Blog
Arctic Intelligence Recognised on FinTech Global’s FinCrimeTech50 List
Arctic Intelligence, a leading provider of innovative financial crime prevention solutions, has been honoured with a coveted spot on FinTech Global‘s prestigious FinCrimeTech50 list. This recognition underscores Arctic Intelligence’s commitment to excellence and innovation in the fight against financial crime. The FinCrimeTech50 list, curated by FinTech Global, showcases the top 50 companies worldwide that are…
Read MoreArctic Intelligence named as a finalist in the ICA compliance awards 2024
We’re honoured to be nominated again as a finalist for a prestigious industry award: we are a finalist in the ICA Compliance Awards. In the ever-evolving environment of regulatory compliance, we work hard to stand out for our dedication to innovation and excellence. We regularly enjoy recognition as a renowned Regtech firm specialising in financial…
Read MoreThe Risks of Form over Substance
Imagine a financial institution with a voluminous compliance manual, meticulously detailed procedures, and frequent checkbox audits. But when a money laundering scheme slips through, it exposes a critical flaw: the program prioritized form over substance. AML/CFT and Sanctions compliance programs are not just about checking boxes. While regulations are crucial, focusing solely on appearances creates…
Read MoreThe Importance of Feedback Loops in Enhancing AML/CFT and Sanctions Compliance Programs
The effectiveness of an Anti-Money Laundering / Combating the Financing of Terrorism (AML/CFT) and Sanctions compliance program is not solely dependent on the initial design but also on its adaptability and responsiveness to evolving risks and maturation of one’s understanding of relevant risks. Jay Postma, CAMS, CFCS, President of MSB Compliance Inc. notes that, “Critical…
Read MoreListening – A Critical Skill for Compliance, Corporate Governance, Risk Assessment and Risk Mitigation
Over the past 17 years MSB Compliance Inc. has performed numerous independent BSA/AML and OFAC reviews of various types and sizes of MSBs, payment processors and banks. Jay Postma, CAMS, CFCS, President notes: “We’ve seen many organizations with strong compliance culture and effective compliance programs. And we’ve seen entities whose management ignored reported compliance issues, …
Read MoreArctic Intelligence launches 14-day free trial of AML Accelerate
Recently, Arctic Intelligence launched a 14-day obligation free trial of the multi-award winning money laundering and terrorism financing risk assessment and AML/CTF program/policy development platform, AML Accelerate. For the first time, Arctic Intelligence is enabling regulated businesses to experience for themselves how to easily identify money laundering and terrorism financing risks, assess the design and…
Read MoreCornerstone and Foundation: How Governance and Risk Assessment Fortify Your BSA/AML and OFAC Program
Your BSA/AML and OFAC compliance program needs a guiding structure and a robust foundation in order to stand tall, be strong and prove resilient against the evils of financial crime, money laundering and terrorist financing. That’s where governance and risk assessment come in. Think of them as the cornerstone and foundation of your compliance program,…
Read MoreDecember 2023 – New features & upcoming features
Event Management We have introduced “Events,” empowering our clients to create, track, and manage breaches, operational incidents, or near-misses. The platform enables real-time drillable dashboards and reports, allowing users to filter information by status, owner, event type, priority, due date, and more. In-Application Tutorial To enhance user experience, we have implemented a guided in-application tutorial…
Read MoreRisk Assessment: The Bedrock of Financial Services Compliance
In the current competitive and fast changing landscape of the financial services industry, effective risk assessment often gets relegated to the backburner and is overshadowed by desires to build fast and break things, capture as much market and mind share as possible, and grow income quickly to minimize capital burn and prove the business model. …
Read MoreProliferation Financing risks: What businesses need to know
Proliferation Financing (PF) forms part of the compliance landscape, like anti-money laundering and counter-terrorism financing (AML/CTF). However, it’s only recently that regulators have started to introduce tighter measures to help businesses identify PF risks. The UK is currently leading the way. And with an increased focus worldwide on enhancing risk regulatory measures, it’s likely that…
Read More