In the U.S. alone, roughly $300 billion is laundered each year, and this represents about 15-38% of the money laundered globally. Money laundering is a growing issue and the amount of money that can move through a single laundering operation is significant. Because of this, security measures, such as AML, should be in place to […]
Money laundering poses a major dilemma for businesses of all shapes and sizes. It is estimated that over $300 billion is laundered in the U.S. each year. While the regulations aimed at reducing financial fraud can seem quite complicated, there are electronic solutions available that reduce the burden on businesses by increasing reliability and reducing […]
Countries all around the globe are putting stronger regulations in place to stop money laundering, financial fraud, terrorism funding, and other illicit activities. New Zealand is certainly no exception. The island nation of 5 million in the southwestern Pacific has some of the most comprehensive and well-developed financial regulations in the world. In recent years, […]
The Russia-Ukraine War highlights the needs for extra attention to Know-Your-Customer (KYC) and Anti-Money Laundering (AML) processes. The volume of AML has increased with the addition of new financial activity restrictions to the group referred to in the media as “Russian Oligarchs.” Therefore, as the number of individuals blocked from financial transactions grows, so does […]
Over the last decade, all major payments processors have created fraud strategies and associated services in an effort to offer real customer value to their merchants. Independent or standalone anti-fraud vendors are less prevalent, due to a raft of strategic acquisitions and partnerships offering even broader services. Traditionally, global products that may not have entered […]
A recent financial intelligence report by Europol states that the agency could be ramping up their iGaming investigations, particularly those based on the international iGaming hub of Malta. As part of an ongoing crackdown on Italian organized crime, property and six iGaming companies on the island were seized and their licensing revoked. The companies were […]
Fortunately, the compliance and identity verification measures in industries under tight compliance regulations have been effective in restricting terrorist financing. However, the impact of these enhanced regulations and compliance measures in the gaming and financial community may have been to send these individuals to other marketplaces like person-to-person or small retailer-to-consumer. About 12 years ago […]
Numerous attacks are believed, at least in part, to have been financed through multiple European businesses channels, such as blockchain/cryptocurrencies and pre-paid cards.