Insights
News in Brief – November 2020
AUSTRALIA AML reform laws known as Tranche 1.5 has passed in the lower house in Australia. Motion from the Greens to extend laws to professions such as lawyers, realtors, company and trust service providers alike. These professions are typically exploited by financial criminals to launder their proceeds. AUSTRAC have announced they are preparing up to…
Read MoreEU Update – November 2020
EU To Establish Bloc-Wide AML Regulator By March 2021 After an agreement with finance ministers, the European Union will move forward in creating a bloc-wide financial crime compliance authority. It is hoped that the new authority will coordinate and enforce AML rules by March 2021. They will directly oversee country regulators and financial institutions and…
Read MoreNovember 2020 – Founder Note
In November, we have seen interest in the financial crime risk and compliance management space continue to grow with continuous media coverage on compliance issues popping up in all corners of the world. This growing wave of coverage brings home that you don’t really know who is swimming naked until the tide goes out –…
Read MoreCustomer Insights – November 2020
This month we shine a spotlight on one of the most active members of our community, Suncorp’s Financial Crimes Team, to find out how technology . We also explain how you can influence which new features are added to AML Accelerate. Customer Spotlight Michelle Milts is the AML/CTF Manager at Suncorp and was kind enough…
Read MoreThe Importance of RegTech in Financial Crime Risk Management
How RegTech & financial crime risk management technologies can benefit your business and society As the impact of financial crime continues to grow, both on businesses and society in general, more and more organisations are recognising the importance of adopting RegTech within their risk mitigation strategies. The cost of implementing regulatory technologies, or RegTech, to…
Read MoreArctic Intelligence appoints Darren Cade as CEO
PRESS RELEASE: Global RegTech firm Arctic Intelligence is accelerating into its next phase of growth with its financial crime risk management solutions by promoting Arctic’s longstanding COO, Darren Cade to CEO, taking over from Anthony Quinn, Arctic’s Founder. As Arctic’s COO for the last 4 years, Darren has successfully led the product, technology, finance and…
Read MoreCustomer Insights – October 2020
In this months newsletter we share some insights from the roundtable event with our Canadian customers, and provide answers to the latest questions on conducting risk assessments in AML Accelerate and Risk Assessment. Roundtable Event Earlier this month, we held a roundtable event with our Canadian credit union community of customers to discuss the challenges…
Read MoreEU Update – October 2020
Compansies House Reform The UK’s company registrar, Companies House are set to reform procedures to clamp down on fraud and money laundering. In April 2016, the UK led the way by introducing the Persons with Significant Control (PSC) Register, or better known as a Ultimate Beneficial Owner (UBO) database. It became a requirement for any…
Read MoreNews in Brief – October 2020
This year we have witnessed some of the largest fines in history with many international financial services organisations and other regulated entities under scrutiny from regulators. As the business landscape adapts to the pandemic, we are seeing authorities provide businesses direction on how to protect themselves from vulnerabilities to financial crime such as AML guidance,…
Read MoreOctober 2020 – Founder Note
October has been another busy month for Arctic Intelligence and for the financial crime compliance community as whole, as momentum is solidly building in the mainstream and social media, below are some of the key AML highlights from this month. In Australia, it’s all been happening – Firstly, AUSTRAC announced in a media release that…
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