FINTRAIL

Working with customers in high-risk verticals can be challenging from a compliance perspective. At FINTRAIL, we've helped clients develop sustainable business opportunities in sectors perceived as high-risk, such as adult entertainment, gaming, and crypto. Discover how we supported a major European digital payment firm in expanding into these high-risk verticals in our latest case study below 👇. #fincrime #compliance #aml #fraud

Financial crime risk assessments remain a top priority for regulators around the world; in the UK, the FCA has made it clear that they are a key focus for them in 2024. At FINTRAIL, we leverage our extensive experience to help businesses navigate these requirements effectively. In this video, our CEO Robert Evans outlines our approach to risk assessments. 📧 If you’d like more information about our services or need support with your risk assessment, please reach out to our team: [email protected] #RiskAssessment #Compliance #FinancialCrime

🚨 Understanding and Mitigating Risks in Virtual Accounts: A New White Paper from FINTRAIL 🚨 In today’s dynamic financial environment, virtual accounts are transforming cash management and payment processes. However, these advancements come with significant challenges and risks, particularly concerning financial crime. Our latest white paper explores the complexities of virtual accounts, including: 👉 A comprehensive overview of virtual accounts and vIBANs 👉 Detailed models illustrating their various applications 👉 In-depth analysis of financial crime risks specific to virtual accounts 👉 Practical recommendations for robust control frameworks 👉 Key insights from industry workshops and expert discussions 🕵️♀️ Whether you’re a financial institution, regulator, or professional in the fintech sector, this white paper is a vital resource to help you understand and manage the risks associated with virtual accounts. 📥 Download the white paper now to enhance your knowledge and strengthen your operations: https://lnkd.in/e-dKtRQq #VirtualAccounts #FinancialCrime #Fintech #Finance #Compliance #RiskManagement

🔵 Have you downloaded our updated audit checklist? 📝 We have created this free resource to help you get prepared for your upcoming financial crime audit and reduce stress and uncertainty! ➡️ Download it here: https://lnkd.in/eWyqcr-3 It covers the minimum regulatory requirements that firms should have and focuses on the key questions you should be asking about your control framework. ℹ️ Did you know? FINTRAIL offers both enterprise-wide financial crime audits and targeted assessments, covering fraud, sanctions, tax evasion, and more. Reach out to learn how we can support your compliance efforts. 📧 #fincrime #compliance #aml

🕵️♀️ Risk assessments are an important part of your anti-financial crime framework and a key focus for the FCA in 2024. They offer a comprehensive view of your financial crime risks and threats, guiding the necessary controls and systems to mitigate them, so getting them right is important. As starting a risk assessment can sometimes be challenging, the FINTRAIL team has developed a best practice checklist featuring critical questions to consider 👇. We hope you find this resource helpful! ℹ️ We conduct both enterprise-wide risk assessments and targeted assessments for specific products or risk areas (e.g., fraud risk). Our outputs are user-friendly and designed to facilitate practical, risk-based decisions and mitigation measures. To find out more, please reach out to our team. 📧 #FinancialCrime #RiskAssessment #Compliance

🚀 FINTRAIL Q2 REVIEW & Q3 OUTLOOK 🌟 As we wrap up another successful quarter, we're thrilled to share the highlights of our key projects and predictions for the FinCrime landscape. In Q2, we supported firms across multiple sectors, enhancing fraud strategies, enabling market expansion, validating transaction monitoring models, delivering crucial training, and conducting comprehensive risk assessments. Our FinTech FinCrime Exchange (FFE) achieved a milestone of 300 global members and facilitated pivotal discussions among senior leaders on consumer duty and financial crime compliance. Looking ahead to Q3, we anticipate a growing need for targeted reviews of control areas and an increasing demand for fraud-related engagements, especially in addressing APP risks and reducing liabilities. Have burning questions or eager to discuss any of the topics covered in our review? Don't hesitate to shoot us an email at [email protected] 📧 #FinTech #FinancialCrime #FraudPrevention #MarketExpansion #RiskAssessment

🚨 Here are five of the top global FinCrime stories from the past month. Read our full monthly RegCap below 👇 and head to our website for previous editions. 1️⃣ The Financial Action Task Force (FATF) held its final plenary under the presidency of T Raja Kumar of Singapore. Jamaica and Turkey were removed from the list of jurisdictions under increased monitoring (the so-called “grey list”), while Monaco and Venezuela were added. 2️⃣ FATF is in the process of updating its guidance on National Risk Assessments (NRAs) in particular concerning money laundering NRAs, and is inviting contributions from the private sector, civil society and academia. 3️⃣ The EU has agreed a new sanctions package against Russia, which for the first time will target supplies of liquified natural gas (LNG), which several member states still import from Russia. 4️⃣ The Financial Conduct Authority (FCA) announced that it will delay the output of its review into the treatment of domestic PEP - now expected in July. 5️⃣ The Global Coalition to Fight Financial Crime (GCFFC) has published a Financial Scams Report: An Assessment of Scams in East Asia - in Australia, Hong Kong and Singapore. It identifies 20 main types of scams and analyses factors which make countries more attractive targets. #fintechnews #compliance #fraud #aml #financialcrime

🎉 Thank you to everyone who joined us at last night's drinks social hosted by FINTRAIL and FincSelect! 🍹 It was a fantastic evening filled with great conversations, networking, and fun. We loved seeing so many industry peers come together and connect. Check out some highlights from the event below and stay tuned for more exciting events in the future. We look forward to seeing you again soon! James Nurse Robert Evans Greg Wlodarczyk Ciara Aitchison Ian Christie Jessica Hamilton (née Hodson) Josie Wait #Networking #FinTech #FinCrime

Understanding and protecting vulnerable customers is crucial in financial crime compliance. Our latest blog explores the regulatory meaning of vulnerability, the diverse factors that contribute to it, and the essential steps financial institutions must take to provide robust support. Highlights include: 💡 Key factors contributing to vulnerability 💡 Insights from the FCA's guidelines 💡 Practical steps for identifying and supporting vulnerable customers 🔗 Read the blog here: https://lnkd.in/eXQeDNk2 #fincrime #compliance #amlcompliance

FINTRAIL is absolutely thrilled to announce that our FinTech FinCrime Exchange (FFE) has won the Multi-Stakeholder Collaboration Award at the #ICAAwards! 🏆 This prestigious award recognises outstanding partnership and collaboration among stakeholders dedicated to advancing compliance best practices and fostering a strong compliance culture. FINTRAIL established the FFE in January 2017 after we identified that several of our consulting clients were experiencing the same typology of financial crime attack. We saw there was a clear need for a dedicated community for FinTechs to share this type of information with their peers, plus ideas for effective counter-measure. FINTRAIL’s consultants help join the dots, as well as provide a bridge between the numerous FinTech member firms and other stakeholders such as regulators and law enforcement. What started as a small roundtable with just six companies has become the leading FinTech compliance network, with over 300 member firms and more than 1,300 individual members from 43 jurisdictions around the world. The FFE has remained steadfast in its core mission: to unite global FinTech professionals collaborating on best practices in financial crime risk management. The FINTRAIL team is excited to continue growing the FFE community and delivering valuable insights and content. Stay tuned for exciting developments on the horizon 👀