Blog
Customer Insights – December 2020
Have you created your 2020 AML/CTF Program? If you have not yet reviewed and updated your AML/CTF Programs and ML/TF Risk Assessments for 2020, there is still time. With AML Accelerate it is very quick and easy to copy your last year’s AML Program to create your 2020 AML Program documents. Please see the easy-to-follow…
Read MoreEU Update – December 2020
Vatican to revamp AML unit following the latest in a long line of scandals. The renamed Supervisory and Financial Information Authority (ASIF) functions include “supervision aimed at the prevention and countering of money laundering and the financing of terrorism,” Though the Vatican has had a history with allegations and cases of corruption, the changes made…
Read MoreWhat we are hearing – December 2020
As we near the end of 2020, a year that most would be happy to forget, this newsletter is focussed around some reflections on the year that was (not) and potential risk and compliance trends that we are predicting for the year(s) ahead… Looking back at 2020 Well January to March was pretty good, until…
Read MoreNews in brief – December 2020
APAC The Financial Planning Association (FPA) believe that complying with the Privacy Act should be made a responsibility of all financial services companies, not just reporting entities who are subjected to the Anti-Money Laundering and Counter Terrorism Financing Act 2006 Assembly Payments has reached a milestone in 2020 by surpassing $4 billion of its own…
Read MoreArctic Intelligence recognised in the top 100 RegTech companies in the world
Specialist research firm RegTech Analyst names Arctic Intelligence in top 100 RegTech leaders as they announce the world’s most innovative technology solution providers transforming compliance, risk management and cybersecurity. Arctic Intelligence receives another accolade in 2020 by achieving a place on the prestigious RegTech100 list. RegTech100 is ranked by a panel of analysts and industry…
Read MoreNews in Brief – November 2020
AUSTRALIA AML reform laws known as Tranche 1.5 has passed in the lower house in Australia. There is a 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…
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 MoreWhat we are hearing – November 2020
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. In Australia, we saw the AML law reforms known as Tranche 1.5 pass through the lower house, and the Greens took the initiative to…
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 adopting technology has helped to manage their AML/CTF regime. We also explain how you can influence which new features are added to AML Accelerate. Customer Spotlight Michelle Milts is the AML/CTF…
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…
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