October 2021 4th Edition

Featured Articles

AML Risk Assessment and Transaction Monitoring Tool

Banks and financial institutions are required to monitor client transactions for indicators of money laundering activity in order to meet AML/CFT compliance requirements. However, because that process requires companies to collect and analyze a large quantity of data, manual transaction monitoring may be resource-intensive, time-consuming, and fraught with costly human mistakes. AML transaction monitoring software, on the other hand, assists companies in mitigating such variables, boosting accuracy and efficiency, and improving a firm’s compliance performance. Firms should understand not only

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Investigations implicate high-level public officials & private sector intermediaries around the world The release of the Pandora Papers last Sunday has provided an opportunity to take a comprehensive look at the underworld of the offshore industry. The Pandora Papers is a large-scale investigative project by the International Consortium of Investigative Journalists,

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Ransomware Payments in 2021 Already Dwarf Last Year’s Total, FinCEN Reports

FinCEN identified over $5 billion in transactions tied to ransomware payments based on $590 million detailed in Suspicious Activity Reports.  Payments tied to ransomware attacks in 2021 are already exceeding 2020′s total, the U.S. government’s financial crimes watchdog said Friday. Exchanges and other financial institutions reported more than $590 million

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