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The Necessity for Cryptocurrency Firms to Follow AML Regulatory Requirements

The Necessity for Cryptocurrency Firms to Follow AML Regulatory Requirements

Crypto firms are excitingly progressing and becoming successful each day; however, with the lack of an AML regulatory framework, it can become hard for firms to prevent money laundering. AML regulatory requirements are necessary, and crypto firms are gradually leveraging the same. Read along to explore more.

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All You Need to Know About TFS, Assets, and Funds in AML Strategies

All You Need to Know About TFS, Assets, and Funds in AML Strategies

Have you ever heard about Targeted Financial Sanctions? Well, the process of TFS is one of the essentials laid down to ensure peace and international security. Everything fulfils one motive, from freezing funds to restricting access to assets.

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A Comprehensive Guide on Targeted Financial Sanctions

A Comprehensive Guide on Targeted Financial Sanctions

The authorities have understood how important it is to stop the increasing risk of money laundering. In response, they have laid down some effective laws and regulations that can assist in blocking the intrusion of money launderers. Read along to learn about TFS, which helps in cutting off the resource access of money launderers.

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A Detailed Guide on AML Fines and Penalties in 2022

A Detailed Guide on AML Fines and Penalties in 2022

Money laundering cases are increasing, and it is time to control them effectively. It is important to access AML software solutions to detect, investigate and report fraud. AML-TRACE is leading the market with its amazing results. Read through the blog to know how important it is to waive off the laid-down fines and penalties.

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Challenges Faced During the AML Transaction Monitoring

Challenges Faced During the AML Transaction Monitoring

AML transaction monitoring is the process of tracking all financial transactions to identify suspicious activities immediately. However, the process has some challenges that can make it difficult to manage with the AML transaction monitoring system. Read through the blog to know more about the challenges.

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Policies Issued for Responsible Gold Sourcing: MOE in UAE

Policies Issued for Responsible Gold Sourcing: MOE in UAE

Gold trading is one of the most lucrative industries yet infused with fraudulent gaps and potential financial risks. Money laundering laws have recently applied for responsible gold sourcing that will control the increasing rate of money laundering cases. Read through to know more.

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Bifurcation of Sanctions Lists Based on Individual Concerns

Bifurcation of Sanctions Lists Based on Individual Concerns

Money laundering cases can be controlled by adhering to sanctions screening. The sanctions list is defined on different grounds, which helps countries keep unusual activities at bay.

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Sanction Screening Process: The Impact and CBUAE Impositions

Sanction Screening Process: The Impact and CBUAE Impositions

The sanction screening process helps organizations and monetary establishments to do whatever it takes to shield their funds. The cycle stays agreeable with the KYC and AML guidelines. The Central Bank of UAE recently imposed some important financial sanctions on the banks in UAE.

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AML Transaction Monitoring Request to Information: A Detailed Guide

AML Transaction Monitoring Request to Information: A Detailed Guide

The Transaction Monitoring Request for RFI is a report centered around the requests coming about because of the exchange observing cycle. AML monitoring has observed a lot of acquired sufficient consideration because of the increasing illegal tax avoidance cases. Read through the blog to know more.

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Suspicious Activity Report: Meaning and Process

Suspicious Activity Report: Meaning and Process

Suspicious Activity Report is a document that collects information about the unusual events happening around. The money laundering cases are not just financial breaches but also terrorist financing and illegal activities. To limit the access of financial information to the money launderers, a SAR report has been developed. Read through the blog to know more.

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Politically Exposed Persons: Types and Red Flags As Set by FATF

Politically Exposed Persons: Types and Red Flags As Set by FATF

“Others have better means than us”, and “a resourceful person can leverage the power for benefits” we usually hear this around us. Actually, all this is true. Resourceful people surely have better chances of attaining some benefits than others. And, can be instrumental in pushing easily the illicit funds into the economy.

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AML Risk Assessment- Developing a Plan For Your Company

AML Risk Assessment- Developing a Plan For Your Company

Are you still confused if you need to develop an AML risk assessment plan? Let us help you. Yes, you need to do it. Money laundering cases are increasing daily, and no one said your business is immune to financial frauds. So, buckle up and understand the need to do it.

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Cryptic Lovers or Crypto Scammers, Who Knows?

Cryptic Lovers or Crypto Scammers, Who Knows?

Today, dating apps are in wide use. And surprisingly, scammers are taking it over. Pig butchering is like a scam where people connect with the normal public through dating apps. They build a fake relationship with the victim and somehow manage to push their interest in crypto investment. Once done, they cut them off their investments illegally.

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All You Need To Know About KYC and Its Benefits

All You Need To Know About KYC and Its Benefits

Money laundering cases need to be controlled, and KYC helps financial institutions block the gate of fraud. Know Your Customer is the best way to know the identity of your customers and decide if they meet the security standards.

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All You Need To Know About KYCC and KYB

All You Need To Know About KYCC and KYB

If you are still thinking about the increasing rate of financial fraud, you need to understand the best ways to avoid them. KYCC and KYB are extensions to the process of preventing money laundering cases. Get to know more about it here

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The Role of AML Compliance Program In Preventing Financial Frauds

The Role of AML Compliance Program In Preventing Financial Frauds

Financial breaches are on a massive rise and need to be addressed with serious consequences. Turning to AML compliance programs is the best way to keep up with the prevention. AML-TRACE simplifies the whole process and helps you avoid money laundering threats.

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Red Flag Indicators Of Money Laundering

Red Flag Indicators Of Money Laundering

Crime is not always physical but can be committed financially too. Money laundering cases are on the rise, and we don’t know whom to blame. The government is implementing the right regulations, and companies are coming up with effective AML transaction software and systems to detect financial crimes. There is nothing more to be done in order to prevent financial breaches. When you ask a professional about the same, they will suggest a few red flag indicators to look out for. No matter what type of transaction is done by what type of company, you should always be cautious of these flags.

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Safeguard Your Transactions With The Best AML Transaction Solution

Safeguard Your Transactions With The Best AML Transaction Solution

The payment industry attracts a huge risk of money laundering and therefore requires AML transaction monitoring software to prevent the loss. The payment industry should access the finest AML transaction monitoring solutions to sustain power in the market.

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How to Curb Money Laundering in Insurance Sector

How to Curb Money Laundering in Insurance Sector

Illegal financial funding is unstoppable in today’s changing technology. There is always a gap to fill. However, the best attempt to protect financial institutions like the insurance sector can be well achieved by technology itself. With the help of the latest AML regulations, insurers can ensure the safe functioning of their enterprise

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How is AML Reporting Helpful in Preventing Money Laundering in Businesses?

How is AML Reporting Helpful in Preventing Money Laundering in Businesses?

AML policies elevates the liable functions of a business and eliminate any potential risks of financial crimes. It is necessary to understand the essential functioning of AML as it can help businesses determine an office setting that is free of any illegal financial activity.

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Approaches To Adopt To Avoid Money Laundering Risks

Approaches To Adopt To Avoid Money Laundering Risks

Money laundering is undoubtedly one of the greatest risks any business or financial institution can imagine getting into. Keeping evidence and running forensic analytics are a few approaches that can help the institutions to avoid money laundering cases. Read more to know.

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Develop AML Risk Management Plan To Evade Money Laundering

Develop AML Risk Management Plan To Evade Money Laundering

It's time money laundering risks come to the light. AML software is one of the most effective ways to eliminate money laundering cases.

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Targeted Financial Sanctions for DNFBPs: An Overview

Targeted Financial Sanctions for DNFBPs: An Overview

All Designated Non-Financial Businesses and Professions need to comply with the obligations as per Cabinet Decision No. 74 of 2020 for UNSCRs 1718 (2006) & 2231 (2015).

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All You Need to Know About AML Compliance Audit

All You Need to Know About AML Compliance Audit

INcreasing financial transactions is leading to security breaches and significant losses. With AML-TRACE, secure your finances and prevent any intrusion. Accept the ardent need for an AML-compliance audit and streamline your financial records.

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Significance of AML Name Screening

Significance of AML Name Screening

Internationally, regulators view name screening with the most scrutiny. If any illegal activity is identified, the defaulting party’s data is investigated, and they are penalized for the lapses identified in sanctions-related compliance breaches.

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AML Regulations in the Insurance Sector

AML Regulations in the Insurance Sector

Devising and strictly implementing AML regulations is necessary in the Insurance Sector. Read on to know these directives laid out by the local and international regulators, including the European Union and the FATF.

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Relationship Between Money Service Business and Money Laundering

Relationship Between Money Service Business and Money Laundering

MSBs deal with cash & one-off transactions that if not impossible, are hard to track. This puts them at money laundering or financial fraud risk. AML-TRACE is a one-stop compliance solution that effectively minimizes this risk.

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5 Benefits of Effective AML Sanctions Screening

5 Benefits of Effective AML Sanctions Screening

Today, more than ever, financial institutions are facing tremendous pressure to up their regulatory compliance game and, at the same time, provide exceptional service to their customers. Fast and seamless business operations are the order of the day. AML-TRACE helps your company achieve this and much more.

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All About Notice of Proposed Rulemaking

All About Notice of Proposed Rulemaking

A pilot program has been proposed by FinCEN that permits certain financial institutions to share Suspicious Activity Reports aligning with Section 6212(a) of the Anti-Money Laundering Act of 2020.

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Jordan’s Jurisdiction Under CBJ’s Whip: A Glance

Jordan’s Jurisdiction Under CBJ’s Whip: A Glance

Following the October 2021 review, FATF places Jordan among the jurisdictions put under increased monitoring. Jordan has been put under the “grey list” in layman terms. So the country is set to strengthen its compliance policies swiftly.

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Assess Trade-Based Money Laundering Risk with AML-TRACE

Assess Trade-Based Money Laundering Risk with AML-TRACE

Violators exploit several loopholes of the cross-border trade process to launder money. AML-TRACE is a one-time installation automated software that tracks such illicit activities even when they occur under the radar.

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The Real Estate Business: A Real Delight for Money Launderers

The Real Estate Business: A Real Delight for Money Launderers

AML-TRACE helps you achieve regulatory compliance cost-effectively. It adopts an enterprise-wide approach to manage your KYC/EDD/CDD requirements right from initial onboarding till the culmination of the client’s dealing with the business. Your real estate business is in good hands with AML-TRACE: the best anti-money laundering solution for real estate.

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How Fraud Takes Place in the Crypto World

How Fraud Takes Place in the Crypto World

It all happens with criminals working their way around the concepts of Proof of Work and Proof of Stake. Simply put, PoW is the cost of producing a Bitcoin, while PoS is the interest fetched on the cryptocurrency owned. But thanks to whistleblowers and the protection given to them, the day is not far when more regulation will come into the world of Crypto.

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Achieve Regulatory Compliance: Perform Customer Screening with AML-TRACE

Achieve Regulatory Compliance: Perform Customer Screening with AML-TRACE

A majority of companies worldwide have automated their KYC and Customer Due Diligence processes. But the risk assessment approaches are mostly inflexible. So such businesses are succumbing to the added pressures of high costs. Use AML-TRACE and stand out from this league of enterprises.

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Why Do Businesses Need an AML Transaction Monitoring Software?

Why Do Businesses Need an AML Transaction Monitoring Software?

The Transaction Monitoring mechanism in AML-TRACE identifies suspicious transactions made in digital or fiat currencies. With it, identify financial fraud as and when it occurs. The software also identifies potential threats through transaction monitoring. Read on to know more.

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What is the Risk-Based Approach For Dealers in Precious Metals and Stones?

What is the Risk-Based Approach For Dealers in Precious Metals and Stones?

By their nature, precious jewelry, stones, & metals carry high value & can be easily transported. AML-TRACE helps such dealers engage in business activities while ensuring regulatory compliance.

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Role of Whistleblowers in Defrauding the Crypto Industry (Part 2)

Role of Whistleblowers in Defrauding the Crypto Industry (Part 2)

Accurate information is key to enforcing compliance. To encourage people to report the actions of money launderers, federal agencies award whistleblowers who provide original data that meets certain specifications.

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Role of Whistleblowers in Defrauding the Crypto Industry (Part 1)

Role of Whistleblowers in Defrauding the Crypto Industry (Part 1)

The world of Crypto has opened many doors for investment but not without a downside: several Ponzi-like scams & other dubious activities like money laundering, market manipulation, & tax evasion are fast spreading and strengthening their roots in the industry. And whistleblowers seem to be the only ones leading the way in cleaning up Crypto.

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Cryptocurrency & Money Laundering: An Assessment (Part 2)

Cryptocurrency & Money Laundering: An Assessment (Part 2)

In this article, know-how Bitcoin transactions make money laundering easier for criminals. Also, discover how criminals are increasingly seeking to exploit blockchain technology for their financial benefit.

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Cryptocurrency & Money Laundering: An Assessment (Part 1)

Cryptocurrency & Money Laundering: An Assessment (Part 1)

The crypto industry is the future of finance. But with digital currency wildly spreading its roots without any regulation, there’s an increased pressure on the concerned authorities to act soon, for avoiding a kind of collateral damage that can’t be undone.

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All About Anti-Money Laundering Directive (AMLD)

All About Anti-Money Laundering Directive (AMLD)

AML refers to the process & procedures used to prevent criminals from disguising illegally obtained money as legitimate funds. For clean money to circulate in the economy, strict regulation and monitoring are crucial. This is where an AMLD becomes imperative.

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Easily Configurable AML Software for All Businesses

Easily Configurable AML Software for All Businesses

An accurate AML compliance audit is possible only if customer and transaction data are properly recorded and managed to address money laundering threats. The challenge, though complex, is not unsurpassable with AML-TRACE.

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Minimize Your Business’ Financial Risks with the Best GoAML-Compliant Software

Minimize Your Business’ Financial Risks with the Best GoAML-Compliant Software

Recently, it has been made mandatory for all businesses in the UAE to file Partial Name Match Report & Funds Freeze Report along with Suspicious Activity Report & Suspicious Transaction Report. Harness the power of AML-TRACE to generate these reports.

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The Best AML Software with Flexible Deployment Feature

The Best AML Software with Flexible Deployment Feature

AML-TRACE protects your company against financial crime and risks while making it compliant with the regulations set by the authorities. Configure its features as per your business needs to get maximum protection against financial fraud. In this way, give your business the flight without worrying about financial security.

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Top Software for Ongoing Financial Monitoring: AML-TRACE

Top Software for Ongoing Financial Monitoring: AML-TRACE

As part of their KYC procedure, most companies conduct due diligence during customer onboarding. But this vetting process isn’t enough to keep your company’s financial risks at bay. Thus, an anti-money laundering transaction monitoring solution becomes crucial.

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Need for AML Tracking & Reporting: Preventing Corporate Financial Frauds

Need for AML Tracking & Reporting: Preventing Corporate Financial Frauds

The entire purpose of the AML-TRACE software is to detect & report any suspicious activity pertaining to financial fraud. Whether it’s money laundering, terrorist financing, securities fraud, or market manipulation, the accurate data made available by this solution helps SMEs take action and implement effective control mechanisms against the influx of black money in society.

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Reliable AML Software for Transaction Monitoring

Reliable AML Software for Transaction Monitoring

AML-TRACE is the one-stop solution. Know in detail why you absolutely need the software to minimize your organization’s financial risks.

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Tamper-Proof Customer Screening AML Solution

Tamper-Proof Customer Screening AML Solution

The KYC/CDD processes by AML-TRACE incorporate the latest technologies for providing end-to-end customer life-cycle risk coverage: customer on-boarding, ongoing due diligence, & enhanced due diligence. So, when we say that you will know your customer, we mean it. Read on to know the ins and outs of why we came up with this software.

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Designated Non-Financial Businesses and Professions

Designated Non-Financial Businesses and Professions

These entities are regulated in the same manner as credit & financial institutions. Every sector has certain anti-money laundering regulations set with respect to risk exposure of the nature of business. The list of DNFBPs is constantly updated and so, always remains relevant.

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Best AML Solution for Assessing Financial Risk

Best AML Solution for Assessing Financial Risk

The AML-TRACE software has a built-in risk assessment framework that captures financial fraud risk, right from onboarding till the end of the financial relationship with the customer.

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