The FinCrime Files – Q&A with Colette Best, Solicitors Regulation Authority
In this edition of our FinCrime Files interview series, we caught up with Colette Best, Director of anti-money laundering at the Solicitors Regulation Authority. Q. Hi Colette, could you tell us a little about yourself and your current role? I have
The KYC & AML challenge for banks [infographic]
Opening corporate accounts at banks is a laborious process which contains multiple friction points. With such a tough KYC challenge on their hands, it is not just the customers that can be disillusioned by a poor customer experience, but
InsideArachnys – Q&A with Iain Rodger, Principal Data Scientist
Welcome to InsideArachnys, a series of interviews where we speak to the people behind the Arachnys platform. This month, we caught up with Iain Rodger, our Principal Data Scientist based in Scotland. Hi Iain, can you tell us a little bit
Smoke signals: money laundering and the illegal tobacco trade
One of the key crimes that has alerted financial institutions and regulators is trade-based money laundering (TBML). While we have looked into the issue before here at Arachnys, the complexity that TBML comprises (its wholly global remit and the
The FinCrime Files: top challenges for financial institutions
2020 saw many challenges for all. For financial institutions (and organisations across various industries tackling financial crime) the rise in cyber crime for financial institutions during a global pandemic became worryingly commonplace. With financial crime and AML processes being front-of-mind
Webinar: Identifying human trafficking through AML and alternative data
In the latest Arachnys webinar, we welcomed Steve Farrer to join our CEO and co-founder David Buxton to discuss the prevalent issue of human trafficking and how banks can identify this criminal activity using alternative data in AML. As one
Interview with Greg Watson: KYC challenges for corporate banks
Corporate banks face a number of hurdles in conducting KYC. Complex processes that involve many parties, causing inefficiencies in operations, are often handled manually and only add to significant costs. When both the onboarding process and periodic review cycles
Kicking off the AML collaboration between sports clubs, banks and regulators
In the past decade, the monumental incline of revenue within sport has brought with it more spectacle, more worldwide fandom and, inevitably, a larger threat of financial crime. Where there are huge sums of money, criminals will look for
Alternative data in AML: achieving proactive warning on risk
In the coming years binary list services, the port of call for entity screening in AML processes, may become more obsolete as alternative data sets will start to augment, or even replace, these traditional methods. Alternative data can come in
Know Your Donors: the improving KYC picture for charities and banks
Having to perform due diligence on customers is a priority for all businesses to make sure that risks are averted. When your organization not only operates in multiple jurisdictions, but has to justify their business decisions to multiple stakeholders
Meeting compliance and the challenges of manual onboarding and KYC refresh for banks
Many banks struggle to streamline their KYC workload - and please regulators - due to their oversized compliance teams. Not only this, but the amount of manual work that is undertaken by these segmented teams is similarly large, causing
Ecclesiastical crime: the due diligence challenge for churches and banks
Companies of all types fall into the trap of embezzling dirty money, and many investigations worldwide have looked into the roles of religious institutions in the clearing of illegal cash. This can take into account organisations across any religion