anti-money-laundering
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FinanceAML trends in 2022
Credit suisse found guilty in cocaine cash laundering case
Date: June 27, 2022
By Paul Carrel BELLINZONA, Switzerland (Reuters) – Credit Suisse was convicted by Switzerland’s Federal Criminal Court on Monday of failing to prevent money-laundering by a Bulgarian cocaine trafficking gang in the country’s first criminal trial of one of its major banks. A former employee was found guilty of money-laundering in the trial, which included testimony...
UK publishes review of anti-money laundering regime
Date: June 24, 2022
LONDON (Reuters) – Britain’s finance ministry published on Friday a review of the country’s anti-money laundering rules and its system for countering the financing of terrorism, part of a broader push by the government to crack down on economic crime. “This review has made clear that some of our most powerful levers for change are...
Global AML trends 2022: Where do we stand?
Date: June 14, 2022
By Fran Garvey, Solicitor, Business Crime – Howard Kennedy LLP Anti-money laundering (AML) regulations and enforcement globally have never been stricter. Corporations face an ever-expanding list of obligations and expectations from regulators as the world adapts to the threats of post-pandemic working practices, cryptocurrencies and virtual assets and political uncertainty. As we stand at the...
The battle against financial terrorism demands every tool in the box
Date: June 13, 2022
By Saeed Patel, Group Director at Eastnets, the compliance, payment and anti-fraud experts, explains how to protect against terrorist financing in 2022 Meeting the requirements of ever-evolving anti-money laundering (AML) and counter terrorist financing (CTF) laws, regulations and guidance is no mean feat. The sheer depth and breadth of requirements from such as wide range...
ABN amro shares fall as money-laundering provision boosts costs
Date: May 18, 2022
By Valentine Baldassari and Elena Vardon (Reuters) -Dutch bank ABN Amro beat first-quarter earnings expectations on Wednesday but higher-than-expected costs, including new anti-money laundering provisions, weighed on the company’s shares which dropped around 10%. The lender reported net profit of 295 million euros ($310.6 million) in the first three months of the year, topping an...
Leveraging intelligent automation in financial crimes compliance
Date: May 12, 2022
By Jason Chorlins, CPA, CFE, CAMS, CITP, Principal of Risk Advisory Services at Kaufman Rossin Financial institutions are increasingly leveraging technology and trying new approaches to combat financial crime, in line with regulators’ encouragement of innovation in this area. As solutions continue to evolve, a layered approach using intelligent automation can help banks and other...