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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 and 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.

Why it matters?

The UK Financial Intelligence Unit (UKFIU) received and processed a record number of Suspicious Activity Reports 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
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Cyber Fraud and Risk Management: Secure Payments

Gartner recently reported that the newest trend in fraudulent activity is Cross-Channel Fraud, the manipulation of multiple channels to perpetuate a fraud scheme.

Datasheet
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Bottomline Watchlist Screening

Financial Institutions and Corporates firms have a growing ethical and legal obligation to comply with fast moving international AML/CTF regulations. Failure to do so can result in heavy fines, suspensions or even imprisonment.

Datasheet

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