What is AML Name Screening? Name screening in AML is one of the strategies used by banks and fintechs during the initial KYC onboarding process to assess the risk of the client. AML Name screening is also known as sanctions and PEP screening, also includes the Adverse Media Screening process. The AML name [...]
What is PEP and Sanctions Screening? PEP and Sanction Screening is part of an AML Compliance process for identification and verification of Politically Exposed Person (PEP) and blacklisted individuals in public and private sanction lists; which is conducted by banks, fintechs and other financial institutions as well as big corporates. Their verification is [...]
6th Anti Money Laundering Directive 6AMLD is among the latest sanctions imposed by the European Union on Turkey through the United Kingdom and the United States. The EU has recently implemented the 5AMLD. However, there are some uncertainties in 5AMLD. Therefore, the EU has decided to implement a new directive, the sixth money [...]
Anti-Money Laundering ACT 2020 Anti-money laundering act covers a number of laws, regulations, and procedures to prevent criminals' illegal income and terrorist financing from being disguised as legitimate income. In the recent past, the national legislation on anti-money laundering and the financing of terrorism, aimed at preventing the introduction of revenues, which are [...]
Cloud-based Anti-Money Laundering (AML) Compliance The ways financial institutions employ to identify and prevent financial crime are evolving as well. Many organizations use AML cloud computing technologies to develop anti-money laundering solutions and for good reason. The ability to handle AML on the cloud provides businesses with a plenty of new tools in [...]
FATF Blacklists and Greylists FATF blacklist consequences concern many countries. The Financial Action Task Force was established in 1989 to establish international standards in the fight against money laundering, financing of terrorism, and the financing of the proliferation of weapons of mass destruction, and to take legal and institutional measures in line with [...]
Sanctions Regime in Turkey Money laundering is one of the most talked-about and on-agenda topics in Turkey, especially in recent years. With the globalization of the world economy, money laundering has become a serious problem that threatens not only Turkey but also all the countries aorund the world. The idea underlying the legal [...]
2nd MENA Regtech Executive Boardroom 2nd MENA Regtech Executive Boardroom Event will be held virtually on 7-8 September 2021. Fineksus will be the Strategic Sponsor of this event and company’s delegate & Regional Sales Director; Mr. Serkan Arslan, CAMS; will provide the latest information on industrywide Regtech solutions with AI and Machine Learning Practices in Anti-Money [...]
Countering Terrorism Financing (CTF) The practice of making illegal funds appear to have been earned legitimately is known as money laundering. According to the researches, laundered money from illicit financial activities is estimated between 2-4 billion USD annually, according to the IMF and World Bank. Injecting unlawfully obtained cash into the flow of [...]
5 Things That Cryptocurrencies Should Know for Anti-Money Laundering ComplianceThe whitepaper of “Bitcoin: A Peer-to-Peer Electronic Cash System” by Satoshi Nakamoto which was published in October 2008 introduced a secure electronic payment system via which the users can transfer values to each other without a need to an intermediary party or a financial institution for [...]
