As the payment landscape evolves, so do the methods used for money laundering. Each year, less than 1% of illegal assets are frozen or seized by authorities.
Financial services firms are well aware of the need to safeguard against money laundering, terrorism financing and other financial crimes, yet financial crime compliance continues to be difficult for the financial sector.
In this white paper, Dow Jones Risk & Compliance and Bottomline examine how financial services can mitigate the risks of cross-border transactions, by combining a robust compliance programmes with tight controls and processes with high quality, structured data.
"The UK Financial Intelligence Unit (UKFIU) received and processed a record number of Suspicious Activity Reports (SARs) in 2018 with 22,619 of those requests for a defence against money laundering (DAML). This figure was 20% up on the previous year."
Source: Suspicious Activity Reports (SARs) Annual Report 2018; National Crime Agency
BrochurePayment Risk: Why Use Risk and Compliance Solutions?
Continued regulatory pressure, in conjunction with substantial financial penalties, has forced previously unregulated entities to address an expanding global matrix of anti-money laundering (AML) and sanction screening obligations. Download our comprehensive guide to financial and payment risk and compliance to galvanise your anti-money laundering, sanctions screening, risk and compliance strategies.
White PaperSecuring Payments Across the Digital Enterprise
Payment fraud poses a significant threat to businesses of all sizes and in all sectors. In today’s digitally connected world, financial losses as a result of fraud can be devastating.
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