Posts by Arctic Intelligence
Understanding the financial crime risk across your group of businesses
“One of These Things is Not Like the Others…?” Introduction In May 2021, the European Banking Authority (“EBA”) announced that it was consulting on draft guidelines (“Guidelines”) about compliance management and the role and responsibilities of AML/CFT Compliance Officers (“MLROs or AML Officers”). The Guidelines form part of a wider suite of regulatory materials intended…
Read MoreTadeo Claravall – financial crime fighter – book of mentors: practical career advice from leaders in our profession
Anthony Quinn is interviewed by the author, contributing to Tadeo’s book. Follow us on LinkedIn and Twitter for a daily dose of financial crime news across the globe.
Read MoreTimes they are a-changing – and so should your business risk assessment
Introduction – The Dear CEO Letter In May 2021, the UK’s Financial Conduct Authority (“FCA”) issued a “Dear CEO” letter to the retail banking sector. For those not familiar with these, a “Dear CEO” letter (“Letter”) is a tool used by the regulator to convey it expectations in relation to firms’ compliance with certain regulations.…
Read MoreParliament of Australia – submissions on AML/CTF regimes
Arctic Intelligence contributes to the submissions for the Parliament of Australia regarding AML and CTF regimes. Follow us on LinkedIn and Twitter for a daily dose of financial crime news across the globe.
Read MoreParliamentary inquiry – AML/CTF
Arctic Intelligence contributed to the report prepared by the Senate Standing Committee on Legal and Constitutional Affairs in preparation for their published a discussion paper to guide submissions to the AML/CTF Parliamentary Inquiry. Follow us on LinkedIn and Twitter for a daily dose of financial crime news across the globe.
Read MoreEU update – July 2021
Business Wide Risk Assessments are a hot subject We recently wrote about the Dear CEO letter sent by the FCA to Retail banks naming the Business Wide Risk Assessment (BWRA) as an area of concern and one that they need to see significant improvements in. Financial Services aren’t the only firms failing under scrutiny for…
Read MoreNews in brief – July 2021
Americas APAC Europe MENA UK Follow us on LinkedIn and Twitter for a daily dose of financial crime news across the globe.
Read MoreCustomer insights – July 2021
July was full of updates, with the Risk Assessment Platform updated to v1.10, recent regulatory updates from DIA incorporated into the AML Accelerate AML Policy template and CDD Standards template, and the addition of Proliferation Financing risks to AML Accelerate and Risk Assessment. This month we also hosted the AML Accelerate APAC User Forum 2021.…
Read MoreNews in brief – June 2021
AMERICAS ANZ ASIA EUROPE/UK MENA Follow us on LinkedIn and Twitter for a daily dose of financial crime news across the globe.
Read MoreEU update – June 2021
The FCA recently sent a strong worded Dear CEO letter in relation to Financial Crime The letter covers several areas where the FCA are continuing to see firms failing to comply with ML regulations for a number of reasons. There is a common theme throughout, naming a failure to identify risks across differing business units…
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