In terms of the anti-money laundering (AML) landscape and digital fraud, it has been a truly incredible year, for all the wrong reasons.
The easing of lockdown makes it more important than ever to embrace digital KYC and anti-money-laundering (AML) solutions.
Would-be money launderers have not been standing still so attempts to stop them in their tracks need to move with the times too.
Firms must put in place a 'risk-based' approach to prevent money laundering.
Steward says that the FCA needs to “enliven the jurisdiction if we want to ensure it is not a white elephant” and says that is what they intend to do when they find strong evidence of “egregiously poor systems and controls and what looks like actual money-laundering”.
Regtech is one if the fastest growing industries in the world.
Not only is money laundering a crime in itself, but it is an enabler for more serious crime.
Electronic solutions offer the most efficient and reliable identification checks.
