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News

News in Brief – June 2021

Arctic Intelligence | News in Brief June 2021

AMERICAS Stephen Calk, founder and former CEO of The Federal Savings Bank, is being prosecuted in New York for bribery. He is accused of approving multi-million dollar loans to fund Trump’s 2016 campaign in exchange for a White House appointment. Find out about more about our anti-bribery and corruption solution here. Former CANNTRUST executives charged…

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EU Update – June 2021

Arctic Intelligence | EU 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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Dear CEO… FCA address repeat compliance failings

Arctic Intelligence | FCA send warning to those with financial crime compliance failings

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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What we are hearing – May 2021

Arctic Intelligence | What we're hearing - May 2021

It’s been another big month of financial crime news… In Europe, the largest mafia trial in 30 years is under way with 350 defendants including politicians and public officials.  The Italian mafia’s estimated annual turnover is around £44bn (larger than Deutsche Bank and McDonalds combined!), making them one of the richest criminal organisations in the…

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News in Brief – May 2021

Arctic Intelligence | News in Brief - May 2021

AFRICA Ghana expected to be removed from the EU money laundering watch list following a meeting with the President of the European Council, His Excellency, Charles Michel and President Nana Addo Dankwa Akufo-Addo Federal Government is profiling a number of high profile Nigerians who are allegedly have links to terrorism financing AMERICAS FinCEN have introduced…

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News in Brief – April 2021

Arctic Intelligence | News in Brief - April 2021

AFRICA 66-year old ‘Hotel Rwanda’ hero, Paul Rusesabagina has been detained in his home country and is facing a slew of terrorism-related charges that include murder and financing terrorism The Corporate Affairs Commission (CAC) and the Nigerian Financial Intelligence Unit (NFIU) have announced a collaboration to boost Nigeria’s fight against financial corruption and funding terrorism…

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EU Update – April 2021

Arctic Intelligence | EU Update - April 2021

ABN AMRO fined (again!) OPINION: The Dutch bank will pay a total of €480 million for violating the Anti-Money Laundering and Counter Terrorism Financing Act (AML/CTF Act). These violations include failing to spot accounts involved in money laundering, failing to end relations with suspicious clients and failing to report these transactions to authorities. This is…

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Arctic Intelligence’s enterprise risk assessment software adopted by PwC

Arctic Intelligence | PwC adopt Arctic Intelligence's financial crime risk assessment software

Arctic Intelligence recognised as a leading regulatory technology provider by one of the top 4 consultancies in the world PRESS RELEASE: Arctic Intelligence was chosen by PwC UK to enhance their Risk Assurance offering. The combination of PwC’s consultancy expertise and Arctic Intelligence’s award-winning technology aims to deliver a comprehensive enterprise view of PwC’s client’s…

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News in Brief – March 2021

Arctic Intelligence | News in Brief March 2021

AFRICA The Association of Bureau De Change Operators of Nigeria (ABCON) says 26 members have been arrested by security operatives, over alleged unlawful foreign exchange (FX) transactions by the Department of State Security Services (DSS) AMERICAS One of California’s most profitable card rooms in the Bay Area was fined $5.3m by California state for violating anti-money…

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EU Update – March 2021

Arctic Intelligence | EU Update March 2021

UK regulator has launched criminal proceedings against NatWest in a £365millon money laundering scandal. It is alleged that £365million was paid into a NatWest customer account over a period of 5 years, and that “controls failed to adequately monitor and scrutinise this activity”. The real headline though is that £264 million of those funds were…

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