South East Asia banks feel pressure to boost AML processes
The ongoing 1MDB scandal has shone a harsh spotlight on the way South East Asian banks conduct anti-money laundering (AML) procedures, including adverse media screening. The scandal surrounds the 1 Malaysia Development Berhad (1MDB) state investment fund in Malaysia, the
Agile vs Waterfall: enterprise software development for financial services
Since modern humans first used cave drawings to depict game, and more than likely the process for capturing it, we have continued to document and work with processes. Within the 21st century the newest methodology on the block for software
Global money laundering fight heaps pressure on asset managers
The EU’s latest changes to money laundering regulations underline the need for asset managers to defend against constantly changing financial crimes with effective due diligence systems. The push to strengthen anti-money laundering (AML) regulation is not confined to the EU
Supply chain due diligence is faltering: here’s how to tackle it
Many companies are still not identifying crucial risks in their supply chain. Illegal and unethical practices are still rampant among the suppliers of large companies as a result. However, use of due diligence solutions to address these problems is
How money laundering threatens the ‘least corrupt’ nations on earth
Come January each year, the issue of global corruption comes under the media spotlight. The reason - the annual release of the Corruption Perceptions Index (CPI) by the global watchdog Transparency International. Newspapers around the world churn out articles indicating
InsideArachnys – Q&A with Angela Razzell, Software Engineer
Welcome to InsideArachnys, a series of interviews where we speak to the people behind the Arachnys platform. This month, we caught up with Angela Razzell, one of our Software Engineers in London. Hi Angela, can you tell us a little
Money laundering and the illegal wildlife trade: what can banks do?
Following up from our first post, Amy Guttman looks further into money laundering through the illegal wildlife trade and what banks can do to help. South Africa is considered ground zero in the fight against wildlife crime and money laundering
The due diligence challenge for the payments industry
With the payments industry betting big on modernisation, cloud computing, mergers and acquisitions and collaboration with other industry players, there also comes a need to play it safe by conducting due diligence whenever they bring onboard new business customers
The role of data sharing in AML & CFT in the era of data leaks
Explosive data leaks and dumps have become the new norm in the world of international finance. After the global fallout of the Panama Papers and the Paradise Papers in recent years, we have witnessed yet another massive data dump
Money laundering and the illegal wildlife trade: the fight continues
In the first of a two-part article, Amy Guttman takes an in-depth look into the continuing fight against money laundering through the illegal wildlife trade. Global governing bodies, NGO’s and the private sector are stepping up the fight against
Why insurers must get to grips with due diligence and financial crime
Insurers might assume financial criminals such as money launderers do not have them in their sights, but there is no room for complacency. It is true that they represent a less direct means to legitimise dirty money and to