AML

This blog explores financial intelligence units (FIUs), covering 4 models and highlighting the crucial role of advanced analytics and privacy-enhancing technologies in supporting FIUs.

Today, I'm excited to share a deeply personal milestone, one that's been five years in the making: the launch of Luci. It's not just an AI tool—it's a game-changer, moving financial crime prevention from a process that took hours to one that takes minutes.

Italy has banned ChatGPT, an OpenAI startup, due to concerns about violating EU data privacy regulations, sparking a debate on AI regulation. In this blog, we discuss three dimensions of AI: regulated, responsible, and restricted.

From stopping human trafficking to dealing with artificial intelligence, Lucinity highlights four areas where the financial crime system could use major improvements.

In this blog, we discuss whether AI is already being used by bad actors to commit financial crimes and perform fraud against financial institutions and their customers.

Compliance decision-makers should always factor in budgets when implementing new compliance technology, but more importantly, they must consider the long-term impact and ROI of their choice to build vs. buy.

Fast-paced geopolitical events, regulatory changes, and low-cost measures can grind compliance to a halt. A year in from the invasion in Ukraine, we look at how long-term compounded monitoring frameworks translate into equally complex controls, and how FI's can use technology to help.

It isn't easy to wrap your head around Embracing Equity in the AML industry when human trafficking-related typologies mainly target women. A multi-faceted approach and collaborative effort must be made by all parties involved.

Dutch banks have recently introduced fees hitting commercial customers, foundations, and churches. These fees cover the extra compliance costs needed to fight financial crimes. The measure has been assessed as "bizarre and ridiculous" by the customer segments affected.

In February 2023, the Financial Conduct Authority (FCA) published a Synthetic Data Feedback Statement that Lucinity contributed to. Read further for a summary of Lucinity's perspective on the challenges and opportunities of using synthetic data, specifically within financial crime.

Let's break up with legacy AML systems!

The AML industry is being transformed by the marriage of human intelligence and technology through augmented intelligence and generative AI. These technologies are making compliance teams faster and more efficient with a significant ROI.

Get informed about transaction monitoring and how it can benefit your business in the fight against financial crime.

The increasing geopolitical tensions between the United States, Russia, and China will likely drive the Compliance agenda during 2023. Regulation is expected to become considerably tighter over the next few years, so we've outlined what we think will be the biggest trends in 2023.

AML compliance includes processes, policies, and training. Financial Institutions (FI) have invested heavily in Compliance, but each year they've been careful to ensure that FIs covered other risk functions and reputational risks

The recent case and court ruling favoring Dutch challenger bank, Bunq highlights how advanced Anti-Money Laundering (AML) tools and practices are gaining ground across the Financial Services industry.

In a recent article by techhq.com, Lucinity's Expert in Financial Crime & Regulatory Transformation, Francisco Mainez, discussed the unique capabilities of Human AI.

Enhanced Due Diligence covers not just onboarding your customers but also your supply chain.

Buying a regular AML compliance solution for your crypto business upsets the balance of power between your UVP and the expectations of the AML vendor.

Will SAR filing be the end of the hero's journey, or do you have enough strength in you for one last stand?

Rethinking the role of AML compliance using technology both unlocks cost offsetting for compliance and provides insights in customer data for revenue-generating opportunities.

Actual AML professionals explain why it’s so hard to shine light on financial crime, in their own words.

We want to make all money good, not just fiat money!

Welcome to the future of AML, we’re delighted to have you with us!

These are exciting times for us who have a passion for better financial services.

Innovative ways to create a holistic view of customers based on insights derived from data sources such as KYC, transaction monitoring, and screening.

"Money laundering is too big for anyone, or anyone tool, to solve it in isolation."

Justin Bercich, Head of Artificial Intelligence at Lucinity, writes on what he believes the AML trends of 2021 will be.

For a can-do approach, we need can-do tech solutions.

With the help of machines and intelligent tools such as the Lucinity platform, we can understand AI and leverag it for making the right decisions quickly.

The number of AML fines levied in the first half of 2020 outnumbered those for the entire year of 2019. How can we change this course?

The FinCEN files have shown that it’s time for a change in AML. We must take a completely new approach in order to catch up with the speed of innovation in financial crime.

While communities’ worldwide band together during trying times, scientists collaborate and human compassion is on full display, some rotten apples take advantage of the situation.