FINTRAIL

🎉 Why does the FinCrime community love FFECON? Find out from past attendees in the video below! 👇 We’re gearing up for our biggest and best conference yet, featuring interactive sessions, expert speakers, and real-world strategies to tackle high-risk challenges in FinCrime. 🚀 Early bird tickets are available now! Don’t miss your chance to save – prices increase soon. 🔗 https://lnkd.in/eXiNxgh7 Join us on 27 February 2025 at 22 Bishopsgate, London for a day of learning, networking, and innovation! #FFECON25 #FinCrime #TheArtOfRisk #FinTech

🔍 Sanctions lessons from the FCA Starling Fine 🚨 FINTRAIL’s Emil Dall takes a deep dive into the recent FCA fine issued to Starling Bank, highlighting key takeaways for sanctions compliance. From screening against the full UK sanctions list to understanding the risks of cross-border payments, there are important lessons for firms of all sizes. 📖 Read the full article below to ensure your sanctions compliance is up to par 👇. #sanctions #financialcrime #compliance #fincrime

🇬🇧 The FCA has issued two Dear CEO Letter's on their expectation on APP fraud reimbursement for API/EMI's and one for banks and building societies. Whilst they have referenced these items before, The FCA has highlighted the below three areas that they expect from firms: 🔶 Have effective governance arrangements, controls and data to detect, manage and prevent fraud;  🔶 Regularly review their fraud prevention systems and controls to ensure that these are effective 🔶 Maintain appropriate customer due diligence controls at onboarding stage and on an ongoing basis to identify and prevent accounts being used to receive proceeds of fraud or financial crime. At FINTRAIL we have been assisting firms with independent reviews of their fraud controls over the last 12 months and beyond. If we can assist, do get in touch.

🚨 Here are three key FinCrime stories from September. Read our full monthly RegCap in the PDF below 👇 and visit our website for previous editions. 1️⃣ GLOBAL: The Egmont Group published "Best Egmont Cases: Financial Analysis Cases 2021-2023", highlighting 24 money laundering and terrorist financing cases from jurisdictions worldwide, showcasing new typologies and predicate offenses. 2️⃣ UK: The FCA made headlines by prosecuting an individual for running an unregistered crypto ATM network, marking the first criminal prosecution under the UK’s anti-money laundering regulations for crypto-related activities. 3️⃣ GLOBAL: Leaked documents reveal how the Wagner Group moved funds through global banks, including JPMorgan and HSBC, to finance its operations in Africa, raising concerns about financial institutions' involvement in illicit activities. Read the full RegCap below. 📥 #fintechnews #compliance #financialcrime #aml #sanctions

🚨 Did you miss our H1 2024 Audit Insights? 🚨 We recently released our overview of the most critical findings from our anti-financial crime (AFC) audits for the first half of 2024. One standout? Gaps in policies and procedures that fail to align with firms’ specific products or recent regulatory changes. 🔎 Key Finding: Many firms are using generic policies that don’t reflect their real risk profile or the latest requirements - such as the updated treatment of domestic PEPs or AML regulations. These gaps can create ambiguity, making it difficult for teams to meet their obligations under the Money Laundering Regulations. With regulations tightening and firms facing increased scrutiny, ensuring that policies are tailored, up-to-date, and actionable is essential to mitigating risk. 💡 Read our full blog for a deeper look at this issue, tips on strengthening your AFC policies, and more insights: https://lnkd.in/ePyRCCGT

🎉 The wait is over – FFECON25 tickets are now LIVE! 🎉 🔥 Early bird tickets are on sale from TODAY – don’t miss your chance to grab them before prices go up! Secure a spot at the most anticipated FinCrime event of 2025. 🙌 We've been working behind the scenes to bring you the most exciting FFECON yet – with more dynamic, thought-provoking, and impactful sessions than ever before. Expect cutting-edge FinCrime insights, expert-led discussions, and strategies to tackle high-risk challenges in the evolving financial landscape. 🔗 🎟️ Get your tickets here! https://lnkd.in/eXiNxgh7 🗓️ Join us on 27 February 2025 at 22 Bishopsgate, London. This is one event you can’t afford to miss! 🎤 🤝 Shout out to our amazing sponsors: First AML Fourthline Alloy Sumsub Resistant AI FincSelect TRM Labs Hummingbird SEON Moody's Corporation #FFECON25 #FinCrime #TheArtOfRisk #FinTech #EarlyBirdTickets #SaveTheDate

🙌🎙 Happy International Podcast Day! The FINTRAIL team love a good podcast (or TV show, film or book) about financial crime. Here are five of our favourite investigative miniseries from the past 12 months. Of course, we’ve also enjoyed perennial favourites “The Laundry” by Strise, “Suspicious Transaction Report” by Royal United Services Institute, and “The Dark Money Files” by Graham Barrow and Ray B. What have you enjoyed listening to? #fincrime #podcasts #internationalpodcastday

Legislators and supervisors such as the FCA have made it clear that tackling the risks of fraud must be a top priority for firms. Our Fraud Controls Checklist is designed to help you ensure your anti-financial crime framework is primed and prepared for the risks it faces. 💪 We have built this checklist following an extensive review of: ▪️ The upcoming APP fraud mandatory reimbursement requirements ▪️ PSR publications and guidance ▪️ The FCA’s most recent “Dear CEO letters” ▪️ The FCA’s latest publications on fraud ▪️ Relevant parts of the FCA’s Financial Crime Guide and JMLSG Guidance 🔗 Download it here: https://lnkd.in/eXErZbDS #fincrime #fraud #compliance

RegTech firms often face the challenge of navigating complex, multi-jurisdictional compliance requirements when developing new products. Sumsub partnered with FINTRAIL for an independent audit of their non-documentary identity verification product. We assessed its regulatory compatibility across 20+ jurisdictions, ensuring it meets both regulatory expectations and technical effectiveness. 💡 Find out more here: https://lnkd.in/eGQaMQSf #regtech #fincrime #compliance

🇬🇧 The Payment System Regulator in the UK has just confirmed that after consultation and careful thought, the maximum reimbursement limit for faster payments has been reduced to £85,000. Additionally, The Bank of England who manages CHAPS payments, has also set the maximum reimbursement limit to £85,000 as part of the same consultation. The limits will be reviewed and could be subject to change. Link 👉 https://lnkd.in/efATVAaA