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.
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...
Germany is reportedly forming a new agency focused on anti-money laundering (AML) and sanctions efforts. The new organization will be called the Federal Authority for...
CSI and Hawk:AI have partnered on artificial intelligence (AI)-powered tools to combat financial crimes. The new collaboration adds Hawk:AI’s anti-money laundering (AML) and fraud prevention...
A United Kingdom regulator has cautioned payments firms that it expects their controls to be “sufficiently robust.” The Financial Conduct Authority (FCA) sent a letter...