Wolfsberg reaffirms its commitment to the RBA, urging banks to embed ‘Proportionality, Prioritisation, and Effectiveness’ in FC controls, with plans to update its 2006 RBA Framework and 2015 FAQs

by | Jul 22, 2025

It urges institutions to tailor controls to their specific risk profiles and business contexts (proportionality), focus resources on higher‑risk customers and activities rather than applying blanket measures (prioritisation), and ensure programmes deliver measurable,...

CSSF’s 2025 NRA Report flags foreign criminal proceeds as Luxembourg’s top ML threat – driven by fraud, corruption, tax crimes, and drug trafficking, prompting stronger oversight and transparency

by | May 27, 2025

The report highlights that ML is primarily fueled by proceeds of foreign crimes, particularly fraud, tax evasion, corruption, and bribery. Domestic threats are less significant, with key risks arising from fraud, robbery, and drug trafficking. Legal arrangements now...

BoE’s AI Consortium explores AI’s role in financial services, focusing on benefits, risks, and safe adoption, while addressing growing concerns around financial crime, ethics, and resilience

by | May 2, 2025

The phrase “Shape Future” underscores the consortium’s role in influencing the evolution of financial crime detection and risk management, making it clear that the platform aims to bring innovation to these critical areas. It also emphasizes the dual nature of the...