This guide shares practical, expert-backed advice on building a smarter FWRA – helping legal firms strengthen AML compliance with clearer data, better templates, and more realistic assessments. … Read More
AML
Why firm-wide risk assessments fail – and what to do about it
Many law firm risk assessments fall short. This guide explores common failures and offers practical steps to build effective, SRA-compliant FWRAs using real operational data. … Read More
HMRC AML fines surge 177%: A data-driven analysis of four years of compliance failures
HMRC AML fines surged 177% over four years. This blog explores key enforcement trends, most fined sectors and regions, common breaches, and the evolving financial impact of non-compliance. … Read More
What Europol’s Serious and Organised Crime Threat Assessment (SOCTA) means for AML compliance teams
Europol’s SOCTA report reveals rising organised crime threats. AML teams must adapt risk assessments, enhance due diligence, and use tech to combat evolving financial crime. … Read More
Building an AML solution in-house: What it takes and the compliance challenges that follow
Building an in-house AML solution offers control and customisation but brings complex compliance challenges, technical demands, and ongoing regulatory risks. Weigh the benefits against costs, expertise, and long-term viability. … Read More
Build vs buy for AML software: Which offers the best fit for compliance?
Buying an AML solution ensures faster deployment, lower risk, and continuous compliance updates, making it the smarter choice for most firms over costly, resource-intensive in-house development. … Read More
NorthRow partners with IDVerse
NorthRow partners with IDVerse to streamline onboarding and compliance with advanced AI-powered identity verification … Read More
7 reasons why Ultimate Beneficial Ownership (UBO) identification matters
Accurately identifying Ultimate Beneficial Owners (UBOs) is vital for regulated firms tackling financial crime. This article explores the complexities of UBO identification, its regulatory importance, and how it safeguards against risks like fraud and reputational damage. … Read More
TD Bank’s $3bn fine: Balancing people and tech to avoid the next AML catastrophe
In a dramatic conclusion to one of the most significant AML cases in recent years, TD Bank was hit with a staggering $3 billion fine for violating the Bank Secrecy Act. The case exposed serious shortcomings in TD Bank’s AML policies, shaking the global financial industry and raising critical questions about the bank’s regulatory compliance. … Read More
6 tips to manage false positives and improve AML accuracy
In the complex realm of Anti-Money Laundering (AML) compliance, false positives represent a costly and persistent drain on resources. These erroneous alerts, often irrelevant to true risks, can overwhelm compliance teams, waste valuable time, and even raise regulatory concerns. … Read More