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AML Accelerate announces partnership with Equifax
AML Accelerate is pleased to announce its partnership with Equifax, a global leader in information solutions with a footprint in twenty-four markets around the world. Anthony Quinn, co-founder of AML Accelerate said, “We are excited to announce our partnership with Equifax, who has a long-established market reputation for providing innovative anti-money laundering and fraud solutions…
Read MoreAML Accelerate announces partnership with the GRC Institute
AML Accelerate is pleased to announce its partnership with the GRC Institute to provide over 2,000 compliance professionals with access to AML Accelerate’s category defining AML/CFT compliance platform for conducting money laundering and terrorism financing risk assessments and creating compliant AML/CFT Programs. The partnership with AML Accelerate will allow the GRC Institute’s 2,000+ members across…
Read MoreAML Accelerate announces partnership with LexisNexis®
AML Accelerate is pleased to announce its partnership with LexisNexis to empower its customers to comply with AML/CFT compliance obligations using AML Accelerate’s category defining AML/CFT compliance platform. The AML Accelerate solution from Arctic Intelligence is now available from the LexisNexis portal here. As the AML/CFT compliance requirements go into effect on 1st…
Read MoreAML Accelerate announces strategic relationship with Deloitte
AML Accelerate is pleased to announce its strategic global partnership with Deloitte who have been appointed to provide on-demand AML advisory services to reduce the risk of financial crime through the AML Accelerate platform. Complying with increasing AML/CFT regulations can be complex and costly…until now! Anthony Quinn, co-founder of AML Accelerate said, “We are delighted…
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 MoreAML Accelerate launches a category defining AML/CFT compliance platform
Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) compliance requirements are being revised and new requirements are being introduced and enforced around the world, impacting more than 30 financial and non-financial industry sectors, with many being brought into AML/CFT for the first time. Industry sectors including lawyers, accountants, real estate agents and dealers in…
Read MoreThe first step of AML/CFT compliance – understanding your ML/TF Risks
One of the main aims of New Zealand’s AML/CFT regime is the identification and management of money laundering (ML) and terrorist financing (TF) risks. The first recommendation within the Financial Action Task Force (FATF) standards is a requirement to understand ML/TF risks at a national and regulated entity level. This indicates the importance that the…
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 MoreNarev sets aside $40m to combat dirty cash
Commonwealth Bank has committed to spending $40 million over the next 12 months in a bid to fortify its anti-money laundering technology capabilities; a sum that has divided opinion in banking technology circles. While some have said the new investment is overkill from a bank trying to rehabilitate a tarnished reputation, others say $40m may…
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…
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