Money laundering is a serious crime that can have devastating consequences. It involves taking illegally-sourced money and making it appear as if it were obtained from legitimate sources. Business owners need to take the necessary steps to ensure their company…
The very first step your financial institution must take when servicing the Cannabis business industry is to correctly identify if the business or the beneficial owner is high risk.
In sanctions screening, financial institutions constantly face a false positives conundrum: They can’t live with them, but they can’t live without them, either.
Confused by all those AML terms and acronyms? In this handy glossary, you’ll find over 120 common AML/CFT words, phases, and abbreviations, as well as a rundown of the major regulatory bodies dedicated to fighting AML/CFT.
As adverse media screening (AMS) gets harder to do, setting your AMS system up right has never been more critical to your organization’s reputation, compliance, and workflow. It’s dammed if you do. Dammed if you don’t.
The KYC2020 Guide to PEP Screening: What features and technologies should you look for in today’s PEP data and screening solutions?
What is PEP risk, and why is it so critical to your AML/CFT compliance that you need to effectively screen for it?
Screening for PEPs is a critical part of your financial institution’s risk-based AML/CFT program. In this article, we define what a PEP is and identify some of the biggest challenges that stand in the way of a good PEP screening system.
What are the core AML compliance solutions credit unions need to be AML/CFT compliant and still maintain their competitive advantage in the years to come? As credit unions continue to grapple with a growing mountain of costly and complex financial…
What unique challenges are credit unions facing in their AML compliance heading into 2021? This is the second article of our three-part series on AML compliance among today’s credit unions. Anti-money laundering (AML) compliance has always been a significant burden…