Are you a FinTech Start-Up? Know Which AML Regulations Apply to You

 

U.S. anti-money laundering regulations are extensive, filled with explicit and implicit requests, and require studying. However, the benefit of knowing them is fundamental: It will save you time, money, and maybe your business. 

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Topics: Anti-Money Laundering, Fraud Prevention, Transaction Monitoring, FinTech, RegTech, Sanctions Screening

Sanctions Screening - Reduce False Positives

Sanctions Screening review of a flagged individual or company isn't hard, but it does take time, on average more than 19 minutes per flag. That’s not a lot of time, but when Financial Institutions (FIs) have thousands of flagged applications to review every day, it becomes a fulltime job for a team of people. The operational burden of clearing a large number of flagged applications impacts your profit margins by potentially reducing the number of customers accepted, and by increasing the cost of compliance operations, including regulatory fines.

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Topics: FinTech, Sanctions Screening

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