Financial crime is a significant problem estimated to cost the global economy over $1.45 trillion dollars every year and causes unimaginable social harm and suffering to millions of people.
Despite spending billions of dollars to prevent financial crime it is estimated that only 1% of criminal proceeds is every recovered.
Organised criminal networks are sophisticated and successfully launder billions of dollars every year through financial institutions and other gatekeepers to the financial system.
Many regulated businesses and the regulators that oversee them, often lack both the capacity and capability to adequately manage their financial crime risk exposures and are simply not equipped to defend our financial markets from abuse by organised criminal networks.
There are now millions of regulated entities that are required to comply with detailed, complex and constantly changing financial crime laws and regulations like anti-money laundering and counter-terrorism financing, anti-bribery and corruption, fraud, sanctions and tax evasion.
Many of these businesses do not have access to affordable subject matter expertise and technology solutions to help them meet their regulatory compliance obligations or are using outdated manual systems that are not fit-for-purpose in managing their risks.
Arctic Intelligence was founded in late 2015 with the belief that in order to make an impact on the financial crime problem that it was necessary to combine deep domain expertise with world-class technology to provide regulated entities, regardless of their size, sector or geographic location with the necessary tools to manage audit, risk and compliance programs.
ARCTIC stands for Audit, Risk, Compliance, Technology Innovation Company. Intelligence talks to the way our solutions deliver actionable business intelligence on audit, risk and compliance data.
Arctic Intelligence is now a market-leading Regulatory Technology (RegTech) business that enables audit, risk and compliance ‘as-a-service’ through technology.
Today, we’re trusted by clients of all sizes from sole traders through to multi-national corporations and from across a diverse range of industry sectors including banking, insurance, credit unions, foreign exchange, money remittance, digital currencies, wealth and asset managers, and lawyers, accountants and real-estate agents.
We work with many professional advisers who utilise our technology when servicing their clients.
Our vision is to be global leaders helping to raise the bar on financial crime risk management through the smart use of technology made accessible and affordable to all.
“After 20 years of risk management consulting experience we have developed a suite of market-leading audit, risk and compliance platforms making these accessible and affordable to all regulated entities, regardless of their size, industry sector or geographic location.”
We help organisations raise the bar in business through our proprietary technology platforms that enable companies to better manage audit, risk and compliance. We drive greater transparency and accountability across organisations.
We believe that all organisations should have access to affordable advice and technology which will keep them in line with regulations and in compliance with laws, reducing financial crime risk exposures with minimal disruption to their business.
What we stand for
We care passionately about preventing financial crime and are committed to working with industry, regulators, professional services and regulatory technology companies to reduce the negative effects of financial crime on our world.
THE ARCTIC INTELLIGENCE
Arctic Intelligence* was founded by Anthony Quinn
Arctic Intelligence raises pre-seed capital (undisclosed)
Arctic Intelligence accepted into Stone & Chalk
Arctic launches the Health Check platform
Arctic lands Deloitte as our first client
AML Accelerate was formed as a joint venture between Arctic Intelligence and Initialism
AML Accelerate was launched
AML Accelerate reaches its first 50 clients
Arctic Intelligence closes $2.8m pre-series A funding round
Arctic Intelligence completes a full acquisition of AML Accelerate
Arctic Intelligence signs up our 100th client.
* Arctic Intelligence is the trading name of Financial Crimes Consulting Pty Ltd
AML Accelerate is a fantastic tool – for Xinja, who is striving to be Australia’s first truly independent 100% digital neobank, this helped establish our AML Program.
Xinja, Chief Risk Officer
The Arctic team has put together an outstanding platform that explains in everyday language the AML/CFT rules affecting our businesses.
Nathan van den Bosch
CEO - Bitcoin Trader
Arctic has developed a unique platform that will fundamentally change how AML/CFT risk assessments and AML/CFT program manuals are developed across a diverse range of industry sectors, including gaming and wagering.
William Hill - Compliance Manager (AML/Fraud/Responsible Gambling)
Knowing that we have the technology supporting our business gives us an exceptional degree of confidence that we will be meeting and exceeding regulatory expectations moving forward.
CEO - Lex Exchange
Arctic Intelligence is a logical, simple to use online resource ran by a team that are always helpful and informative. The resource can assist organisations when developing and reviewing their policies and procedures to address financial crime risks, including money laundering. In turn, organisations can implement operational controls designed to comply with relevant laws and obligations and prevent financial crime activities.
If you think compliance is expensive, try non-compliance. Paying for the right tools, systems and resources always pays off!
Arctic has intuitive platforms that take away much of the ambiguity associated with the development of an effective risk assessment and AML/CFT programs. It is clear that it has been designed by industry experts who have a genuine passion for removing the complexity of compliance.
OFX - Head of Compliance APAC (2017)
Very impressed with the technology and how easy it was to navigate. I did not have any prior training, however it only took a couple of pages to understand how it works.