Anti-money laundering

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Emerging risks and threats in money laundering


Fintech emergence

New companies are entering financial services, bringing new technologies to areas from payments to settlements, reaching new markets and driving new risks.

Adoption of fintech KYC/TM standards
Mainline financial services institutions must find ways to engage with the fintech community, but must avoid its “move fast and break things” mentality by developing purpose-built controls.

 

Expansion of cryptocurrency reach

Cryptocurrencies such as bitcoin have to date been perceived as tools to enable money laundering, or illicit transactions and are achieving mainstream adoption.

Inclusion of blockchain data in cryptocurrency monitoring
Traditional AML monitoring won’t work in crypto. Identifying related wallets, networks of bad actors and high risk activity on the blockchain before it comes to an exchange is critical.

 

Continued growth of human trafficking

Human trafficking is the fastest growing form of organized crime globally, and traditional AML systems are not designed to detect these risks.

Industry-wide collaboration
Human trafficking networks are disparate and secretive. We are working to build industry-wide consortiums to share models and tackle this critical issue.

 

Increased usage of non-traditional channels

Money launderers are increasingly turning to non-traditional mechanisms, such as financial markets and international trade, to launder funds across borders.

New monitoring approaches
Businesses like markets and trade have different risks, and different data models than transactional businesses. They typically require targeted, purpose-built solutions.

 

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