The Arachnys 2021 AML/KYC Data Survey Report
Building on the great insights of our 2020 survey, we invite you to dig into our 2021 report. As well as compare data trends between years, we also introduced some new questions such as which near-term goals compliance professionals are
Arachnys KYC Survey Confirms Industry Demand for Automation of Customer Monitoring
Second annual industry survey by Arachnys reveals a strong shift in KYC and AML analysts' requirement for automating the monitoring of customer changes, as financial institutions look to improve or replace traditional periodic reviews. The 2021 Arachnys AML/KYC Data Survey
Achieving global financial crime regulation with the UN
The United Nations fears its sustainable development goals are threatened by financial crime; a global response is required, the organisation argues The United Nations has become one of the most powerful voices in the battle against financial crimes such as
The Empire Strikes Back! AML and the US CBP Forced Labor Process
Star Wars fans will be familiar with the title of Episode V of the epic space franchise; in modern day reality, the “Empire” (in this case, in the form of the United States Customs & Border Protection - US
Concerning our coasts – money laundering and trafficking in global fishing
The catastrophic effects of the global fishing industry have never been so readily accepted as now. Environmental agencies focusing on our waters and their complex natural systems - such as Sea Shepherd in the UK - have worked tirelessly
Leveraging STP in KYC
In KYC and AML, data forms the bedrock that important decisions are based on. Without uniformity in that data, it is very hard to move beyond the manual data processing that is undertaken in even the simplest of tasks,
Will universities learn their lesson on money laundering?
A new report into potential money laundering involving universities’ overseas students is the latest warning of the higher education sector’s vulnerability. The imperative to act grows stronger by the day. What is banned in the UK’s scrapyards but perfectly legitimate
Client monitoring: reducing false positives and leveraging STP
Despite the massive cost and reputational risks Financial Institutions (FI) are exposed to, efficient fraud & AML systems largely remain elusive. Furthermore, incumbent fraud systems generate a large volume of false positives in the process of detection, where a
Banks face tough battle against crypto money launderers
Bank bosses can no longer bury their heads in the sand. Virtual currencies such as bitcoin are becoming mainstream and many traditional banking customers are transacting with cryptocurrency exchanges. The institutions must ensure robust anti-money laundering (AML) and counterterrorist
Arachnys joins Fintech Innovation Network
Arachnys, the global KYC and AML data provider, today announced their membership of the Fintech Innovation Network (FIN). This online resource has been designed specifically for Financial Services professionals to enable them to navigate the crowded marketplace of technology
The money mule pandemic which continues to challenge banking AML
There have been a multitude of negative aspects to life during the Covid-19 pandemic. The UK has recently surpassed the one-year mark since locking down for the very first time to reduce hospital admissions and reduce the infection rate.