Global Radar, Author at AI- Powered Risk Management Platform

By Global Radar 15 July, 2025

Singapore Levies Major Penalties on Nine Banks in Billion-Dollar Money Laundering Case, Falls Short on Personal Liability

Last week, Singapore’s central bank, the Monetary Authority of Singapore (MAS), imposed collective fines totaling a whopping S$27.45 million ($21.5 million USD) against a total of nine financial institutions, a list including notable names such as UBS, Citibank, and Julius Baer Group, in connection with a major money laundering scandal that rocked the city-state in […]

By Global Radar 8 July, 2025

U.S. Treasury Announces New Sanctions to Disrupt Iranian Oil Trade, Terror Group’s Financial Backing

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has recently announced two significant sets of sanctions targeting illicit financial networks tied to Iran and its ally in Lebanese militant group Hizballah, reinforcing the U.S. government’s commitment to curbing destabilizing activities in the Middle East. These actions, taken during a ceasefire in […]

By Global Radar 30 June, 2025

Treasury Issues Historic Orders to Counter Fentanyl Trafficking, Prompting Response from Mexico

On June 25, 2025, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) – the bureau responsible for collecting and analyzing financial information to combat money laundering, terrorism financing, and other financial crimes both domestically and abroad – issued unprecedented orders targeting three Mexico-based financial institutions for their alleged roles in laundering money […]

Bank Compliance Software With Regulatory Change Management

By Global Radar 30 June, 2025

How Do AML Programs Handle Customer Due Diligence at Scale?

Large institutions onboard thousands of customers every month. Each one needs to be screened, verified, and reviewed. That sounds tough for any compliance team to handle manually. Yet skipping steps or rushing through checks creates risk — risk that can lead to fines, fraud, and regulatory trouble. That’s where scalable Anti-Money Laundering (AML) systems step in. Let’s […]

By Global Radar 27 June, 2025

How Do High-Risk Clients Slip Through AML Systems That “Tick the Box”?

Most AML software claims to cover your risk. Many tools promise compliance and quick onboarding. But behind those promises, high-risk clients still sneak through. Not by brute force—but through loopholes, human gaps, and stale tech. Let’s break down how they do it, why basic software doesn’t work, and what needs to change if you want […]

By Global Radar 27 June, 2025

What’s the Hidden Cost of Not Automating Client Onboarding?

Many firms still manage onboarding manually. It may seem cheaper. It may even feel more secure. But there’s a price. And it runs deeper than most expect. Skipping automation can slow you down. Worse—it can hurt trust, invite fines, and push good clients away. Let’s look closer at what happens when automation is left out […]

By Global Radar 26 June, 2025

From Passive Checks to Proactive Defense: UBO Screening’s New Role

At Global RADAR, we’ve seen how the fight against financial crime has changed. The old playbook—run a few checks, store a few documents—doesn’t cut it anymore. Risks have shifted. Ownership has grown harder to trace. Compliance teams now need more than checklists. They need systems that reveal the full picture, fast. Ultimate Beneficial Ownership screening is […]

By Global Radar 23 June, 2025

AI-Powered Money Laundering: A Growing Threat to Financial Integrity

As the golden age of technological development continues to unfold and artificial intelligence (AI) continues to achieve mainstream utilization by businesses and individuals alike, the growth of AI-backed protocols has already contributed to significant improvements in workflow and operational efficiency across the financial realm. With AI now being used by financial institutions to better meet […]

By Global Radar 16 June, 2025

Weekly Roundup: OFAC, DOJ Levy Major Penalties for Sanctions Shortcomings

As the global crusade on financial crime continues worldwide, several significant developments in anti-money laundering (AML) and counter terrorism financing (CFT) took place domestically last week, underscoring enforcement efforts taken by the U.S. government as part of its intensified focus on sanctions compliance and illicit financial activities, particularly involving foreign entities seeking to exploit vulnerabilities […]

By Global Radar 9 June, 2025

U.S. Treasury Intensifies Sanctions on Iran’s Shadow Banking Network

In a significant escalation of its already high-pressure campaign against Iran, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on June 6, 2025 announced the imposition of new sanctions on over 30 individuals and entities linked to a major Iranian shadow banking network. Concurrently, the U.S. Treasury Department’s Financial Crimes Enforcement […]

Author: Global Radar