AML/CFT legislation impacts businesses across all sectors, whether large banks or local leasing companies. Regardless of size, everyone has a part to play in disrupting criminal activity and keeping our communities safe.
As the costs, risks, and regulations associated with achieving compliance continue to steadily increase, reporting entities in every sector require cost effective solutions that are the right fit for their particular risk profile and business environment.
AUSTRAC, the DIA, the FMA, the FCA and other regulators around the globe have increased scrutiny and expectations for financial reporting entities that are subject to AML/CFT legislation. This includes the widely varied mortgage and lending sector.
In some jurisdictions the risk rating for these reporting entities has moved up, which means there’s likely to be more pressure on entities to improve their programmes and prove they're compliant.
These regulatory requirements come with a cost. But the reputational and financial risk associated with non-compliance is not an option.
Changes in the business environment, as well as your continued success, will only increase the scale of the problem. It’s important that you have reliable, cost-effective systems in place to meet your AML/CFT obligations.
Easy to use, flexible, rules-based transaction monitoring that you can configure according to your risk profile – on your own or with our team.
What is transaction monitoring and what do I need to know about my monitoring risks? At a recent ACAMS virtual panel event, 3 specialists discussed this topic.Read More
Money remitter, Fexco Pacific, transforms its transaction monitoring programme, enabling it to meet its AML obligations twenty times faster.
Explore how the flexible Jade ThirdEye solution helps organisations to achieve AML compliance.