Announcements

EU Update – August 2020

Online Real estate agent fined for breaching UK AML regulations Purplebricks were fined £266,793 by HMRC for breaching UK anti-money laundering rules. This can only shine a brighter light on the real estate sector as a whole, high street and online alike.The description of these breaches was stated by HMRC as “failures in carrying out…

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Arctic Intelligence welcomes new client African Bank Limited

Arctic Intelligence is delighted to announce African Bank Limited’s (ABL) recent procurement of their AML solution, AML Accelerate. As a global RegTech firm, Arctic Intelligence has designed risk assessment and audit and assurance solutions pertaining to financial crime risk and compliance matters to help regulated entities manage their compliance obligations. African Bank joins hundreds of…

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Global RegTech firm Arctic Intelligence welcomes South African based consultancy, FCRMC to their partner network

PRESS RELEASE: Arctic Intelligence continues to strengthen their partner ecosystem by welcoming a new addition to their global alliance network. This strategic partnership with Financial Crime Risk Management Consultants (FCRMC Pty Ltd) will harness support across the African region.   Imelda Newton, Chief Revenue Officer from Arctic Intelligence is thrilled to extend their global footprint and…

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Arctic Intelligence expands global reach with a new UK based client

Arctic Intelligence has launched AML content tailored for UK and expanded its global presence with the addition of a new UK based client, Castle Harbour Securities. Castle Harbour, a boutique financial firm, offers a wide range of merchant banking services from their offices in London and Bermuda. Graham Cade, Chief Executive Officer, commented “Following a…

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Arctic Intelligence expands global reach with first North American client

Arctic Intelligence has expanded its global presence with the addition of its first North American client, Bendix Foreign Exchange and Payment Solutions. With operations in Canada and USA, Bendix Foreign Exchange is a leading provider of integrated foreign exchange and global payments solutions that conducts business globally. Mathew Varghese, Chief Compliance Officer, commented“Risk Management is…

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Arctic Intelligence wins RegTech Start-Up of the Year

Arctic Intelligence has won the RegTech Start-Up of the Year award at the fourth annual FinTech Awards 2019. The award was given to Arctic Intelligence in recognition of its industry-leading risk assessment and compliance solutions, designed to assist regulated businesses in meeting their anti-money laundering compliance obligations. Arctic Intelligence COO, Darren Cade said, “We’re delighted…

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Concerns over use of spreadsheets to manage AML compliance

In a recent industry presentation to risk and compliance managers in Australia by regulatory software provider Arctic Intelligence, an audience poll revealed 54% of respondents listed reliance on spreadsheets for risk assessment which may no longer be fit-for-purpose for conducting anti-money laundering (AML) risk assessments as one of their top three concerns.  The poll also…

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FMA NZ cracks down on non-compliant AML/CFT programmes

The Financial Markets Authority (FMA) has issued formal warnings to 10 reporting entities under Section 80 of the Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT Act). The FMA carried out a risk-based assessment of independent audit reports for reporting entities it supervises in February this year, targeting 69 reporting entities. The FMA supervises…

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