Insights

Regulatory Roundup: April 2024
Welcome to the April edition of FinScan’s Regulatory Roundup. This month highlights a significant number of AML updates from the FATF, Guernsey, FinCEN, FCA, and the UK’s HM Treasury; new sanctions guidance from the UK, Guernsey, and Cyprus; and the U.S. Treasury’s latest report on managing AI in the financial sector.
How innovation can empower compliance in the modern era
As businesses grapple with the intricacies of compliance, it becomes increasingly apparent that traditional approaches are no longer sufficient. Instead, a paradigm shift is necessary – one that embraces innovation and forward-thinking strategies.
Regulatory Roundup: March 2024
Welcome to the March edition of FinScan’s Regulatory Roundup. This month spotlights outcomes of FATF’s recent plenary and recommendations for public comment, the latest FinCEN requirements and proposals, and new AML guidance from Guernsey Financial Services Commission, OFSI, and OFAC.
Evaluating AML Compliance Solutions: 7 Crucial Criteria You Shouldn’t Ignore
By wielding an intelligent, adaptive screening solution, you can transform navigating regulations from a white-knuckled climb to a strategic trek towards success. The trick is, understanding what you need and how to get there.
Regulatory Roundup: February 2024
Welcome to the February edition of FinScan’s Regulatory Roundup. This month spotlights AML compliance updates from the EU, the Middle East, and the US plus the commencement of new beneficial ownership reporting in the UK and sanctions guidance from the UK.
Effective payment screening in the fight against financial crime
As published in Electronic Payments International
Implementing a comprehensive payment screening programme that incorporates payment screening software to manage all key steps, from screening initiation and alert review to reporting and ongoing testing, is essential in an increasingly complex sanctions universe.
FinCEN’s Beneficial Ownership: Clarity or Confusion?
As published in ACAMS Today
As of January 1, 2024, many U.S. companies must report details of their beneficial owners to the Financial Crimes Enforcement Network (FinCEN). Beyond the reporting requirements, access rules, and likely changes to the CDD rule, what does this all mean for our anti-money laundering (AML) programs?
Changing with the (financial) crimes: Embracing the paradigm shift in modern AML screening programs
Chief compliance and risk officers face multiple AML screening challenges such as ensuring precise data, maneuvering through regulations, and making sure risk mitigation strategies remain relevant and valuable. Data-agnostic approaches, enriched workflows, and monitoring capabilities are becoming more crucial to increasing productivity and prioritizing AML alerts.
Monitoring and Testing: Incorporating Quality Data is Key in Today’s Digital World
As published in ACAMS Today
What does compliance monitoring and testing mean in today’s data-driven world, where customer onboarding and transactions occur at the speed of a click? A new framework for compliance monitoring and testing that addresses ways the digital revolution enables criminals to exploit financial systems for illegal activities is necessary.
AML in 2024: Geopolitics, Regulation, and Data
As published in Finextra
In the rapidly changing landscape of anti-money laundering (AML) practices, the stage is set for a dynamic dance between geopolitics, regulations, and data. Read about the pivotal themes driving the evolution of AML strategies, regulations, challenges, and opportunities in 2024—and how to ensure your risk assessment programs remain in tune with the times.
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