Complytics Solutions ’s Post

Two men convicted in #Singapore’s largest #money laundering case surrendered more than $170 million worth of assets in total to the state, after they pleaded guilty last week. #antimoneylaundering #AML #moneylaundering #dirtymoney #CFT #counterterrorismfinancing #financialcrime #financialcrimes #compliance #complianceofficer #duediligence #terroristfinancing #pep #sanctions #audit #FinancialIntelligenceUnits #FIU #SuspiciousActivityReport #cdd #kyc #regulations #CFP #risk #riskmanagement #investigation #monitoring #singapore

The Public Prosecution Service (OM) has decided against prosecuting former ING #CEO Ralph Hamers for his role in a #money laundering scandal at the #bank. Prosecutors concluded after an investigation that there is “insufficient legally convincing evidence” for a #criminal case against the high-ranking #banker for crimes that happened from within #ING. #antimoneylaundering #AML #moneylaundering #dirtymoney #CFT #counterterrorismfinancing #financialcrime #financialcrimes #compliance #complianceofficer #duediligence #terroristfinancing #pep #sanctions #audit #FinancialIntelligenceUnits #FIU #SuspiciousActivityReport #cdd #kyc #regulations #CFP #risk #riskmanagement #investigation #monitoring #nl #netherlands

#Singapore is set to obtain the first guilty plea from one of the ten people arrested last August in a record S$3 billion ($2.2 billion) #money laundering case #antimoneylaundering #AML #moneylaundering #dirtymoney #CFT #counterterrorismfinancing #financialcrime #financialcrimes #compliance #complianceofficer #duediligence #terroristfinancing #pep #sanctions #audit #FinancialIntelligenceUnits #FIU #SuspiciousActivityReport #cdd #kyc #regulations #CFP #risk #riskmanagement #investigation #monitoring

Bank Negara fines RM96,250 for AMLA non-compliance! 🚨 Did you know that gold is one of the ways people launder money? 💰💡 By converting illegal funds into precious metals, money launderers can hide their tracks. This fine is a reminder of the importance of strict compliance with Anti-Money Laundering laws to prevent financial crimes. #AMLA #FinancialCrime #MoneyLaundering #Compliance #GoldLaundering

AML transaction monitoring is a critical element in the fight against financial crimes. By continuously analyzing customer transactions, financial institutions can detect and prevent money laundering and illegal activities. Utilizing advanced technology and algorithms, suspicious transactions are identified and reported promptly, contributing to the integrity of the financial system. Real-time monitoring allows for swift responses to potential risks, aiding compliance professionals and law enforcement in their investigations. #followthemoney #aml #cft #fincrime #financiacrime #regulation #compliance #nonfinancialrisk #risk #banking #fintech #finreg #regtech #amlcft #amlcompliance #regulatory #training #financialcrimes #moneylaundering #duediligence #antimoneylaundering #kyc #financialservices #corruption #fraud #terroristfinancing #terrorismfinancing #anticorruption #sanctions #financialcrimecompliance #bribery #LCBFT #blanchiment #conformité #RéglementationAntiBlanchiment #banque #juridique #finance #sar #str #smurfing #amf #tracfin #acpr

About anti money londering Anti-money laundering (AML) refers to a set of regulations, laws, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income. It involves various measures such as customer due diligence, transaction monitoring, and reporting suspicious activities to authorities. AML efforts are crucial for maintaining the integrity of financial systems and preventing the financing of criminal activities like terrorism.

Thanks for reposting Martin Dilly, CAMS-Audit - interesting read.

#European financial services group #Nordea has been charged by #Denmark’s Special Crime Unit (#NSK) for breaching the country’s Anti-Money Laundering (AML) act between 2012 and 2015. #antimoneylaundering #AML #moneylaundering #dirtymoney #CFT #counterterrorismfinancing #financialcrime #financialcrimes #compliance #complianceofficer #duediligence #terroristfinancing #pep #sanctions #audit #FinancialIntelligenceUnits #FIU #SuspiciousActivityReport #cdd #kyc #regulations #CFP #risk #riskmanagement #investigation #monitoring #denmark #dk

To put it simply, businesses can avoid any kind of AML fines and penalties by adhering to the rules and regulations of AML Compliance. Here are some bits of advice: ✴ Setting up a Money Laundering Reporting Officer (MLRO) ✴ Staff training that is both timely and useful ✴ Identifying and assessing corporate risks ✴ Implementing client identity verification methods ✴ Checking Customer Due Diligence ✴ Using tools for monitoring transactions ✴ Maintaining client records ✴ Timely reporting of suspicious activity Note that verification processes may be time-consuming and complex. That is why working with verification solution providers that can develop unique processes that maintain conversion high and compliance impermeable is more beneficial. #followthemoney #aml #cft #fincrime #financiacrime #regulation #compliance #nonfinancialrisk #risk #banking #fintech #finreg #regtech #amlcft #amlcompliance #regulatory #training #financialcrimes #financialcrime #moneylaundering #duediligence #antimoneylaundering #kyc #financialservices #corruption #fraud #terroristfinancing #terrorismfinancing #anticorruption #sanctions #financialcrimecompliance #bribery #LCBFT #blanchiment #conformité #RéglementationAntiBlanchiment #banque #juridique #finance #sar #str #smurfing