How has the current alert-based approach to AML transaction monitoring evolved, and what are its limitations? It hasn’t changed that much since Anti-Money Laundering first became important around 2002 ...

On June 28, 2024, the US Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a notice of proposed rulemaking (“June 2024 NPRM”) to crystalize its long-held expectation that ...

Regulators require that financial services companies take a risk-based approach (RBA) to maintain compliance, which can seem like a heavy burden on businesses in terms of costs, workforce and ...

The Trump Administration has prioritized deregulation, aiming to reduce compliance costs under the Bank Secrecy Act (BSA).

As financial crime grows in scale, speed, and sophistication, banks are increasingly turning to artificial intelligence, ...

The Financial Action Task Force (FATF) unveiled a Money Laundering National Risk Assessment (NRA) resource, designed to enable countries to strengthen their risk-based strategies in combating ...

There is a palpable tension that governs most financial crime programs in the United States. Banks build their AML programs on the principle of risk-based compliance. They say it to regulators, write ...

Lawyers need to understand what this shift means in practice and why the profession must respond strategically rather than ...

Bermuda’s national money laundering threat rating has been raised to high in the latest report by the National Anti-Money Laundering Committee. Bermuda – Report on 2020 Money Laundering and Terrorist ...

According to Fenergo, penalties for breaches of AML, know your customer (KYC), sanctions and customer due diligence (CDD) ...