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 ...

For most of modern banking history, financial institutions have been designed to respond. A customer applies for a loan, and ...

AI-powered fraud rings are automating scams faster than retailers can detect or stop them.

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 ...

When your bank flags your account for suspicious activity, it can temporarily freeze your access to money. Debit cards may stop working. Transfers can be blocked. Deposits can be held. And it can ...

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 ...

"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.

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 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 ...

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”), ...