Comment from CEO of AML Specialists Kompli-Global

March 2019 Fintech Finance

There has been recent controversy of the tech start-up, Revolut who was accused of violating bank rules by switching off an automated system that flags suspicious transactions that could indicate money laundering. At the same time, an EU report has highlighted “a lack of political will to tackle tax avoidance and financial crime.” We argue that to truly take the fight to money launderers EU governments need to step up and work together to combat criminal activity but businesses shouldn’t wait for regulators to act but safeguard their own operations through the technology available.