AML and CFT Priorities for AML Systems
Recently, the Financial Industry Regulatory Authority (FINRA) issued a notice to firms to incorporate AML and CFT priorities for AML systems in advance of new regulations and standards coming in 2022.…
Celebrating 25 Years of Truth Technologies
Who We Are: November 15th, 1996, Richmond, Virginia. The time and place Truth Technologies was born. It has been 25 years since the development of Money Laundering Detection System (MLDS),…
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Anti-Money Laundering Compliance and Environmental Crimes
The Financial Action Task Force (FATF) has released a report detailing the role of shell companies and trade-based fraud to launder gains from environmental crimes. The report shows the need…
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…
The “Butcher of Hama” on Trial for Money Laundering
Rifaat al-Assad, known as the "Butcher of Hama" and the uncle of Syrian President Bashar al-Assad, has gone on trial for alleged money laundering. A politically exposed person(PEP), like Rifaat…
Westpac Bank’s Anti-Money Laundering Woes are Global
Ten banks in the Philippines are involved in a inquiry by the Bangko Sentral ng Pilipinas (BSP). The reason for the inquiry is to assess the banks and their relations…
$2.5 Billion Money Laundering Scheme Meant to Circumvent Sanctions
The U.S. Department of Justice (DoJ) recently released an indictment against 32 bankers, located in China and North Korea. Covert branches of the North Korea owned Foreign Trade Bank (FTB)…
UK Anti-Money Laundering Sting Results in Almost €2m Seized
After a two-year investigation, the United Kingdom (UK) Metropolitan Police have frozen 25 accounts, possibly linked to the Italian mafia, holding more than €1.9 million. This is a victory for…
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