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December 2023

EU tightens up on AML

On 13th December 2023, the European Union  took a significant step forward in its fight against financial crime, especially anti-money laundering. Establishing the EU Anti-Money Laundering Authority (AMLA) is a testament to this commitment. The new body is designed to supervise and coordinate national authorities, enhancing their ability to detect and combat suspicious cross-border transactions.

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URGENT and EFFECTIVE AML is non-negotiable.

The 2023 Basel AML Index has brought to light an alarming escalation in global money laundering and terrorist financing risks. This annual report, emphasizing the urgent need for effective compliance measures, describes a concerning trend: despite robust frameworks, the effectiveness of systems for anti-money laundering (AML) and counter-terrorism funding (CFT) is in decline. As the

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The Shifting Sands of Financial Risk: Balancing Perception and Reality

In financial services, risk perception is often as significant as the risk itself. A recent report(1) in  The Business Times of Singapore reveals growing concerns among Singaporean financial institutions about money laundering risks. This comes in the wake of a major scandal in August 2023, where ten individuals were arrested for a money-laundering scheme involving

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Proactive Support: how tech supports vulnerable gamblers

In recent years, the gambling industry has made important strides in addressing problem gambling. Increasingly, the emphasis is on support for those at risk, rather than punitive measures. This shift reflects a growing recognition of the importance of responsible gambling practices and the need to protect vulnerable individuals. Some organisations have acted slowly but the

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