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November 15, 2017
I’m just back from the AP P2P conference where hundreds of professionals gathered to talk about the latest trends and technologies in the accounts payable and procure-to-pay (P2P) space. What was clear from chatting with many of the delegates is that there are still many companies working on... Read More »
August 10, 2017
The heatwave and wildfires in Europe are not the only headlines that caught our eye. Here are a few anti-money laundering stories that you’ll want to read. Ireland: The country’s Criminal Assets Bureau (CAB) has launched investigations into accusations that members of Dublin gangs are using the... Read More »
July 24, 2017
Version 5.4 of CaseWare Monitor is due to be released soon and to mark this event, Mike Gilbert, Product Owner for CaseWare Monitor, and Michel Caluori, Delivery Manager at CaseWare Analytics, hosted a webinar to detail the exciting new features and functionality. If you currently use or are... Read More »
April 20, 2017
The topic of politically exposed persons (PEPs) is making headlines more frequently as global efforts to reduce money laundering increase. Institutions such as the Sonali Bank have made news for failing to perform sufficient customer due diligence—including failure to identify PEPs—leading to the... Read More »
April 11, 2017
Artificial intelligence. Advanced, predictive analytics. Machine learning. These terms are heard with increasing frequency in the compliance space as solution providers seek new ways to evolve technology offerings to get ahead of compliance challenges. But does this mean that rules-based testing... Read More »
February 22, 2017
Paying its due for almost a decade’s worth of crime, Western Union recently reached a settlement with the Justice Department, the Federal Trade Commission (FTC) and several U.S. Attorney’s offices. The company has agreed to pay USD $586 million for failures in its compliance program that led to... Read More »
February 9, 2017
​Most small financial institutions would agree that they’re seeing, if not feeling, an impact from the growing trend of de-risking. Earlier this week, Dave Garcia, General Manager – Group Legal and Compliance, at the National Commercial Bank Jamaica Limited (NCB), delivered an educational webinar... Read More »
January 24, 2017
Implementing anti-money laundering (AML) software is a big undertaking, and one that must take many factors into account. Some of the main factors that should be considered when selecting an AML software option include the following capabilities: Risk identification Data management Transaction... Read More »
January 18, 2017
China: China's anti-money laundering regulations will soon require that financial institutions report cross-border transfers of more than 200,000 yuan (approximately $29,000 USD), domestic cash deposits, withdrawals or transfers of 50,000 yuan or more ($7,300 USD), and any smaller transactions... Read More »
January 12, 2017
A foreign currency exchange broker has ceased operation after coming under investigation by the U.S. Treasury. The Ottawa-based company, Accu-Rate, its president and managing director were sanctioned in September for being a “subsidiary or affiliate company” of a third-party payment processor... Read More »