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EU update – January 2021

Arctic Intelligence | Neo Advisory choose Arctic Intelligence to help clients with AML/CTF risk assessments

HMRC issues record £24million fine to MSB for anti-money laundering failures. Whilst this may not be significant when compared with fines issued by the likes of the FCA and FinCEN, this fine demonstrates the power that Her Majesty’s Revenue and Customs (HMRC) has to issue penalties to firms falling under their supervision for failing to…

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EU update – December 2020

Arctic Intelligence | AML Benchmark Report 2021

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…

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Arctic Intelligence recognised in the top 100 RegTech companies in the world

Arctic Intelligence | Money laundering reform recommendations

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…

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EU update – October 2020

Arctic Intelligence | Arctic Intelligence Named Top 10 Innovators in Risk Management

Companies 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…

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News in brief – October 2020

Arctic Intelligence | AML/CTF regulation for lawyers

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,…

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News in brief – September 2020

Arctic Intelligence |

Many businesses have been subjected to scrutiny for overlooking their vulnerabilities related to financial crime and more recently, these investigations have resulted in the form of exorbitant penalties from regulators. With such significant financial retribution and social impact, it is difficult to understand why businesses do not do more to reduce their vulnerabilities to financial…

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EU update – September 2020

Arctic Intelligence | Neo Advisory choose Arctic Intelligence to help clients with AML/CTF risk assessments

Bank branch staff doing a heroic job Bank branch staff in the UK prevented fraud worth £19.3 million in the first half of 2020. Scams were interrupted due to a scheme called The Banking Protocol. This a UK wide initiative launched 3 years ago by UK Finance, National Trading Standards and local police forces.  The…

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