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Arctic 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…
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Read MoreCase Study – First Exchange
First Exchange (FIRST) is a leading brand of Money Service Operator (MSO), committed to delivering exemplary customer services and competitive rates. With a long-standing history of providing fair and efficient money exchange and remittance services in Hong Kong since 1979. Since its inception, FIRST has evolved into the operator of the largest network of money…
Read MoreCase Study – Northwest Healthcare Properties
Northwest Healthcare Properties Australia and New Zealand invests exclusively in healthcare property and is the largest healthcare real estate owner, manager and developer in the region. As a managed investment scheme in Australia, their primary goal was to establish a robust Anti-Money Laundering (AML) / Counter-Terrorism Financing (CTF) program that not only adhered to local…
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 MoreThe Asian Banker: Can Singapore’s banks keep up with money laundering tactics?
Arctic Intelligence CEO Anthony Quinn shares his insights what’s been going on in the world of AML/CTF in Singapore following a number of high-profile money laundering incidents with financial services firms last year. Follow us on LinkedIn and Twitter for a daily dose of financial crime news across the globe.
Read MoreFinancial Crime Solutions
Risk Domains Arctic Intelligence has developed innovative technology that helps to identify, assess, mitigate and manage financial crime. Discover more about our solutions across different risk domains to help prevent your business from risks and vulnerabilities. Request a demo Risk Domains Risk Domains AML/CTFSanctionsProliferationAnti-Bribery and CorruptionFraudModern SlaveryWildlife TraffickingCorrespondent BankingEnterprise RiskESG Risk Financial Crime Risk Domains…
Read MoreProliferation Risk
Proliferation Financing Risk WHAT ARE Proliferation financing laws? Proliferation financing laws refer to a set of legal measures and regulations designed to prevent the financing of activities related to the proliferation of weapons of mass destruction (WMD) and their delivery systems. The term is often associated with efforts to counter the spread of nuclear, chemical,…
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