How has the current alert-based approach to AML transaction monitoring evolved, and what are its limitations? It hasn’t changed that much since Anti-Money Laundering first became important around 2002 ...

As the Trump administration signals interest in reforming AML regulations, the industry must come together in support of new rules that promote efficiency and effectiveness in the fight against ...

On June 28, 2024, the US Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a notice of proposed rulemaking (“June 2024 NPRM”) to crystalize its long-held expectation that ...

The Trump Administration has prioritized deregulation, aiming to reduce compliance costs under the Bank Secrecy Act (BSA).

Regulators require that financial services companies take a risk-based approach (RBA) to maintain compliance, which can seem like a heavy burden on businesses in terms of costs, workforce and ...

The Financial Action Task Force (FATF) unveiled a Money Laundering National Risk Assessment (NRA) resource, designed to enable countries to strengthen their risk-based strategies in combating ...

There is a palpable tension that governs most financial crime programs in the United States. Banks build their AML programs on the principle of risk-based compliance. They say it to regulators, write ...

Lawyers need to understand what this shift means in practice and why the profession must respond strategically rather than ...

According to Fenergo, penalties for breaches of AML, know your customer (KYC), sanctions and customer due diligence (CDD) ...