T echnology capabilities and customers’ expectations have contributed in shaping the financial services industry. The new upsurge of innovations in financial technology or “fintech” is accelerating change in the financial sector. Fintech conveys both opportunity and potential risks to the traditional understanding/concept of financial...

As the financial industry evolves, crime remains a significant problem. In the fast pace of globalization with many industries joining forces for cross-link business activities, the importance of correspondent banking is increasing. At the same time, we have experienced high pressure from regulators to...

While there is a myriad of reasons why financial access is unavailable or limited, my focus today is on how risk management in the AML or financial crime prevention areas impacts compliance or business decision-making. As I indicated in November, when the financial sector receives...

It is no secret that AML compliance is being revolutionized by the use of modern analytical and data management tools. At the heart of this enormous shift away from manually-intensive and strictly rules-based processes are the suite of artificial intelligence technologies, with their ability to...

The six step 360 Degree Risk-Based Investigations Model provides consistency of approach and applies critical thinking thought processes by anti-money laundering (AML) investigators conducting their investigations to determine if the transactional activity (or attempted activity) under review is suspicious or not. The determination or conclusion...