Posts Tagged ‘aml’
Customer insights – May 2020
Historically, we’ve seen our customers conduct their risk assessments on an annual basis. In the past 6 months this has changed and we are now seeing assessments completed more frequently. What has driven the shift? The latest version of our Risk Assessment Platform has been released, with the enhanced functionality enabling customers to conduct risk assessments…
Read MoreNews in brief – May 2020
The impacts of COVID-19 continue to arise globally and we see countries and regulatory bodies implementing and enforcing new measures to minimise the implications of financial crime and in particular anti-money laundering (AML). In such a turbulent economy, the adaptation of AML solutions is increasingly becoming a norm as businesses look to further protect their…
Read MoreEU update – May 2020
Earlier this month the EU announced it had put forward a series of measures designed to further strengthen the EU’s framework to fight against money laundering and terrorist financing. An Action Plan for a Comprehensive EU policy on Preventing Money Laundering and Terrorist Financing. This comes after a turbulent few year for a few Member…
Read MoreApril 2020 insights
AUSTRAC OUTREACH ON COVID-19: Since mid-March AUSTRAC has been reaching out to the ~15,000 businesses that it regulates recognising some of the challenges Australians and Australian businesses are facing due to the global pandemic by providing assistance and regular updates on what businesses can do to work with AUSTRAC during this period. AUSTRAC has extended…
Read MoreThe role of designated non-financial services businesses in laundering funds in Australia
OPINION: At the present time Australia’s anti-money laundering and counter-terrorism financing laws do not apply to certain designated non-financial services businesses (DNFSBs), which is a major vulnerability against efforts to thwart financial crime. This article today has it all: a $10 million payment to buy a luxury waterfront mansion in Brisbane made by ASX-listed Horizon…
Read MoreFintelekt Podcast
In this Podcast with Shirish Pathak, Managing Director, Fintelekt Advisory Services, Anthony Quinn, CEO & Founder, Arctic Intelligence gives the listeners an understanding about the risk based approach adopted by the regulators over the last decade.
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