According to the 2023 Public Edition of the Basel AML Index, the average global money laundering (ML) and terrorist financing (TF) risk level increased from 5.25 in 2022 to 5.31 in 2023, where 10 is ...

As the impeachment proceedings against Vice President Sara Duterte resumed on Wednesday, April 22, lawmakers put financial review in focus, citing Anti-Money Laundering Council (AMLC) reports on ...

Here are the most common and latest advancements in payment fraud strategies and payment fraud prevention tools for protecting your business. Key takeaways: With AI technology, payment fraud and fraud ...

India is embracing Artificial Intelligence to combat rising financial fraud. Banks and regulators are investing in AI systems ...

The Central Bank of Nigeria (CBN) has issued new guidelines that will require banks and other financial institutions to deploy automated systems to detect and report suspicious transactions as part of ...

"AI beats rules" is meaningless if you can't explain decisions to humans. Transaction monitoring has been one of compliance's most persistent headaches for two decades. Rules fire on everything.

Bob Haegele is a freelance writer specializing in topics such as insurance, investing, and credit cards. His work has appeared on Business Insider, CreditCards.com, and other nationally recognized ...

Transactions over $10,000 trigger a currency transaction report under the Bank Secrecy Act. Structuring deposits to avoid reports can still alert banks and lead to a possible suspicious activity ...

The Financial Intelligence Unit for Italy (“FIU”) issued a public consultation on new instructions for the detection and reporting of suspicious transactions (“Suspicious Transactions Regulation”), ...

The Currency and Foreign Transactions Reporting Act, also known as the “BSA,” enacted in 1970, established requirements for record-keeping and reporting by banks ...