10 Practical Steps for Creating an AML Department
Building an Anti-Money Laundering AML department is a foundational requirement for any regulated financial institution. A well-designed AML function protects the organisation, supports sustainable growth, and demonstrates regulatory credibility. Below are ten practical steps that provide a clear framework for creating an effective AML department from the ground up. 1. Define the Regulatory Scope and […]
Tick-Box Compliance vs. True Risk-Based Practice:
Why the Gap Is Widening — and Why It Matters More Than Ever For years, regulators around the world have encouraged a risk-based approach (RBA) to AML/CFT. In theory, this approach allows financial institutions to allocate resources where risk is highest, reduce unnecessary friction, and focus on meaningful controls rather than bureaucratic processes. But in […]
Are We Entering the Era of Regulatory Overload — or Finally Closing the Gaps?
A StudyAML Perspective on the Global Surge in Compliance Requirements Around the world, regulators are accelerating the creation, expansion, and enforcement of compliance obligations. Whether in the EU with MiCA and AMLA, the U.K.’s consumer-duty and financial-crime reforms, the U.S. tightening beneficial-ownership reporting and data-governance standards, or APAC regulators intensifying AML/CFT expectations, one trend is […]
Wolfsberg Group Issues New Guidance on Banking Services for Fiat-Backed Stablecoin Issuers
Published: 8 September 2025By: StudyAML The global push to bring digital assets into regulated financial channels took another important step forward with the Wolfsberg Group’s release of its Guidance on the Provision of Banking Services to Fiat-Backed Stablecoin Issuers. The document provides banks with practical expectations for managing AML/CFT and sanctions risks when onboarding and […]
Compliance Fatigue: The Hidden Risk in Modern Financial Services
In today’s regulatory environment, compliance functions operate under constant pressure. New laws, updated guidance, enforcement actions, thematic reviews, and technological expectations continue to evolve—often simultaneously. While these developments strengthen the global financial system, they also create an unintended consequence inside financial institutions: Compliance Fatigue. Compliance fatigue is the gradual decline in attention, motivation, and engagement […]
Discovery Bank Fined R3 Million for FICA Compliance Failures
South Africa’s Prudential Authority sanctions Discovery Bank following AML/CFT compliance breaches The South African Prudential Authority (PA) has imposed an administrative penalty of R3 million on Discovery Bank Limited for breaches of the Financial Intelligence Centre Act (FICA), following a supervisory inspection that revealed deficiencies in the bank’s anti–money laundering (AML) and counter-financing of terrorism […]
Europe Moves Forward on the Digital Euro: ECON Committee Adopts Draft Report
The European Parliament’s Committee on Economic and Monetary Affairs (ECON) has taken a major step toward shaping the future of Europe’s financial ecosystem.On 31 October 2025, ECON issued its draft report on the proposed Regulation governing the provision of digital euro services by payment service providers (PSPs) in non-euro Member States — marking a significant […]
UAE Strengthens AML Enforcement: A Signal for Global Compliance Teams
The United Arab Emirates (UAE) has announced sweeping updates to its Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) legislation — marking one of the most significant global compliance developments of 2025. The new law expands the UAE’s regulatory perimeter, intensifies penalties, and reinforces the country’s commitment to transparency and financial integrity. It’s a clear sign that […]
When Compliance Delays Cost Millions: Lessons from JPMorgan’s Record Fine
In early November 2025, Germany’s financial regulator, BaFin, imposed a €45 million fine on JPMorgan Chase Bank’s Frankfurt branch for systematically delaying suspicious activity reports (SARs) between 2021 and 2022. The case marks BaFin’s largest-ever penalty against a bank — and it sends a clear message: even the most sophisticated institutions are not immune from […]
UK AML Supervision Reform: A Shift Toward Unified Oversight
The UK government has announced a significant change to its anti-money laundering (AML) and counter-terrorist financing (CTF) supervision framework — one that could reshape how professional services firms are monitored and held accountable. What’s Changing Under the current system, AML/CTF supervision in the UK is shared across multiple professional body supervisors — covering lawyers, accountants, […]
