Monthly Archives: July 2019

Full force against money laundering and terrorist financing!

Bianca Schreck/ July 10, 2019/ Uncategorized

At full throttle, the European Union is moving forward with the establishment of a legal framework to combat money laundering and terrorist financing. The 5th EU Money Laundering Directive was published in June 2018. Instead of the usual time frame of 24-months, member states are prompted to implement the 5th EU Money Laundering Directive into national legislation by January 10,

Read More

Artificial Intelligence: a milestone for compliance management

Frank Erdle/ July 1, 2019/ Uncategorized

The fight against fraud, money laundering and sanctions violations is becoming increasingly difficult. Machine learning enables financial institutions to detect suspicious transactions, reduce false-positives, and avoid the risk of penalties. The risk of abuse by criminal organizations is higher than ever for banks and other financial service providers. Tax evasion and bribery are committed primarily in addition to embezzlement of

Read More