By this point, it is becoming clear to most banking institutions and compliance officials that technology can be a potent weapon to be used against financial crimes, such as money laundering and fraud. A recent artificial intelligence (AI) adoption survey revealed that nearly half of...

Corruption is not a recent phenomenon; it has been in existence for over 2,000 years. Corruption prevailed in many ancient kingdoms highlighted throughout history. Corruption is a much larger phenomenon that can only be observed and is subject to one’s perception of the act being...

Compliance practitioners have long sought to implement compliance monitoring and testing functions. But what does that mean in today’s data-driven world, where customer onboarding and transactions occur at the speed of a click, blurring the boundaries of what is real and what is virtual? Compliance...

With the growing complexity of our regulatory environment, financial institutions (FIs) and businesses continue to be subject to ever-increasing scrutiny and legal obligations to combat money laundering and terrorist financing. In the Caribbean, there is no difference. For Caribbean compliance practitioners who have oversight of...

There is no question that financial service providers frequently struggle to find the time and resources to recruit and train staff, manage volume surges and comply with emergent regulatory demands. These anti-money laundering (AML) compliance disruptions require that teams be resilient and adaptable. How do...