Tag: Alessa

FinTech Global recently spoke to multiple industry players to get their insights on whether financial institutions are keeping up with modern sanction/PEPs lists monitoring requirements. The first part can be read here. In this second half, FinTech Global asked the industry leaders to outline some of the best practices they have seen in the market and how to stay on top of the lists.

The war in Ukraine has underscored how quickly sanction and PEPs lists can change. Since 2022, the US, UK, EU, Australia, Japan and Canada have imposed over 16,500 sanctions on Russia, according to the BBC. The current turbulent geopolitical scene means financial services firms need to be ready for regular, and often sudden, changes to PEPs and sanction lists. FinTech Global recently spoke to several industry players to ask whether financial institutions are keeping up with the modern sanction/PEPs landscape.

Politically Exposed Persons (PEPs) represent a significant risk for money laundering and corruption within the financial sector. Alessa, a leading provider of Anti-Money Laundering (AML) compliance software, emphasises the critical importance of accurately identifying and screening PEPs before any business engagement.

In an increasingly interconnected world, economic and trade sanctions serve as powerful tools wielded by governments and organisations.

Automated Clearing House (ACH) payments are a staple in modern financial transactions, offering a quick and efficient means for businesses and consumers to move...

Art money laundering refers to the concealment of the origins of illegally obtained funds through the purchase and sale of art.

In a recent post by RegTech firm Alessa, the company outlined how best to understand the intricacies of money laundering typologies. 

Until now, cryptocurrency companies in California have operated without a license, but this is set to change with the introduction of the Digital Financial Assets Law (DFAL), signed into law by Governor Newsom in October.

Deciphering the complexities of crypto assets and adhering to Anti-Money Laundering (AML) regulations can seem like an intricate task.

Alessa recently took the time to provide a full guide to suspicious activity reports and anti-money laundering measures.