Pursuant to Article 33(1) of Directive (EU) 2015/849 ("AML-Directive"), as transposed into national German law by Sec. 43(1) of the Money Laundering Act (Geldwäschegesetz – "GwG"), companies ...
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Explainer: What are ‘covered, suspicious transactions’
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 ...
Financial institutions are investing heavily in AI. They are building copilots, risk intelligence systems, compliance ...
When the text message came in, Kim Dow's heart sank. "Hi," it read. "Did you just make this purchase with your REI Co-op Mastercard?" The message went on to share the last four digits of Dow's card ...
The Currency and Foreign Transactions Reporting Act, also known as the “BSA,” enacted in 1970, established requirements for record-keeping and reporting by banks ...
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 ...
When a bank flags "suspicious activity," it usually means your account behavior suddenly looked different from normal. Maybe it was a large purchase. A new location. A transfer pattern the bank's ...
"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.
Bob Haegele is a freelance writer specializing in topics such as insurance, investing, and credit cards. His work has appeared on Business Insider, CreditCards.com, and other nationally recognized ...
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