A Guide to 2022 OFAC Screening Requirements
A Guide to 2022 OFAC Screening Requirements Financial institutions and other regulated entities have a duty to conduct risk assessments in an effort to prevent illegal transactions and comply with…
The Role of Sanctions and PEP Screening in the KYC Process
High-risk businesses like banks, law firms, insurance companies, and other regulated entities must perform screenings of both new and current customers as part of the risk assessment process. These checks…
Suspicious Activity Reports: What You Need To Know
As a financial organization, you have a responsibility to identify suspicious behavior. You need to do your part in preventing financial crimes from taking place. Even though financial crimes may…
The importance of Adverse Media checks in Today’s AML Environment
There is a saying that perception is reality. Therefore, if you run a company today, you need to keep up with how the public is perceiving your company. Even if…
What Are RCAs: Relatives And Close Associates?
If you run a financial organization today, you need to do your due diligence on every transaction that comes through. Sure, some transactions are larger than others. Therefore, you will…
What is an AML Compliance Program?
During the past few decades, financial crimes have only become more common. Because there are more ways than ever to process payments, there are also more apps that have to…
What Is Anti-Money Laundering (AML) and Why Is it Necessary?
As technology has improved during the past few decades, financial fraud has become more common as well. Even though technology has made a lot of our lives easier and more…
The Future Is Now!” at the latest AML ACAMS Conference in Las Vegas
The Annual Anti-Money Laundering and Financial Crime Conference hosted by the Association of Certified Anti-money Laundering Specialists (ACAMS) will begin in late September 2019. Truth Technologies has been attending this…
Danske Bank’s Estonian Branch Enters Liquidation after Involvement in a $220 Billion Money Laundering Scandal
The fight against corruption and money laundering scandals in the European Union continues. Danske Bank, Denmark's biggest bank, has closed down all banking activities in its Estonian branch. The Danske…
The “Travel Rule” for Cryptocurrency
The "travel rule" requires that firms engaged in money service businesses to share information about their customers and verify identities of customers. First issued in 1996, the travel rule (a…
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