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Cargo ships docked on harbour
30 May 2018 - Accuity Insights

Shipping technology is making trade finance more transparent

Versions of this article originally published in Global Banking & Finance Review and Trade Financing Matters. In the twelve months from January to December 2017, over 4,500 vessels in the container, bulker and tanker fleet completed 30,000 visits to OFAC sanctioned terminals (Iran, Cuba, North Korea, Sudan, Syria and the Crimea). Whilst not every vessel visit […]
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7 May 2018 - Accuity Insights

The future of air cargo compliance screening

Recent news that a Maersk company carried arms components from North Korea to Egypt, in a violation of international sanctions, acts as a fresh warning for those facilitating global trade to be diligent in monitoring and reporting suspicious activity. The transportation of electrical components by a Maersk subsidiary, which had the potential to be used […]
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3 May 2018 - Accuity Insights

Real Estate Spotlight Series: How US cities are fighting money launderers

The purchase of expensive, high-end residential properties through opaque corporate structures in some US cities, notably New York and Miami, had been an issue of growing comment and concern, not least because the trend was pushing property prices in the cities up sharply. The Miami Herald was among the local newspapers that spent years trying […]
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13 April 2018 - Accuity Insights

Real Estate Spotlight Series: The UK cracks down on money laundering through property and estate agents join the battle – like it or not

The UK government has announced new plans to crack down on money laundering as part of its response to a consultation on the billions of pounds of high-end UK property owned by overseas shell companies.[1] This is the latest in a series of measures designed to prevent criminals from exploiting the property market and, according […]
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10 April 2018 - Accuity Insights

How tighter compliance can boost the reputation and value of ICOs

At the latest Financial Action Task Force (FATF) meeting, 35 countries, the European Commission and the Gulf Co-operation Council urged the international body to improve understanding of money laundering risk related to cryptocurrencies. In light of this, Michael LaScola, Business Solution Specialist at Accuity, discusses some AML best practices for ICOs and why they should […]
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2 March 2018 - Accuity Insights

Real Estate Spotlight Series: Tackling money laundering in Canada

The suspicion that runaway property prices in major Canadian cities are driven, at least in part, by illicit international investment won’t go away. According to a report by Transparency International, almost half of the most valuable residences in Greater Vancouver area are held through corporate structures that hide their ultimate owner, including a third that […]
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15 February 2018 - Accuity Insights

Navigating trade finance: how should banks monitor suspicious shipping activity?

Byron McKinney, Product Manager at Accuity, discusses the latest case of suspicious shipping activity and why financial institutions need to keep a close eye on the trades they finance, including how the goods are transported.
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30 January 2018 - Accuity Insights

Partially legalised marijuana businesses – how can banks perform their due diligence and protect themselves?

While there is a conflict between US state and federal legislation on marijuana trading, financial institutions need to protect themselves from penalties that could result from onboarding marijuana businesses as customers.
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24 January 2018 - Accuity Insights

Real Estate Spotlight Series: A promising step forward for Asia in the fight against money laundering

As 2017 drew to a close, newspaper reports emerged in Singapore of charges filed against two real estate professionals, Kang Bee Leng, the managing director of Sterling Law Corporation, and Tan Yen Hsi, senior marketing director of CBRE Realty Associates[1]. The charges should send a shock wave through the real estate profession worldwide, as the […]
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5 January 2018 - Accuity Insights

What faster payments means for anti-money laundering compliance

- The global phenomenon of faster payments is having an impact on operational issues related to anti-money laundering (AML) compliance. Faster payments are a response to the need to modernise current payment settlement networks as a result of market, technology and demographic trends. Faster payment networks provide benefits to the three major participant groups: corporations, consumers […]
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