Wolfsberg Group publishes guidance on negative news screening for KYC, AML and CFT screening
The Wolfsberg Group has published a Frequently Asked Questions (FAQs) on how undertaking screening for negative news and other forms of adverse information can enhance financial institutions’ awareness of potential financial crime risk posed by both existing and prospective customers. The FAQs by the association of global banks that aims…
Banks struggle as pandemic exposes opportunities for fraud says Bolero chief
The CEO of trade finance digitisation provider Bolero has written an article on risk mitigation in which he says that opportunities for fraud exposed by the impacts of the coronavirus pandemic add weight to a growing body of opinion in support of the argument for…
Global banks engaged in industrial-scale money laundering says ICIJ
Global banks have engaged in industrial-scale money laundering according to secret financial intelligence reports leaked to the BuzzFeed News channel and analysed by the International Consortium of Investigative Journalists (ICIJ). The consortium alleges the leaked reports from the US treasury department’s Financial Crimes Enforcement Network (FinCEN)…
