--- title: "Financial Crime – Elucidate" description: "Posts tagged Financial Crime" url: https://elucidate.co/tags/financial-crime --- # Financial Crime [Financial Crime](https://elucidate.co/category/financial-crime) [5 strategies to simplify complex data systems in financial crime risk operations](https://elucidate.co/blog/5-strategies-to-simplify-complex-data-systems-in-financial-crime-risk-operations) Managing financial crime risk operations is no easy task. Disconnected systems, inefficient processes, and outdated data workflows often hinder decision-making and growth. In this article, we outline five key strategies to streamline your data systems and empower your teams to work smarter. [Elucidate team](https://elucidate.co/blog/5-strategies-to-simplify-complex-data-systems-in-financial-crime-risk-operations) Jan 14, 2025  · 8  min read [Financial Crime](https://elucidate.co/category/financial-crime) [Streamlining risk ops: tools for today’s challenges](https://elucidate.co/blog/streamlining-risk-ops-tools-for-todays-challenges) Outdated systems and fragmented workflows are more than just inefficiencies – they’re barriers to resilience and growth. This blog examines the current approaches to risk and data operations and identifies why many systems fall short. [Elucidate team](https://elucidate.co/blog/streamlining-risk-ops-tools-for-todays-challenges) Jan 14, 2025  · 8  min read [Compliance](https://elucidate.co/category/compliance) [5 reasons why better compliance data equals a better correspondent banking relationship](https://elucidate.co/blog/5-reasons-why-better-compliance-data-equals-a-better-correspondent-banking-relationship) Here's how you can gather reliable compliance data to inform your self-assessment of risk performance and build better correspondent relationships. [Elucidate team](https://elucidate.co/blog/5-reasons-why-better-compliance-data-equals-a-better-correspondent-banking-relationship) Nov 9, 2024  · 7  min read [Financial Crime](https://elucidate.co/category/financial-crime) [5 reasons why the global anti-money laundering (AML) system is failing financial institutions](https://elucidate.co/blog/5-reasons-why-the-global-anti-money-laundering-system-is-failing-financial-institutions) 99% of money laundering proceeds remains in criminal hands - here are the key reasons why global AML/CFT controls are not working. [Elucidate team](https://elucidate.co/blog/5-reasons-why-the-global-anti-money-laundering-system-is-failing-financial-institutions) Nov 9, 2024  · 6  min read [Banks](https://elucidate.co/category/banks) [A technology-driven approach to managing sanctions risk for financial institutions](https://elucidate.co/blog/a-technology-driven-approach-to-managing-sanctions-risk-for-financial-institutions) The current sanctions landscape is incredibly fast-moving, showing little sign of slowing down. Using innovative tools can help firms navigate it. [Elucidate team](https://elucidate.co/blog/a-technology-driven-approach-to-managing-sanctions-risk-for-financial-institutions) Nov 9, 2024  · 4  min read [Compliance](https://elucidate.co/category/compliance) [Applying the rating agency model to financial crime](https://elucidate.co/blog/applying-the-rating-agency-model-to-financial-crime) In looking towards the future of the financial industry, it may be useful to look to the past, and the evolution of the credit risk industry [Elucidate team](https://elucidate.co/blog/applying-the-rating-agency-model-to-financial-crime) Nov 9, 2024  · 5  min read .svg) [Financial Crime](https://elucidate.co/category/financial-crime) [Correspondent banking: how transparent benchmarking can avoid unnecessary de-risking and maximise opportunities](https://elucidate.co/blog/correspondent-banking-how-transparent-benchmarking-can-avoid-unnecessary-de-risking-and-maximise-opportunities) De-risking can often be one of the first responses to working with banks in high risk categories. But does it have to be? [Elucidate team](https://elucidate.co/blog/correspondent-banking-how-transparent-benchmarking-can-avoid-unnecessary-de-risking-and-maximise-opportunities) Nov 9, 2024  · 6  min read .svg) [Financial Crime](https://elucidate.co/category/financial-crime) [Correspondent banking: when is digital technology truly transformative in tackling financial crime?](https://elucidate.co/blog/correspondent-banking-when-is-digital-technology-truly-transformative-in-tackling-financial-crime) “Digital transformation” is a banking buzzword. But when is it truly effective in the fight against financial crime? We explain what you need to know. [Elucidate team](https://elucidate.co/blog/correspondent-banking-when-is-digital-technology-truly-transformative-in-tackling-financial-crime) Nov 9, 2024  · 6  min read [Regulators](https://elucidate.co/category/regulators) [FATF reports on technology & AML: what we’ve learned (and what we’re missing)](https://elucidate.co/blog/fatf-reports-on-technology-aml-what-weve-learned-and-what-were-missing) FATF has launched two new reports looking at the use of technology for anti-money laundering purposes. What does this mean for the industry? [Elucidate team](https://elucidate.co/blog/fatf-reports-on-technology-aml-what-weve-learned-and-what-were-missing) Nov 9, 2024  · 4  min read [Financial Crime](https://elucidate.co/category/financial-crime) [Financial Crime is Financial Risk. Why is it not managed as such?](https://elucidate.co/blog/fincrime-is-a-financial-risk) Banks don't view the work of compliance departments as providing financial value but rather as a “cost center”. This view can be a big mistake. [Elucidate team](https://elucidate.co/blog/fincrime-is-a-financial-risk) Nov 9, 2024  · 7  min read .svg) [Regulators](https://elucidate.co/category/regulators) [Germany's FATF mutual evaluation report: a case for better data and analytics](https://elucidate.co/blog/germanys-fatf-mutual-evalution-report-a-case-for-better-data-and-analytics) The FATF has released their assessment of Germany's AML/CFT efforts, a 324 page report, which calls for a more unified data and analytics approach. [Elucidate team](https://elucidate.co/blog/germanys-fatf-mutual-evalution-report-a-case-for-better-data-and-analytics) Nov 9, 2024  · 6  min read [Financial Crime](https://elucidate.co/category/financial-crime) [How financial crime scandals reveal the need for risk monitoring tech](https://elucidate.co/blog/learning-from-data-leaks) Leaks and whistleblowers have become a usual method by which many large-scale financial crime events are uncovered. What can we learn from this? [Elucidate team](https://elucidate.co/blog/learning-from-data-leaks) Nov 9, 2024  · 3  min read [Compliance](https://elucidate.co/category/compliance) [Pricing financial crime risk](https://elucidate.co/blog/risk-based-pricing-baft) The shift from manual to automated, data-driven risk assessment is expected to transform how banks manage and price financial crime risk, promoting fairer practices and stronger standards across the industry. [Elucidate team](https://elucidate.co/blog/risk-based-pricing-baft) Nov 9, 2024  ·  min read .svg) [Financial Crime](https://elucidate.co/category/financial-crime) [Sanctions risks: KYC challenges and how to overcome them](https://elucidate.co/blog/sanctions-risks-kyc-challenges-and-how-to-overcome-them) From tech and operational challenges, to manual KYC and AML processes - here's how to tackle these challenges when evaluating sanctions risk. [Elucidate team](https://elucidate.co/blog/sanctions-risks-kyc-challenges-and-how-to-overcome-them) Nov 9, 2024  · 7  min read [Regulators](https://elucidate.co/category/regulators) [Standardizing financial crime risk assessments: The new approach by the EU](https://elucidate.co/blog/standardizing-financial-crime-risk-assessments-the-new-approach-by-the-eu) How a proposal for a single, harmonised supervisory assessment methodology for banks in the EU can change everything. [Elucidate team](https://elucidate.co/blog/standardizing-financial-crime-risk-assessments-the-new-approach-by-the-eu) Nov 9, 2024  · 5  min read [Financial Crime](https://elucidate.co/category/financial-crime) [Trust and transparency for a fairer financial ecosystem in the MENA region](https://elucidate.co/blog/trust-and-transparency-for-a-fairer-financial-ecosystem-in-the-mena-region) Last month, our CEO Shane Riedel moderated a panel discussion at the 2nd MENA RegTech Virtual Executive Boardroom Conference. [Elucidate team](https://elucidate.co/blog/trust-and-transparency-for-a-fairer-financial-ecosystem-in-the-mena-region) Nov 9, 2024  · 7  min read [Financial Crime](https://elucidate.co/category/financial-crime) [Unlocking the Power of the Network: Rethinking the Financial Crime Risk Framework](https://elucidate.co/blog/unlocking-the-power-of-the-network) The current framework for managing AML risk is underperforming despite the investments being made in terms of raw compliance spend. [Elucidate team](https://elucidate.co/blog/unlocking-the-power-of-the-network) Nov 9, 2024  · 6  min read [Governance](https://elucidate.co/category/governance) [We found over thirty new or expanded tasks the EU AMLA will be asked to take on](https://elucidate.co/blog/we-found-over-thirty-new-or-expanded-tasks-the-eu-amla-will-be-asked-to-take-on) The new AMLA is facing a growing list of expectations. How could the private sector help strengthen standards in the EU? [Elucidate team](https://elucidate.co/blog/we-found-over-thirty-new-or-expanded-tasks-the-eu-amla-will-be-asked-to-take-on) Nov 9, 2024  · 2  min read [Network management](https://elucidate.co/category/network-management) [What are the risks and limitations of the correspondent banking system?](https://elucidate.co/blog/what-are-the-risks-and-limitations-of-the-correspondent-banking-system) In this article, we discuss the risks in correspondent banking and how to overcome these to benefit your bank and bolster correspondent relationships. [Elucidate team](https://elucidate.co/blog/what-are-the-risks-and-limitations-of-the-correspondent-banking-system) Nov 9, 2024  · 8  min read [Financial Crime](https://elucidate.co/category/financial-crime) [What the Danske Bank scandal can teach us about financial crime risk management in correspondent banking](https://elucidate.co/blog/what-the-danske-bank-scandal-can-teach-us-about-financial-crime-risk-management-in-correspondent-banking) Danske Bank recently pleaded guilty to charges of money laundering. This scandal has significant implications for financial crime risk management. [Elucidate team](https://elucidate.co/blog/what-the-danske-bank-scandal-can-teach-us-about-financial-crime-risk-management-in-correspondent-banking) Nov 9, 2024  · 6  min read