According to the 2023 Public Edition of the Basel AML Index, the average global money laundering (ML) and terrorist financing (TF) risk level increased from 5.25 in 2022 to 5.31 in 2023, where 10 is ...
As the impeachment proceedings against Vice President Sara Duterte resumed on Wednesday, April 22, lawmakers put financial review in focus, citing Anti-Money Laundering Council (AMLC) reports on ...
"AI beats rules" is meaningless if you can't explain decisions to humans. Transaction monitoring has been one of compliance's most persistent headaches for two decades. Rules fire on everything.
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Central Bank fines crypto-exchange Coinbase €21m for failure to monitor suspicious transactions
The Central Bank of Ireland has fined cryptocurrency exchange Coinbase more than €21m for failing to properly monitor over €176bn worth of transactions on its platform for suspicious anti-money ...
The Central Bank of Nigeria (CBN) has issued new guidelines that will require banks and other financial institutions to deploy automated systems to detect and report suspicious transactions as part of ...
The Currency and Foreign Transactions Reporting Act, also known as the “BSA,” enacted in 1970, established requirements for record-keeping and reporting by banks ...
Transactions over $10,000 trigger a currency transaction report under the Bank Secrecy Act. Structuring deposits to avoid reports can still alert banks and lead to a possible suspicious activity ...
The Financial Intelligence Unit for Italy (“FIU”) issued a public consultation on new instructions for the detection and reporting of suspicious transactions (“Suspicious Transactions Regulation”), ...
Banks, fintech companies, insurance firms, capital market operators and other reporting entities flagged a total of 82,143 suspicious transactions to the Nigerian Financial Intelligence Unit in 2024 ...
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