Fintech and Money Laundering Risks: AML Compliance & Regulations
Fintech and money laundering risks increase as businesses integrate technological solutions for financial process enhancements. Fintech platforms remain vulnerable to criminal activities because their advancements facilitate money laundering activities. In this article, we’ll investigate how money laundering schemes expose fintech businesses to attack, demonstrate how criminals exploit these systems, and explain the powerful AML controls […]
What is an AML Audit and How to Perform One?
The regulatory requirements appear to rise continually. Regulated entities and financial institutions must understand anti money laundering and terrorist financing policies and controls. There comes the AML audit, which is an essential tool to support companies implementing their AML programs. In this guide, we’ll discuss what is an AML audit, its importance, AML audit requirements, […]
What is Anti Money Laundering AI and How Does it Prevent Financial Crimes?
Traditional financial institutions encounter many difficulties detecting money launderers through rules-based systems, producing excessive false positives. Current AI-powered anti-money laundering systems improve risk detection by finding hidden data patterns and delivering better risk scores and lower compliance expenses. In this guide, we’ll discuss how anti money laundering AI can help in the identification of suspicious […]
