Accuity Insights Blog

In the international fight against financial crime regulators have prompted traditional banks to steadily tighten their compliance programs. Criminals are looking elsewhere – and internet platforms such as gaming, e-commerce, social media and live streaming where large amounts of money circulate anonymously are an appealing target.

As part of our ‘Ask the Expert’ series, we ask Giles Thomson, Director of OFSI, about the UK’s key sanctions policies and priorities this year.

Data is everywhere. It is available from client onboarding, government agencies, credit bureaus, the internet, and social media. The challenge financial institutions face is not capturing data, but managing it. That means not only ensuring data is accurate, but also understanding how to update, share, store, maintain, archive, secure and analyze the information.

An increased focus on anti-money laundering and countering the financing of terrorism (AML/CFT) regulations in the insurance industry has led to specific guidelines for different types of insurance based on the level of risk. The risk associated with each insurance type determines the controls and processes that the provider needs to have in place.

The third part of our Accelerating Payments blog series examines why security is so important for payment firms to stand out in an increasingly crowded payments market.

The second of our Accelerating Payments blog series examines the role of cash in an increasingly digital society and why trust is the key to unlocking an automated future.

The first blog in our Accelerating Payments series looks at how the Covid-19 pandemic has propelled payments digitisation, opening the door to a realm of future possibilities. With a vaccine now firmly on the horizon, will payments revert, or will the trend continue?

The Financial Action Task Force (FATF), established in 1989, is the global money laundering and terrorist financing watchdog that sets international standards that aim to prevent illegal activities and the harm they cause to society.

London - This blog, first published on the Law Society of England and Wales website, provides five actionable steps to help law firms manage compliance and keep up with ever changing AML requirements.

As part of our ‘Ask the Expert’ series, we ask senior investigator John Dell'Osso about The Sentry's recent investigation, Overt Affairs, which uncovered sanctions busting in North Korea.

For years, the insurance industry was perceived as a lower risk for financial crime compared to the banking sector. As a result, it was spared the intense scrutiny and heavy fines regulators imposed on financial institutions for deficiencies in anti-money laundering (AML) controls.

Arthit Saeli, the owner of a commercial real estate company in Thailand, entered a local bank to open a new account. No red flags arose during the onboarding process. The account manager opened the account, shook Saeli’s hand and thanked him for choosing their institution.