Tag: Arctic Intelligence

The effectiveness of anti-money laundering (AML) and combatting the financing of terrorism (CFT), is not solely reliant on the initial design, but also comes from the adaptability and responsiveness to evolving risks.

Arctic Intelligence, a leader in RegTech solutions, has recently unveiled a 14-day obligation-free trial of its acclaimed AML Accelerate platform.

Governance and risk assessment are not regulatory checkboxes but the bedrock of a robust BSA/AML and OFAC compliance program.

With the industry's focus on rapid growth and market domination, the critical role of risk assessment in preventing money laundering, terrorist financing, and other illegal activities is frequently sidelined. This negligence can lead to severe consequences, including regulatory fines and reputational damage, ultimately impeding a company's ability to compete.

As another year draws to a close in the RegTech industry, the sector is peering up at a new unexpected leviathan in its midst – Generative AI. The technology, virtually unknown in the mainstream at the start of this year, has created not just new opportunities but completely new challenges for the industry to grip its teeth into.

A recent growing challenge that has been identified in the financial sector this year has been money muling.

Proliferation Financing (PF) is becoming an increasingly important aspect of the compliance landscape, akin to well-known areas like anti-money laundering (AML) and counter-terrorism financing (CTF). Recently, regulators, particularly in the UK, have begun implementing stricter measures to help businesses identify and mitigate PF risks.

Australian RegTech firm Arctic Intelligence recently outlined the seven key steps for an independent review of their AML/CTF program.

Founded in 2011, Australian RegTech Arctic Intelligence is a global company that has developed enterprise risk assessment software.

RegTech firm Arctic Intelligence recently took the opportunity to provide a guide into assessing the impact of ML and TF on your firm.