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Understanding the Financial Crime Risk Across Your Group of Businesses
“One of These Things is Not Like the Others…?” Introduction In May 2021, the European Banking Authority (“EBA”) announced that it was consulting on draft guidelines (“Guidelines”) about compliance management...
Times They are A-Changing – and So Should Your Business Risk Assessment
Introduction – The Dear CEO Letter In May 2021, the UK’s Financial Conduct Authority (“FCA”) issued a “Dear CEO” letter to the retail banking sector. For those not familiar with...
EU Update – July 2021
Business Wide Risk Assessments are a hot subject We recently wrote about the Dear CEO letter sent by the FCA to Retail banks naming the Business Wide Risk Assessment (BWRA)...
News in Brief – July 2021
Americas The Internal Revenue Service (IRS) is cracking down on crypto-asset tax evasion with virtual currencies and non-fungible tokens. Although designed to be invisible, this scrutiny also aims to identify...
Customer Insights – July 2021
July was full of updates, with the Risk Assessment Platform updated to v1.10, recent regulatory updates from DIA incorporated into the AML Accelerate AML Policy template and CDD Standards template,...
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...
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...
Customer Insights – June 2021
This month we updated the AML Accelerate Australian AML Program/Policy template to incorporate recent reforms to the AML/CTF Act, meanwhile, the Risk Assessment platform introduces a new Fraud risk model....
Dear CEO… FCA address repeat 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...
What we are 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...
Customer Insights – May 2021
Enterprise-wide risk assessment solution Risk Assessment v1.9 is now live with exciting new features and quality of life improvements to the platform. Thanks to our wonderful community of users who...
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...
Arctic Intelligence provide financial crime professionals an AML Benchmark Report
Arctic Intelligence found that 1 in 4 risk & compliance professionals believe rolling out and managing the enterprise risk assessment process across their teams is challenging – risky! PRESS RELEASE:...
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 terrorismThe Corporate...
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...
Customer Insights – April 2021
Our next release of the Risk Assessment Platform is just around the corner. We've been hard at work adding enhancements and new features, and we are excited to give you...
What we are hearing – April 2021
In a recent article published by the economist, titled “The war against money laundering is being lost" - The global system for financial crime is hugely expensive and largely ineffective”,...
Arctic Intelligence’s enterprise risk assessment software adopted by PwC
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...
