Criminal liability for breach of AML Laws: Lessons from a toughened regulatory landscape
Last week, Switzerland’s top criminal court delivered a landmark verdict in the country’s first criminal trial against a major lender.
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Acuminor Reports
Top 5 Pain Points for Financial Crime Risk Assessments – A market analysis
Over the last year, Acuminor have spoken to hundreds of regulated institutions about their financial crime risk assessments. During these conversations our team have documented ‘pain points’ and then we have conducted an analysis to look for commonality across the industry.
Ukrainian Refugees and the Human Trafficking Crisis: The critical role of the financial sector in disrupting illicit financial flows
Trafficking in human beings (THB) often emerges as a corollary of war. It is well-established that human traffickers perceive opportunity in the midst of turmoil, and actively seek to capitalise on the vulnerabilities of those fleeing conflict zones.
UK de-risking – The impact on legitimate business
So, you’re running an awesome company and want to expand to the UK. Makes sense, it’s still the financial hub of Europe despite Brexit and all that. So, you set things up: A UK Limited company, tax registration, payroll, an office and all other things… Read More »UK de-risking – The impact on legitimate business
Correspondent Banking and how it can be misused
What is Correspondent Banking? The Wolfsberg Group defines Correspondent Banking as: “the provision of a current or other liability account, and related services, to another financial institution, including affiliates, used for the execution of third-party payments and trade finance, as well as its own cash… Read More »Correspondent Banking and how it can be misused
Public Private Partnerships…..What are they good for?
Stop me if you’ve heard this one before, ‘public private partnerships (PPPs) in the anti-money laundering (AML) sector need to be improved’.
Financial and social inclusion at risk due to blanket de-risking
On the 5th of January 2022 the European Banking Authority (EBA) published their opinion on de-risking (EBA/Op/2022/01). The EBA is taking a critical stance towards the de-risking strategies used by many institutions today. The authority sees the broad application of de-risking as an indication that… Read More »Financial and social inclusion at risk due to blanket de-risking
The Contextual Dilemma in Financial Crime
How important is environmental crime in developing effective AML risk indicators and controls
We don’t really care about the environment in the financial crime industry! No, that comment is too harsh. Ethically and morally as individuals we care, of course. But is the environment sufficiently prioritized from a professional perspective?
Raising capital is pretty intense
Don’t let anyone tell you otherwise. As a founder you must run your business while spending most of your time talking with investors. In our case we are fortunate to have five founders and an extremely skilled team that knows what to do, when to… Read More »Raising capital is pretty intense
THE SPIDERS WEB OF THREAT DETECTION: How to find out which threats you are catching?
When I think about transaction monitoring rules, I like to imagine a mess of spider’s webs – overlapping and tangled together. The webs are so large and tangled that they catch many flies, more than the spiders can eat. Attracted by the success of the… Read More »THE SPIDERS WEB OF THREAT DETECTION: How to find out which threats you are catching?