Insights

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.
Regulatory Roundup: January 2024
Welcome to our first edition of Regulatory Roundup—a special blog series highlighting some of the latest and significant regulatory news and insights in the AML compliance space. We’ll delve into the major themes that have emerged recently, from compliance culture to cryptocurrency, from new sanctions and enforcement efforts to artificial intelligence (AI) regulations.
Unlocking the Potential of AI in AML
As published in A-Team Insight
In the dynamic landscape of AML, the integration of artificial intelligence (AI) has emerged as a transformative tool. This article by Director of FinScan Advisory Services, Steve Marshall, published by A-Team Insight, distills essential considerations for institutions deploying AI in AML, emphasizing a responsible and collaborative approach.
Binance Debacle – What Haven’t We Learned?
As published in Finextra
The Binance situation should prompt organizations to reevaluate and reinforce their internal controls, focusing particularly on the human element. Read on for guidance on how to avoid similar incidents.
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