Anti-money laundering (AML) refers to a set of laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income. Though anti-money-laundering laws cover a relatively limited range of transactions and criminal behaviors, their implications are far-reaching.
British banks are reportedly testing ways to share data to prevent money laundering and terrorism financing. Six or more banks are preparing to participate in...
Although TD Bank has capital on hand to make acquisitions, it reportedly won’t be able to make them in the United States. A Barclays analyst said the regulatory...
The 21st century’s digitization has transformed the financial crime landscape, arming cybercriminals with new tactics. Fortunately, as the world evolves, organizations are increasingly able to fight...
Predictive artificial intelligence (AI) has long been a chief financial officer’s best friend. For years, the cutting-edge tech, better known as machine learning (ML) or...
Regulators’ concerns about TD Bank’s anti-money laundering (AML) practices reportedly ended its plans to acquire First Horizon Bank. The concerns of the Office of the...
Smile Identity has acquired Appruve to expand its digital identity verification solution across Africa. In addition to buying Appruve’s parent company, Inclusive Innovations, Smile Identity is working to finalize...
NICE Actimize has added Suspicious Activity Monitoring (SAM-10) to its Anti-Money Laundering (AML) solutions. The new SAM-10 features artificial intelligence (AI)-based AML transaction monitoring and...
Vulnerabilities in decentralized finance (DeFi) are enabling criminals to transfer and launder illicit proceeds. Both providers of DeFi services and the United States government can...
A recently implemented Economic Crime Levy under the U.K.’s Finance Act 2022 is aiming to help in the fight against money laundering. Details outlined in the...