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.
Money launderers “wash” more than $2 trillion in the global economy each year, despite the best efforts of financial institutions (FIs) and governments. Much of...
FIs with insufficient digital identity protocols risk being hit with a one-two punch from debilitating money laundering schemes as well as stiff government agency penalties...
Decentralized finance (DeFi) is supposed to be the ultimate expression of democratic governance. There is no human management, no incorporation in any jurisdiction and all...
FIs face the daunting task of offering smooth, remote onboarding processes for commercial clients, but advanced technology can help. In the Next-Gen Commercial Banking Tracker,...
The Estonian unit of Swedbank AB is a suspect in a money-laundering investigation, after a special white-collar crime investigator with Estonia’s Central Criminal Police notified...
Singapore-based financial crime prevention firm Silent Eight has closed a $40 million Series B funding round, the company said in a news release Wednesday (March...
The Financial Action Task Force, an intergovernmental agency that fights against money laundering, will soon put the United Arab Emirates on its so-called “gray list”...
AnnaLou Tirol, deputy director of money laundering and terrorist financing watchdog Financial Crimes Enforcement Network (FinCEN), on Thursday (March 3) told attendees at AML Intelligence’s...