The Fintech Times

AUGUST 17, 2024

From a global standpoint, financial regulators levied 80 fines in the first half of 2024, totalling $263,252,003 for non-compliance with anti-money laundering (AML) regulations. This includes know your customer (KYC), sanctions, suspicious activity reports (SARs), and transaction monitoring violations. What is causing the fines?

APACS 59

APACS Suspicious Activity Report (SAR) Office of the Comptroller of the Currency Financial Crimes 59

FICO

JUNE 12, 2020

Stopping financial crime in Australia is an age-old problem, but today’s criminals have become so sophisticated that long-standing anti-money laundering (AML) systems and processes are no longer keeping up. Convergence—that is, bringing together fraud and AML functions—will be key, as well as moving on from rule-based AML systems.

Financial Crimes 52

Financial Crimes Crime Money Laundering AML 52

FICO

FEBRUARY 27, 2019

Most respondents (62%) said that a lack of resources was the biggest reason APAC banks remained exposed; 25 percent cited a lack of expertise while 13 percent indicated it was political constraints imposed by government. Asian Money Laundering Scandals: AML Solution Capabilities. It is a large problem to solve.

Money Laundering 45

Money Laundering Breach AML APACS 45