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The funding comes at a critical time for the financial sector currently facing a dramatic increase in financial crime caused by the pandemic and exacerbated by growing instability in Eastern Europe.
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Why more accurate compliance data helps prove yourself to correspondent banking partners
Posts written by diverse members of the Elucidate team.
The current sanctions landscape is incredibly fast-moving, showing little sign of slowing down. Using innovative tools can help firms navigate it.
In this rapidly changing political landscape - here's how to overcome KYC challenges when evaluating sanctions risk.
De-risking can often be one of the first responses to working with banks in high risk categories. But does it have to be?
Despite the high compliance spending of FIs, more than 99% of money laundering proceeds remain in the hands of criminal gangs - we explain why.
The new AMLA is facing a growing list of expectations. How could the private sector help strengthen standards in the EU?
Lithuania's Center of Excellence in Anti-Money Laundering invited our Head of Public Sector to address the topic of Enterprise Wide Risk Assessments.
EU has a critical window of opportunity to put in place innovative yet feasible solutions to strengthen Europe’s protections against financial crime.
Announcing sanctions is one thing, ensuring that banks are putting them in place effectively is another challenge altogether. What can banks expect?
Understanding the key findings and challenges from the FATF Survey
The current framework for managing AML risk is underperforming despite the investments being made in terms of raw compliance spend.
Last month, our CEO Shane Riedel moderated a panel discussion at the 2nd MENA RegTech Virtual Executive Boardroom Conference.
Can compliance teams really be expected to go through 11.9 million Pandora Papers' files by themselves?
How a proposal for a single, harmonised supervisory assessment methodology for banks in the EU can change everything.
FATF has launched two new reports looking at the use of technology for anti-money laundering purposes. What does this mean for the industry?
The standard AML toolkit is being put under the spotlight. What is the missing piece of the anti-money laundering puzzle?
[Case Study] Learn about some of the major challenges faced by financial institutions with extensive correspondent banking relationships and networks.
"When did criminals start to realise the best way to steal millions was to just make their transactions very very boringly complicated."
Whilst innovation is challenging, it is also very much needed. What is preventing financial institutions from embracing innovation fully?
Within the banking and risk management industry, new tech should be viewed as an augmentation to improve team function and efficiency.
Financial crime is pervasive, dynamic, and often on such a scale that even the most apparently safe industries and regions are open for exploitation.
Times of crisis often lead to an odd mix of tragedy and innovation, and the global COVID-19 pandemic has been no exception.
In looking towards the future of the financial industry, it may be useful to look to the past, and the evolution of the credit risk industry
The revelations about the conduct and criminal activity of Isabel dos Santos has brought to the fore familiar issues in the financial crime space.
The startup founders share their perspective on Elucidate's genesis, evolution and vision
Information sharing and collaboration across all concerned parties within the financial system is critical to successfully combating financial crime.
When it comes to preventing financial crime, today’s banking industry is stuck in a cycle of endless investments, and limited returns.
Leaks and whistleblowers have become a usual method by which many large-scale financial crime events are uncovered. What can we learn from this?
De-risking emerged as an unintended result of banks with limited alternatives to new regulations. Technology is the strongest ally to fix this.
All too often, highly capable respondent banks are left disempowered by the industry's commonplace top-down financial crime risk management practices.
Without a right strategy and technology to support it, executives and Board Members put themselves at risk of being found liable for financial crime.
Banks don't view the work of compliance departments as providing financial value but rather as a “cost center”. This view can be a big mistake.
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