Tag: CFT

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.

In an era where regulatory oversight of the wealth and asset management sector is intensifying globally, the stakes for compliance have never been higher. This sector, pivotal to national economies, plays a crucial role in helping consumers manage their assets and achieve their financial goals. However, its significance also makes it a potential target for misuse by malicious entities aiming to launder money.

The world of finance is on the brink of a significant transformation, especially for investment advisors in the United States. On February 15th, 2024, a pivotal announcement was made by the Financial Crimes Enforcement Network (FinCEN) that is set to redefine the landscape of anti-money laundering (AML) and counter-financing of terrorism (CFT) compliance.

In recent years, United States financial regulators have established themselves as global leaders in enforcement. In 2022, they imposed $3bn in fines, nearly three...

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.

The constant evolution of the financial landscape has placed anti-money laundering (AML) and counter-financing of terrorism (CFT) measures at the forefront of combating financial...

In a recent post by Fenergo, the company outlined how digital transformation is changing the way people open accounts. 

The European Banking Authority (EBA) has issued guidelines for the roles and responsibilities of anti-money laundering and countering the financing of terrorism (AML/CTF) compliance officers.

The European Commission has announced the creation of a new EU authority to fight money laundering, as part of a series of proposals to combat rising fraud threats.

US regulators have come together to issue a joint statement reminding those engaged with digital asset to meet anti-money laundering (AML) and counter financing terrorism (CFT).