The increasing geopolitical tensions between the United States, Russia, and China will likely drive the Compliance agenda during 2023. Regulation is expected to become considerably tighter over the next few years, so we've outlined what we think will be the biggest trends in 2023.
AML compliance includes processes, policies, and training. Financial Institutions (FI) have invested heavily in Compliance, but each year they've been careful to ensure that FIs covered other risk functions and reputational risks
The recent case and court ruling favoring Dutch challenger bank, Bunq highlights how advanced Anti-Money Laundering (AML) tools and practices are gaining ground across the Financial Services industry.
In a recent article by techhq.com, Lucinity's Expert in Financial Crime & Regulatory Transformation, Francisco Mainez, discussed the unique capabilities of Human AI.
Rethinking the role of AML compliance using technology both unlocks cost offsetting for compliance and provides insights in customer data for revenue-generating opportunities.
With the help of machines and intelligent tools such as the Lucinity platform, we can understand AI and leverag it for making the right decisions quickly.
The FinCEN files have shown that it’s time for a change in AML. We must take a completely new approach in order to catch up with the speed of innovation in financial crime.
While communities’ worldwide band together during trying times, scientists collaborate and human compassion is on full display, some rotten apples take advantage of the situation.