Manuel Delgado Colmenero’s Post

Great pov from my colleague Manuel Delgado Colmenero He raises some key questions and if any of these resonate with you, please connect with Avisha Patel Tom Salmond, FRSA Scott Sarsam Nicola Holman 1. Compliance Edge: How can financial institutions reimagine tech and data to leverage EU AML reforms, transforming compliance debt into a competitive edge? 2. Adaptation Strategy: What key strategies empower firms to proactively adapt to AMLA’s centralized supervision and harmonized standards? 3. Social Impact: How will unified AML/CFT regulations drive operational efficiency and societal contributions in combating financial crime? #AMLA #DisruptingFinCrime

The EU’s new AML Package reform clearly unifies regulations and centralizes supervision. Financial institutions should turn compliance into a strategic advantage and improve customer experience. Read on in our latest article how firms can leverage AI, machine learning and blockchain to improve compliance and reporting. https://lnkd.in/evscx5UW #AMLA  

The EU’s updated Anti-Money Laundering (AML) regulations mark a significant milestone for financial institutions, offering a chance to rethink compliance and reinforce integrity across EU markets. By standardizing efforts to combat financial crime, these rules not only create a unified framework but also empower firms to innovate, modernize, and secure a competitive edge. In this article, my colleague Manuel Delgado Colmenero explores how organizations can transform compliance into a strategic advantage—modernizing technology, streamlining operations, and leveraging AI, machine learning, and blockchain to enhance detection, monitoring, and reporting. Read the full article here: https://lnkd.in/evnxXVut #AMLA #EYFinancialServices #Innovation

FCA Publishes Cryptoasset AML/CTF Regime Feedback The Financial Conduct Authority (FCA) has released feedback on the quality of applications submitted by cryptoasset businesses under anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. Key Highlights 🔹The feedback highlights both good and poor-quality applications. 🔹 Crypto businesses applying for registration should ensure they meet the standards outlined in the Money Laundering Regulations (MLRs), including amendments. 🔹The FCA emphasizes that applicants should consult the MLRs, relevant guidance, and the FCA's resources to prepare strong applications. The report serves as a guide for crypto firms navigating AML/CTF compliance, ensuring transparency and enhancing the quality of future submissions. https://lnkd.in/eFzbXYmx #FCA #Crypto #AML #CTF #Compliance #FinancialRegulation #Blockchain #CryptoRegulation

📊 AML/CFT Compliance: Key Trends Shaping 2025 🌐 As financial regulations evolve, staying ahead in Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) is crucial. Here are four trends to watch: 1️⃣ Crypto Crackdown: Expect stricter rules for digital assets, including the FATF "travel rule." #Cryptocurrency #Compliance 2️⃣ AI-Powered Detection: Machine learning will revolutionize how we spot suspicious transactions in real-time. #ArtificialIntelligence #FraudPrevention 3️⃣ Global Teamwork: Enhanced cross-border cooperation and information sharing will be key. #InternationalFinance #Collaboration 4️⃣ Ownership Transparency: Greater push to unveil true company owners, making it harder for criminals to hide. #CorporateGovernance #Transparency For financial institutions worldwide, from Nepal to South Africa, adapting to these trends isn't just about compliance—it's about contributing to a safer global financial system. What challenges do you foresee in implementing these changes? Let's discuss! 👇

Join the Fight Against Money Laundering Money laundering is not just a financial crime; it's a global threat that fuels a myriad of illegal activities, from drug trafficking to terrorism. By concealing the origins of illegally obtained money, criminals infiltrate our financial systems, posing serious risks to economies and societies worldwide. Understanding and combating money laundering is crucial for everyone. Here’s what you need to know: 1. The Process: Placement: Illicit money enters the financial system. Layering: The money is moved through complex transactions to obscure its origin. Integration: "Cleaned" money is reintroduced into the economy, often through legitimate means. 2. The Impact: Money laundering enables criminals to expand their operations, undermines legitimate businesses, and can lead to economic instability. It also erodes public trust in financial institutions and the integrity of financial markets. 3. The Fight: Governments, financial institutions, and organizations like the Financial Action Task Force (FATF) are working tirelessly to prevent money laundering. Advanced technologies such as artificial intelligence, machine learning, and blockchain are being deployed to detect and prevent suspicious activities. 4. Your Role: Stay Informed: Understand the signs of money laundering and report suspicious activities. Support Regulations: Advocate for strong AML regulations and compliance. Raise Awareness: Spread the word about the importance of combating money laundering. Together, we can make a significant impact in the fight against money laundering. Let's protect our economies, our communities, and our future. #MoneyLaundering #AntiMoneyLaundering #AML #FinancialCrime #FightAgainstCrime #GlobalSecurity #StayInformed #ProtectOurEconomy #Blockchain #AIinFinance #FinancialIntegrity #FATF #AwarenessMatters

The European Banking Authority (EBA) has issued detailed guidelines for Crypto-Asset Service Providers (CASPs) to comply with the upcoming Transfer of Funds Regulation (TFR), Regulation (EU) 2023/1113, which takes effect on 30 December 2024. These guidelines outline the necessary steps CASPs must follow to ensure compliance with anti-money laundering (AML) and counter-terrorist financing (CFT) regulations. 📌 Key Guidelines and Requirements for CASPs 🔒 Travel Rule compliance - CASPs must obtain and hold information on self-hosted addresses when crypto-asset transfers exceed €1,000 - Transfers must be traceable and CASPs should assess whether the self-hosted address is owned or controlled by their customer 🔒Handling self-hosted wallets - Additional verification measures apply to self-hosted wallets, as these unregulated tools present a higher risk due to the lack of identification and verification - Blockchain analytics and third-party verification tools are recommended for assessing ownership of self-hosted addresses 🔒Risk-based supervision - CASPs must adopt a risk-based approach to identifying and managing risks associated with crypto-asset transfers, particularly those involving high-risk countries or suspicious transactions - Institutions should use the EBA’s ML/TF Risk Factors Guidelines to determine the risk level of each transaction. Special attention should be paid to transfers involving high-risk jurisdictions, large transfer amounts, or self-hosted addresses linked to suspicious activity 🔒 Mitigating ML/TF risks by considering risk factors such as: - Transfers involving high-risk jurisdictions identified by the EU or FATF - Transfers with entities lacking licensing or regulation - Repeated non-compliance with AML/CFT requirements - Use of anonymity-enhancing technologies like mixers or tumblers - Transfers linked to self-hosted wallets or accounts tied to suspicious activity. 📅 What’s next? - As the deadline approaches, CASPs should update their internal policies and procedures to ensure full compliance with the EBA's guidelines. - Institutions must ensure they have the right technological infrastructure in place to transmit and verify information in real time. 💼 Key areas to focus on: - Internal controls and compliance frameworks for detecting suspicious activities - Risk-based approach in line with the EBA's ML/TF Risk Factor Guidelines - Self-hosted wallet verification procedures. #CryptoRegulation #TravelRule #AML #CFT #CASPs #Compliance #TransferOfFundsRegulation #EBA #Blockchain #Crypto

Do you Analysis the Pressures Impacting AML Best Practices? In the dynamic world of Anti-Money Laundering (AML), several pressures are constantly reshaping our strategies and practices: 1️⃣ Criminals: The fight against financial crime is a moving target, as criminals become increasingly sophisticated, utilizing advanced methods to evade detection. 2️⃣ Technology: Keeping pace with rapidly evolving technologies is a significant challenge. The rise of digital currencies and fintech innovations demand continuous adaptation and vigilance. 3️⃣ Regulators: Regulatory landscapes are in a state of flux, with ever-changing regulations and heightened scrutiny. Staying compliant requires robust, flexible, and proactive compliance frameworks. 4️⃣ Business: The introduction of new products, the expansion into new channels, and the emergence of new risks necessitate agile risk management strategies. Every day brings fresh challenges that demand our attention and response. In this environment, AML best practices must evolve swiftly, balancing vigilance with adaptability. Let's stay ahead by embracing innovation, enhancing our capabilities, and fostering a culture of compliance, for lifecycle management and end-end operations, a one point of truth helps productivity and accuracy. I invite you to IM me to discuss further. #aml #financialcrime #compliance #technology #regulations #riskmanagement #innovation #crypto #blockchain #btc #eth #crm

Understanding AML 5 Directive: A Little Effort for a Safer Economy We are constantly monitoring the evolving regulatory landscape to ensure compliant and secure operations. The AML 5 Directive, or the Fifth Anti-Money Laundering Directive, is one such regulation that significantly impacts how businesses operate within the EU financial system. 🔍 The AML 5 Directive aims to prevent money laundering and terrorist financing by increasing transparency and enhancing the effectiveness of the existing preventive framework. Here's what you need to know: ▶ Enhanced Due Diligence: The directive places a stronger emphasis on due diligence processes, making it essential for businesses to verify and understand their customers' activities thoroughly. ▶ Beneficial Ownership Registers: It mandates the creation of public registers for beneficial ownership, increasing transparency about the individuals who ultimately own or control a company. ▶ Prepaid Cards and Cryptocurrencies: AML 5 has brought tighter controls on prepaid cards and extended regulations to include cryptocurrency exchanges and wallet providers. ▶ High-Value Goods: The directive lowers the threshold for identifying buyers of high-value goods when payments are made in cash. As advocates for strengthened security protocols, we support initiatives like the AML 5 Directive which are critical in safeguarding the integrity of financial systems. Compliance is not just a legal requirement; it is a commitment to maintaining trust and security in every transaction. For more insights on how we can help your business adapt to these regulations with our biometric identity solutions, visit our website or reach out to our team. Together, let's work towards a more secure and transparent financial environment. #AMLD5 #Compliance #AntiMoneyLaundering #FinancialSecurity #BiometricTechnology

⚖️ Ever wondered which regulatory measures ensure everyone who’s trading on Ping Exchange is playing a fair game? 💸 AML (Anti-Money Laundering) involves regulations and practices aimed at preventing, detecting, and reporting money laundering activities in which illegal funds are made to appear legitimate. 💰 CFT (Countering the Financing of Terrorism) refers to measures designed to detect and prevent the flow of funds to terrorist organizations, ensuring that financial systems are not used to support terrorism. 🪙 Ping Exchange is also a part of these evolving regulatory frameworks with its cutting-edge compliance onboarding and monitoring platform. In collaboration with CorePass and the Core Blockchain, this platform introduces a seamless, user-friendly interface that takes KYC, AML, PEP, and sanctioned user management to unprecedented levels of efficiency and transparency. 👉 Read the full article to learn more: https://lnkd.in/eiiMmg4i