Insights

Your hub for everything anti-money laundering (AML) and regulatory compliance insights. Subscribe and receive an email whenever we publish a new post. Usually once per month!

Taking initiatives to collaborate and talking with other businesses - facing the same challenges - will undoubtedly help organizations find effective processes and solutions quicker.

11 Apr 2024 | 6 min read

In 2023, Finanspolisen (Sweden's Financial Intelligence Unit / Police) received 56,136 suspicious activity reports, marking a 24% increase compared to the previous year. This surge in reports reflects a long-term trend where the number of reports has been steadily rising over time.

Blog

News

AML

26 Mar 2024 | 4 min read

Although sanction lists contain information on legal violations - which is not sensitive personal data but data that has had stronger protection in Sweden (Article 10, GDPR). Today, Swedish companies who wish to screen against OFAC's sanction list need to apply for and be granted permission from the Swedish Data Protection Authority (IMY). Without the permission, they are not allowed to screen against OFAC.

Blog

GDPR

AML

14 Feb 2024 | 8 min read

As usual, criminals exploit anonymity and global reach to move illicit funds. A recent study by KPMG found that 30% of gaming companies in the EU have been subject to money laundering investigations in the past five years. And, in 2023, the European Commission's report on Money Laundering and Terrorist Financing (ML/TF) identified the gaming industry as a high-risk sector for money laundering.

Blog

Crypto

AML

8 Jan 2024 | 4 min read

Criminals are always adapting to the tightening grip of anti-money laundering controls within traditional financial institutions. One such adaptation is the emergence of "micro laundering." Operating on the same principles as traditional money laundering – involving placement, layering, and integration – micro laundering distinguishes itself by relying on numerous small transactions to fly under the radar.

Blog

Crypto

Case studies

AML

4 Dec 2023 | 4 min read

December is here and the combination of holiday spirit, tax considerations, and strategic fundraising efforts makes this particular month a peak period for charitable donations and- along with it - an unfortunate annual a surge in money laundering activities..

Blog

GDPR

Case studies

AML

1 Nov 2023 | 6 min read

In today's digital age, the sharing of information plays a pivotal role in the global battle against financial crimes. The exchange of data among financial institutions and obliged entities is instrumental in identifying and combating illicit activities. However, a recent ruling by the European Court of Justice has left the financial industry at a crossroads. This groundbreaking ruling has sparked a significant shift in the way information is exchanged within Europe and has far-reaching implications for public-private partnerships and initiatives designed to combat financial crime.

Blog

GDPR

AML

24 Aug 2023 | 7 min read

Blockchain technology is a transformative force in the fintech industry, offering numerous opportunities and advantages for both companies and customers. In this blog we cover the basics of blockchain and outline some of the benefits and challenges of the technology.

Blog

AML

3 Jul 2023 | 7 min read

The talk of the town has been about MiCa, the world's first regulatory framework for cryptoassets implemented by the European Union. But what is it really about? We’ve broken it down for you!

Blog

AML

1 Jun 2023 | 6 min read

Large sums of money move within the real estate industry - which offers an opportunity for money laundering and terrorism financing. Especially since a large sum of money can be laundered in just one single transaction.

Blog

Customer onboarding

AML

11 May 2023 | 7 min read

Verified acquires Pliance following €31 million investment from Verdane and acquisition of Assently.

Blog

News

AML

3 May 2023 | 4 min read

As financial crime is becoming more sophisticated, anti-money laundering (AML) compliance work is more crucial than ever for financial services providers, but can be quite costly and time-consuming.

Blog

Customer onboarding

AML

12 Apr 2023 | 6 min read

Financial criminals continue to find new ways to lure the system into enabling their criminal activities, and laundering money through cryptocurrency is a growing concern. Not only is money laundering through crypto becoming increasingly difficult to spot, but preventing such activities is quite a challenge due to the anonymity that cryptocurrencies provide.

Blog

Crypto

AML

4 Jan 2023 | 7 min read

Taking initiatives to collaborate and talking with other businesses - facing the same challenges - will undoubtedly help organizations find effective processes and solutions quicker.

Blog

AML

10 Oct 2022 | 5 min read

Along with globalization, criminal organizations are getting a lot bigger and complex. It’s therefore not only crucial with effective anti-money laundering procedures, but also becoming necessary to digitize processes and harmonize legislation.

Blog

AML

23 Sep 2022 | 8 min read

In the face of changing customer behaviors, and an exponential growth of transactions being made, it's more important than ever having Anti-Money Laundering (AML) regulatory processes in place.

Blog

Customer onboarding

AML

2 Mar 2020 | 15 min read

When talking about blockchain technology you might think about bitcoin, that decentralized public ledger of transactions. The two dominating cryptocurrencies are Bitcoin(BTC) and Etherium(ETH), and as of this writing, the price of BTC is trading at nearly $8 717. ETH, on the other hand, is further behind at $223.

Blog

AML

Developer

7 Jan 2020 | 5 min read

Companies must take certain actions in order to prevent money laundering. A company failing to take such actions risks exposing both itself and its key individuals for severe consequences. Banks and other financial entities run the risk of being ordered to pay heavy fines in case of breach of the anti-money laundering regulation. Banks and other financial entities run the risk of being ordered to pay heavy fines in case of breach of the anti-money laundering regulation.

Blog

AML

6 Jan 2020 | 15 min read

The Swedish Measures Against Money Laundering and Terrorist Financing Act (referred to as the Anti-Money Laundering Act below) sets up a number of requirements that a wide range of financial firms and other operators conducting business in Sweden must comply with in respect of anti-money laundering. These requirements apply to and must be met by a wide range of entities, including banks and life insurance companies to organizers of casinos and lotteries.

Blog

AML

18 Dec 2019 | 10 min read

The term anti-money laundering ( referred to as AML) refers to laws, ordinances and other regulations, policies and procedures aimed at preventing money laundering and corruption. In Sweden, there are two main laws targeting money laundering, the Swedish Measures Against Money Laundering and Terrorist Financing Act (Sw. lag (2017:630) om åtgärder mot penningtvätt och finansiering av terrorism), (we will refer to it as the Anti-Money Laundering Act), and the Penalties for Money Laundering Offences Act (Sw. lag (2014:307) om straff för penningtvättsbrott).

Blog

AML

19 Nov 2019 | 7 min read

Criminal activity and money laundering are international occurrences and are often conducted across national borders. Since money laundering usually follows most profit-generating criminal activities, it can occur anywhere in the world.

Blog

AML