AML Watcher

Which Risk Prevails in MENA's AML Landscape — Sanctions, Terror Financing, or Illicit Flows? Join our webinar to explore the region's shifting financial crime threats, their complexities, and the strategic measures to combat them. Speakers: Oonagh van den Berg | Event Host - AML Watcher | Founder of RAW Compliance Ahmed Nagaty Elgazar | Banking and Governance Expert Sherif Sultan Elgendy | Banking Expert in Retail Banking business 📅 Date: 18th December 2024 ⏰ Time: 3 PM (UAE time) #AML #Compliance #MENA #Webinar #AMLWatcher

Risk assessment is the cornerstone of AML compliance—get it right, and you’re ahead of the game. Get it wrong? The consequences can be costly. Unfortunately, not every firm takes this responsibility seriously. According to the Solicitors Regulation Authority AML Annual Report 2023-24, the most common compliance failures were: - 87 cases: Failure to carry out a risk assessment on a client or matter. - 61 cases: Inadequate AML policies, controls, and procedures (PCPs). - 46 cases: Failure to conduct a source of funds check. These aren’t just lapses; they’re red flags that can lead to regulatory scrutiny, reputational damage, and hefty financial penalties. At AML Watcher, we understand how complex and critical risk assessment can be. Our tools are designed to make it easier, more accurate, and more effective—helping you stay compliant while mitigating risk. Learn how we can help you master your risk assessments here: https://lnkd.in/dt9mYw23 #AML #Compliance #AMLWatcher #SRA #MoneyLaundering #Regulations

What does ROI mean to you when it comes to AML compliance programs? Is it cutting costs, reducing false positives, or perhaps eliminating false negatives? What if you could achieve all of this with just one tool? Yes, AML Watcher delivers: 44% fewer false positives, 15% fewer false negatives, and significant cost savings on every check. Curious about how much you could save? Our ROI calculator is now live! Enter your search volume and current cost per check to see the savings for yourself. Try it here: https://amlwatcher.com #AML #Compliance #AMLWatcher #ROI #MoneyLaundering #Regulations

This holiday season, let’s embrace the festive spirit while staying alert against fraud and scams! Did you know that the holidays are prime time for fraudsters? If not, it’s time to get informed! Join AML Watcher for “The Tonight Show”—a lively LinkedIn Live session featuring industry experts discussing holiday frauds, scams, and ways to protect yourself. Stick around for engaging and fun activities! We will be joined by Oonagh van den Berg, Eimantas Vytuvis, CAMS, Kennedy Meda, CFE, CFCS, Louie Vargas, Rory Doyle CAMS, and James Nurse. Want to join too? Show your interest in the comments below. 📅 Date: December 18, 2024 ⏰ Time: 12 PM GMT #AML #Compliance #AMLWatcher #MoneyLaundering #Regulations #Sanctions

The European Union has adopted its 15th sanctions package in response to Russia’s ongoing war of aggression against Ukraine. These new measures aim to weaken Russia’s military capabilities and prevent the circumvention of existing sanctions. Targeted Listings - 84 new designations: 54 individuals and 30 entities. - Focus on military units, defense companies, leaders in the energy sector, and those involved in deportation, propaganda, and sanctions circumvention. Sanctions on Chinese Companies - Sanctions imposed on Chinese companies supplying critical components such as drones and microelectronics to support Russia's military activities. Addressing Circumvention - Port access bans extended to vessels involved in circumventing the oil price cap or transporting stolen Ukrainian grain. - 52 vessels were added to the sanction list, bringing the total to 79. Trade Restrictions - Stricter export controls on dual-use goods and technologies aiding Russia’s military. - 32 entities from countries like China, India, Iran, UAE, and Serbia involved in sanctions circumvention targeted. Protecting EU Companies - Prohibition on enforcing Russian court rulings that violate international legal norms. - New measures to protect EU central securities depositories (CSDs) from retaliatory actions. - Extended deadlines for EU businesses to divest from Russia, ensuring a swift and orderly exit. The Goal?  To weaken Russia's military capacity, stop the circumvention of sanctions, and protect European companies from retaliatory legal actions by Russian courts. As High Representative for Foreign Affairs, Kaja Kallas stated, this package of sanctions is part of our response to weaken Russia’s war machine and those who are enabling this war, also including Chinese companies.it sends a clear message: “Ukraine will win.” And with each new sanction, the EU sends a resounding signal of its commitment to the Ukrainian people on every front—military, economic, and humanitarian. The Global Impact These sanctions not only target Russia’s core military and industrial sectors but also expose the networks of international entities that support its aggression. The sanctions are a critical part of the EU's multi-dimensional strategy to hold Russia accountable while fortifying Ukraine's defense. However, with the EU’s sanctions now targeting Chinese companies supporting Russia, what does this mean for international trade relations and future geopolitical alignments? Read more here: https://lnkd.in/d48Naunp #AML #Compliance #AMLWatcher #MoneyLaundering #EU #Sanctions #Regulations #Russia

AML Watcher Webinar: Which Risk Prevails in MENA’s AML Landscape? Is it the biggest, most ground-shaking, or truly eye-opening webinar in the MENA region’s AML landscape? There’s only one way to find out—attend it! Join Ahmed Ahmed Nagaty Elgazar, who’s excited to share insights on prevailing AML risks and practical ways to tackle them. He’ll be joined by Oonagh van den Berg and Sherif Sultan Elgendy, industry experts ready to guide you through the shifting threats in financial crime, their complexities, and strategies to mitigate them. When? December 18, 3 PM UAE Time Register here: https://lnkd.in/dyQJ3FTM #AML #Compliance #AMLWatcher #MENA #MoneyLaundering #Regulations

Why is screening a crucial step in every investigation? Georgina Demetriades shares her experience, uncovering how criminals disguise their identities. Stay tuned for more stories like this! #AML #Compliance #AMLWatcher #TrueCrimeSeries #MoneyLaundering #Regulations

The Hidden Frontline: Redefining Anti-Money Laundering Regulations for DNFBPs In the shadows of high-value transactions lies a vulnerability often overlooked: the non-financial sector. Industries like real estate, legal services, and precious metals trading have become gateways for criminals seeking to launder illicit funds. Australia leads the charge with its AML/CTF Amendment Bill 2024, increasing the oversight of AUSTRAC to cover nearly 90,000 entities. Tranche 2 AML regulations aim to disrupt this silent exploitation, extending compliance obligations to Designated Non-Financial Businesses and Professions (DNFBPs). This groundbreaking shift redefines the fight and brings industries such as real estate, law, and art under stringent scrutiny, mandating practices like customer due diligence (CDD), beneficial ownership verification, and suspicious activity reporting. AML Watcher helps DNFBPs stay compliant by screening against global sanctions, watchlists, PEP data, and adverse media, monitoring high-risk individuals or entities, providing real-time alerts, and offering customizable risk parameters and proactive AML compliance. As we navigate this new frontier, one question remains: What can other countries learn from Australia’s leadership in implementing the AML/CTF Amendment Bill 2024? Read more about Tranche 2 AML Regulations here;  https://lnkd.in/dR6QhZwF #AML #Compliance #AMLWatcher #AustraliaBill #MoneyLaundering #Regulations

Myths can be very intriguing, but they’re often far from reality. Take, for example, the myth that AML Watcher’s coverage reaches Mars. Maybe one day—if humans manage to populate the planet and start laundering money, we’ll be right there to stop it! But for now, we’re focused on protecting Earth’s financial systems. Keep those myths coming, though—who knows what the future holds! The MENA region is widespread with financial myths, like the idea that AML laws don't apply across all its countries. If you’re curious about separating fact from fiction, join us for an insightful webinar where we’ll bust these myths and reveal the realities of AML in the region. Mark your calendar for December 18th at 3 PM UAE time and get ready to hear from experts including Oonagh van den Berg, Ahmed Nagaty Elgazar, and Christos Christou as they share their insights. Don’t miss out—register here: Registrationhttps://lnkd.in/dyQJ3FTM #AML #Compliance #AMLWatcher #MoneyLaundering #Regulations #MENA

Did you know wildlife trafficking extends far beyond illegal poaching? It's a crucial component of a sprawling multi-billion-dollar criminal network deeply intertwined with global money laundering operations. From ivory smuggling to fraudulent charities, illicit funds permeate every facet of wildlife trafficking. In this video, we delve into the intricate connections between these activities and uncover how criminal organizations exploit the wildlife trade to launder money. Discover the global initiatives aimed at dismantling these networks and learn what can be done to combat the financial crimes at their core." #AML #Compliance #AMLWatcher #WildlifeTrafficking #MoneyLaundering #Regulations