

Facebook Pinterest Twitter Linkedin The Wolfsberg Group updated its 2017’s Anti-Bribery and Anti-Corruption Guidelines and published the new version yesterday. It promotes the culture of ethical business and compliance with ABC legal requirements. This guidance is a Risk-Based Approach for adequate development and implementation of compliance programs to detect, prevent and report Bribery and Corruption …

Wolfsberg Group publishes its updated Anti-Bribery and Corruption Guidelines and Promotes Ethical Business Practices Read More »

Facebook Pinterest Twitter Linkedin Panama is highly committed to getting its name cleared and removed from the Money Laundering ‘Gray List’. It is implementing a registry of company ownership which is part of its final steps in getting itself removed from the G7 list. According to Financial Times, Panama was earlier listed as G7’s notorious …

Panama Hopes to Exit the Money Laundering ‘Gray List’ Soon Read More »

Facebook Pinterest Twitter Linkedin Reuters reported yesterday that Estonia’s state prosecutor had charged six ex-employees of Danske Bank in money laundering worth $1.6 billion and 6 million euros. This happened at the defunct office of Danske Bank in Estonia on Monday. Danske Bank’s operations in Estonia became the hot cover story in the compliance industry …

Estonia Charges Six Danske Bank Ex-employees for Money Laundering Read More »

Facebook Pinterest Twitter Linkedin Sumsub released the Complete Guide to Transaction Monitoring, which is a global software firm that offers scalable KYC, KYB, and AML solutions for the entire customer experience to offer a comprehensive overview of transaction monitoring as a vital component of the verification system. As per this Guide, transaction monitoring is essential …

Regtech Sumsub Offers a ‘Complete Guide to Transaction Monitoring’ to Fight Against Fraud and Ensure Compliance for Businesses Read More »

Facebook Pinterest Twitter Linkedin Failure to Fraud Prevention offense to the Economic Crime and Corporate Transparency Bill is approved by parliament. Answering 11 crucial questions related to fraud prevention, this policy paper explains different aspects of the UK’s policies, discusses loopholes in the anti-fraud measures taken by companies, and other relevant concerns. It mainly focuses …

UK’s Government Introduces Policy Paper on Failure in Fraud Prevention Offence Read More »