Posts Tagged ‘aml’
September 2020 – note from CEO
Over the last month or so we have started to see some disparity emerging in the way in which international financial crime regulators are treating regulated entities where they identify breaches or material non-compliance with anti-money laundering and counter-terrorism financing laws. In the UK, the Financial Conduct Authority, which has historically been fairly active in…
Read MoreCustomer insights – September 2020
Here at Arctic Intelligence, we’re all about delivering the features and services that are most important to our community of users. This month we released an enhancement to the Risk Assessment Platform with globalisation support, added the ability to vote for new features on our Community Forum, and updated our Help Center with FAQs, Methodology…
Read More27th July 2020 note from CEO
As we continue to watch the rapid acceleration of covid-19 both in Australia and overseas create wide-reaching impacts on our business and personal lives it is hard to see a return to anything that resembles business as usual anytime soon. As with any crisis there are always opportunists looking to make a fortune from others…
Read MoreMalta is at risk of being the first EU country to be grey-listed by Moneyval.
Following Malta’s fail grade in September 2019 of it’s anti-money laundering laws (AML/CTF) and their enforcement, Prime Minister Robert Abela has tried to reassure Members of Parliament (MP’s) and the public that he is confident they will pass the assessment due to take place in October 2020. The Malta Financial Services Authority (MFSA) CEO Joseph…
Read More21st July 2020 note from CEO
As we continue to watch the rapid acceleration of COVID-19 both in Australia and overseas create wide-reaching impacts on our business and personal lives it is hard to see a return to anything that resembles business as usual anytime soon. As with any crisis there are always opportunists looking to make a fortune from others…
Read MoreJune 2020 note from CEO
Since we issued our last newsletter an incredible amount of activity has been happening in the financial crime space globally, that it’s made drawing up a shortlist of things to talk about a bit challenging…! In Australia, the most significant development occurred on June 4th, when Westpac released its 48-page response to AUSTRAC’s statement of…
Read MoreEU update – June 2020
UK regulator issued second largest fine for AML failings. The FCA has fined Commerzbank London £37,805,400 over anti-money laundering failures between 2012 and 2017. The original fine was reduced from £57,007,800 as Commerzbank agreed to resolve the matter at an early stage Commerzbank breached Principle 3 of the FCA’s Principles for Businesses, which requires firms…
Read MoreNews in brief – June 2020
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Read MoreCOVID-19 demise of cash: turning a threat into a technological opportunity
Opportunities Many Financial Crime articles and webinars are inadvertently conveyed an ancient proverb; “With every crisis there is opportunity”. Coronavirus crisis lands opportunity for both nefarious actors and compliance teams. Including those who rely on resources to build RegTech to collate, analyse, detect, investigate, and report, in an ever-trusting co-dependency of man and machine. COVID-19…
Read MoreArctic Intelligence welcomes new client African Bank Limited
Arctic Intelligence is delighted to announce African Bank Limited’s (ABL) recent procurement of their AML solution, AML Accelerate. As a global RegTech firm, Arctic Intelligence has designed risk assessment and audit and assurance solutions pertaining to financial crime risk and compliance matters to help regulated entities manage their compliance obligations. African Bank joins hundreds of…
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