Artificial intelligence has become the new backbone of financial crime compliance. Institutions that once relied on human analysts now lean heavily on machine learning to detect anomalies, flag high-risk clients, and predict suspicious behaviour before it happens. Yet behind the promise of speed and precision lies a growing ethical dilemma. The same systems that claim to reduce bias and human error can just as easily reproduce them, only faster and with greater opacity. The q

The Financial Conduct Authority has imposed a £44 million fine on Nationwide Building Society for significant failures in its financial crime systems and controls, reinforcing the regulator’s uncompromising stance on anti-money laundering governance across the UK banking sector. The penalty relates to weaknesses that persisted between October 2016 and July 2021, during which Nationwide was unable to effectively identify, assess, monitor, or manage money laundering risks withi

AI-generated fable remix: the tortoise plays it safe, the robot hare bolts ahead, but who is the ultimate winner? Generative AI, once a...

Fraud is no longer the work of lone actors exploiting isolated weaknesses. In today’s digital economy, financial crime has evolved into a...

We are living through a profound transformation in the architecture of risk. The convergence of deepfake technologies, generative...

A Financial Conduct Authority (FCA) survey has found that two-thirds of corporate finance firms not currently required to submit financial crime returns may be falling short of their obligations under the Money Laundering Regulations, raising concerns about weak oversight and inconsistent compliance practices. Corporate finance firms play a critical role in supporting the growth and success of the UK economy by helping businesses secure investment and lending. However, the FC

The European Banking Authority (EBA) has published a comprehensive report calling on supervisors across the EU to draw lessons from...

Artificial Intelligence is rapidly reshaping the architecture of financial crime compliance. Once a heavily manual, document-intensive...

The Financial Conduct Authority (FCA) has fined Sigma Broking Limited  £1,087,300 after the firm failed to submit complete and accurate...

The Wolfsberg Group has reaffirmed its longstanding position that the risk-based approach (RBA) remains fundamental to the design and...

The Financial Conduct Authority (FCA) has fined Barclays Bank UK PLC and Barclays Bank PLC a combined £42 million following two separate...

The rise of digital financial services has lowered barriers to entry for consumers and firms alike. With mobile-first solutions,...