Sanction Scanner Blog

As we leave behind a year of extreme activity for compliance teams thanks to global events and new regulations, we will discuss a few trends that potentially shape the AML industry in the coming year.

In this article, we will explore the biggest fraud trends to watch for in 2023 and offer tips on how to stay safe.

The Wolfsberg Group, a group of 13 global banks that aims to develop frameworks and guidelines for the management of financial crime risks, particularly in relation to customer recognition, anti-money laundering and terrorism financing policies, published the Wolfsberg Principles for Using Artificial Intelligence and Machine Learning in Financial Crime.

Deloitte, one of the world's leading consulting firms, recently held a special ceremony for the 17th Technology Fast 50, where it awards the fastest-growing technology companies in Turkey. Within the scope of the Fast50 Program, Turkey's most successful and promising technology companies were ranked according to their revenue growth.

Cártel de Jalisco Nueva Generación (CJNG) is one of the world's top five most dangerous international criminal groups. Since splitting from another cartel in 2011, the cartel has grown dramatically due to its propensity for violence and ability to recruit followers and sympathizers in small villages and economically disadvantaged areas.

With the AML struggle becoming more challenging by the year as criminals and terrorists adapt and acclimatize to preventive measures, adverse media screening has emerged as a powerful weapon in the money laundering battle.

One of the European Union's (EU) most important organs, the European Commission (EC) has released the third edition of its Supranational Risk Assessment Reports (SNRAs) and it covers the issues with anti-money laundering (AML) and counter-terrorism financing (CTF) more in detail than ever before.

As cryptocurrencies and blockchain technology become more and more popular daily, financial regulatory agencies are also trying to keep abreast of developments in these areas and manage them in a way that complies with regulations. Regtech (regulation technology) is a technological sub-sector that follows the developments in these areas and supports the business in accordance with the regulations in these areas.

The popularity of challenger banks in the UK has grown exponentially in recent years, according to the financial services industry. The FCA's recent review found that some challenger banks still have room to improve in terms of anti-money laundering and sanctions compliance.