LONDON, UK, December 13, 2022 /EINPresswire.com/ -- Sanction Scanner, the leading AI-first Regtech company in the compliance sector, released its annual report for the 2022 AML industry. The report aims to overview the year, highlight the critical improvements, and give insights into sectoral experiences. It includes 2022 trends, leading news of the year, novel regulations and updates, and key takeaways for all actors in the industry.

Since the first Covid-19 case was identified in 2019, the world has taken a new shape according to the pandemic. Players in the sector have been talking about it for two years and supposed that they will continue with it or its aftereffects this year. However, another crisis outbroke in February, which affected and changed the sector’s center of gravity as well as many other fields: the Russian invasion of Ukraine.

The war, which has immediate effects on almost all sectors on a global scale, just like the pandemic, directed states and international organizations to rapid legal developments for new sanctions regarding AML/CTF. But on the other hand, it also led companies operating in this field to take action at the same pace and comply with new regulations.

Developments in the digital world and technology, critical issues for all sectors, are also among the main topics for the compliance field in addition to the war and the pandemic. In this context, improvements in crypto assets that gained momentum with digitalization are mentioned as one of the top news headlines of 2022. The rapid increase in the market share of virtual assets and the number of companies working in this area attracted attention throughout the year. The leading news section also mentions the digitalization of banking operations and Neobanks.

Another observation is that the Regtech market and the need for them are growing. Regtech organizations, which provide services to companies of different scales for AML compliance and other software systems, continue to increase their importance for financial technology companies with smart methods. Furthermore, developments in artificial intelligence and new and strengthening financial instruments such as NFT and Defi are amid 2022 trends. However, these developments and the regulations lagging behind them result in problems in the field of AML/CTF. Therefore, the importance of cyber security and investments in this field is increased.

Because of the Russo-Ukrainian war, the year was full of sanction packages and regulatory updates. Besides, the report draws attention to new regulatory updates from leading authorities like FATF and EBA. There was a general tendency to the stricter rules generated by the legal effects of the Covid-19 and Russian war.

The year 2022 brings up several crucial points to be adjusted for companies. These points and details of the above-mentioned issues are examined meticulously in the Sanction Scanner’s Annual Report.

It is prepared for an overview of 2022 and goals to provide beneficial insights for all related institutions and interested people in the sector. As one of the actors in the sector, Sanction Scanner is proud to contribute to the industry and fight against financial crimes.

Here you can reach the 2022 AML Report.
https://sanctionscanner.com/resource-library/aml-annual-report-2022

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