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In this blog, Lucinity discusses the complex challenges Financial Institutions face when upgrading their compliance systems, contrasting the traditional 'rip and replace' approach with the more gradual 'upgrade and embrace' strategy.

The blog highlights how generative AI and copilots are transforming Suspicious Activity Reporting, making it more consistent and efficient, and generating higher-quality reports.

In this blog, Lucinity discusses the vital role of data sharing in combating financial crime. It emphasizes how collaboration among institutions and governments can amplify crime detection and prevention efforts.

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.

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.

Lucinity explores Generative AI such as chatGPT offers exciting opportunities for Financial Institutions, particularly in the field of Financial Crime and compliance investigations.

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.

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

The European Banking Authority released its guidelines on remote customer onboarding. These apply to both credit and financial institutions. At the same time, they set the standards within the EU for developing sensible CDD processes.

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.

In a recent ACAMS Today, different polls performed across several compliance practitioners showed a wide range of root causes for potential gaps in related compliance programs.

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.