Arctic Intelligence warns many Australian businesses may be vulnerable to financial crime
Arctic Intelligence, a market-leader in financial crime prevention audit, risk and compliance software, warned today that many Australian businesses may be unaware that their internal risk assessment processes do not go far enough; leaving them vulnerable to money laundering, terrorist financing, sanctions and regulatory non-compliance. With organised crime is estimated to cost the Australian economy more than $36 billion a year (source: https://www.acic.gov.au/about-crime/crime-types), government regulations are tightening and the spotlight is on businesses who may be a target for financial crime, to ensure that they have appropriate controls and programs in place. The Australian Transaction Reports and Analysis Centre (AUSTRAC) is responsible for ensuring that more than 14,000 Australian businesses, […]
Arctic Intelligence reels in $2.8m to fuel global expansion
Arctic Intelligence, a provider of cloud-based audit, risk and compliance platforms, has raised $2.8m in fresh funding. The capital came from high-profile angel investors, comprising of experienced leaders in their field and includes entrepreneurs, career bankers, professional investors, venture capitalists and two ex-CEOs from publicly listed companies. It will allow the RegTech to fast-track its global expansion plans, starting with acquiring full control of AML Accelerate from its former joint venture partner, Initialism. Founder and CEO, Anthony Quinn, said, “Following our capital raise, it was a logical move to acquire Initialism’s stake in AML Accelerate to take full ownership and control, an important step in achieving our future growth plans. […]
Arctic Intelligence
Arctic Intelligence is a leader in regulatory compliance and risk management software and helps companies of all sizes to easily and cost effectively manage their financial crime risk exposure.
Businesses need to assess money laundering risk more frequently
Arctic Intelligence found that many businesses vulnerable to money laundering and other financial crime may not be conducting comprehensive risk assessments
Overcoming the three most common challenges in designing, implementing and managing mitigation controls to address money laundering and terrorism financing risks
There are three distinct challenges that many SMBs face when assessing money laundering and terrorism financing risks.
Top three challenges businesses face in meeting regulatory expectations for money laundering and terrorism financing risk assessments
Many businesses lack the knowledge, skills, and experience to identify and assess how they could be exploited by organised criminal networks.
The key elements of an effective ML/TF risk assessment and AML/CTF Program
Does your business understand its risk exposure to money laundering and terrorism financing?
The Finalists of the 2024 Finnies awards have been announced
The finalists for Australia’s 2024 Finnies fintech business awards have been announced.
