News
Businesses need to assess money laundering risk more frequently
In a recent industry presentation to credit unions and mutual banks in Australia, by Arctic Intelligence, a provider of financial crime prevention audit, risk and compliance software, an audience poll found that many businesses vulnerable to money laundering and other financial crime may not be conducting a comprehensive risk assessment often enough. While half of…
Read MoreArctic Intelligence warns many Australian businesses may be vulnerable to financial crime
Arctic Intelligence, a market-leader in financial crime prevention audit, risk and compliance software, warned today that many Australian businesses may be unaware that their internal risk assessment processes do not go far enough; leaving them vulnerable to money laundering, terrorist financing, sanctions and regulatory non-compliance. With organised crime is estimated to cost the Australian economy…
Read MoreImelda Newton joins Arctic Intelligence as Business Development Manager
Arctic Intelligence is pleased to announce that Imelda Newton has joined Arctic Intelligence as Business Development Manager in Sydney. With more than 20 years’ experience in the financial services technology sector, Imelda will develop Arctic Intelligence’s global expansion, working closely with strategic partners and helping to drive customer success. Before moving to Arctic Intelligence, Imelda…
Read MoreArctic Intelligence partners with Deloitte to adopt a smarter approach to financial crime compliance
Arctic Intelligence, a regtech leader in regulatory compliance and risk management has signed a three year partnership with Deloitte to help organisations globally manage their financial crime risk and exposure. This is an extension from a previous agreement first established in 2016. Deloitte will utilise Arctic’s risk and compliance cloud technologies to rapidly assess the…
Read MoreArctic Intelligence is rapidly scaling, market leading Audit Risk Compliance platforms
Vedant Sangit, Co-Founder of Regtechtimes discussed the role of Regtech in AML space in Australia with Anthony Quinn, Co-founder of the Regtech leader Arctic Intelligence. What exactly Regtech means to you ? “RegTech has a broad meaning and coverage across the audit, risk and compliance value chain but the outcome is consistent – to help…
Read MoreRegTech Association ramps up with three appointments
Today it was announced that the RegTech Association has appointed a new CEO in Deborah Young and two board directors Jasper Poos from CBA and Harold Lucero from Discidium.
Read MoreRegtech still finding its feet, as banks and regulators do delicate dance
Australia’s financial regulators gathered in the Market Street offices of the Australian Securities and Investments Commission in Sydney last Wednesday for a private briefing with the Boston Consulting Group. The topic; Fast-moving developments in the world of regulatory technology, aka “regtech”. The deployment of artificial intelligence is gathering pace in financial services. It’s being used in pricing,…
Read MoreAustralian Banks Reassessing Risks amid Unprecedented Enforcement Action: Sources
In the wake of an unprecedented lawsuit against Commonwealth Bank of Australia for alleged compliance violations, other lenders are re-evaluating their own risks and adjusting to a potentially more aggressive regulatory climate, say sources. On August 3, the Australian Transaction Reports and Analysis Centre, or AUSTRAC, accused the country’s largest financial institution of violating anti-money…
Read MoreCommonwealth Bank exploring upgrades to transaction monitoring software
Commonwealth Bank of Australia is considering using new software to improve the way it monitors suspicious activity throughout the bank, suggesting the money-laundering scandal could be a tipping point that breaks down CBA’s insular approach to technology development. With AUSTRAC suing CBA for failures in identifying suspect deposits, the bank has been exploring how new regulatory…
Read MoreKey FATCA Implementation Challenges
In this podcast, Ross McGill from T-Consult speaks to Anthony Quinn from Arctic Intelligence to explore the issues involved with implementing tax compliance programs, the key challenges of implementing FATCA and the risks of non-compliance. Click here to listen to the original full podcast.
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