Smarter AI Needs Smarter Rules: Why the Future of Anti-Money Laundering Depends on Responsible Regulation
Artificial intelligence has the power to transform anti-money laundering (AML) systems, but without strong regulatory frameworks, even the best AI can fall short—or worse,...
U.S. Treasury Revamps Bank Secrecy Act, Allowing Banks to Shift Focus Away from Low-Risk Customers
In a sweeping change to America’s anti-money laundering framework, the U.S. Treasury has announced a major overhaul of the Bank Secrecy Act (BSA), empowering...
Malaysian High Court Drops 27M Ringgit Money Laundering Charges Against Ex-PM Najib — But Case Could Be Reopened
In a significant turn of events, Malaysia’s High Court has granted a discharge not amounting to an acquittal (DNAA) to former Prime Minister Najib...
Swiss Bank Pictet Fined Over $2.5 Million for Serious Lapses in Anti-Money Laundering Controls
One of Switzerland’s most prominent private banks, Pictet, has been hit with a fine of CHF 2 million (approximately USD 2.5 million) following revelations...
Canada’s New AML Legislation Set to Enforce Mandatory Compliance and Hefty Penalties
Canada is on track to significantly strengthen its anti-money laundering laws with the introduction of Bill C-2, known as the “Strong Borders Act.” Unveiled...
