SBWire

The beneficial ownership database that is planned in the US to further improve AML Compliance is causing more than a few ripples. The full set of rules that will govern the database have yet to be released but its purpose would be to create a resource that identifies the true or "beneficial" owners of legal entities such as companies or trusts. One of the biggest obstacles to improving AML Compliance response is the fact that it's been historically possible for those funneling illicit funds to remain hidden. Abuse of shell companies is well known as the reason why money laundering has been so easy in the past. So the database is, in principle, a good idea. However, a number of compliance professionals have voiced concerns about it, mainly that it could create an even heavier compliance burden that will be more difficult to fulfill.

The Swedish gaming authority has been cracking down on compliance failures in recent years and continues to work to enforce an anti-money laundering regime in the region. Spelinspektionen has been particularly critical of the AML Compliance Failures of Pinbet, ATG and Kindred all of which were under scrutiny by the regulatory authorities in investigations that began back in autumn 2021. Each of the investigations looked at a number of customers of these companies and analyzed the way in which AML Compliance had been implemented. The investigations found a range of AML Compliance Failures, for example at a Kindred subsidiary that was investigated, it was found that repeated alerts were being generated about one customer but these were never investigated further as long as the customer was winning. At ATG the regulator found that information on taxable income had only been collected for three customers and that most of the customers investigated had made large deposits without the origin of these ever being checked.

Early in December last year, the Dutch Co-operative bank Rabobank announced that it was under investigation by the public prosecutors in the Netherlands as a result of failures in AML compliance. Rabobank is one of the three biggest banks in the Netherlands and its competitors have already been issued with huge fines for violations like this. ABN AMRO, for example, was fined £574 million in 2021 and ING Group $900 million in 2018. So, the fact that the bank is about to go through a similar process doesn't bode well for Rabobank.

In December 2022 the European Banking Authority launched a public enquiry around guidelines aimed at the risks involved in providing access to financial services in the context of money laundering and terrorist financing. The purpose of the guidelines is to ensure free and fair access to financial services for all users and that no one is being denied the financial services that they need for reasons that aren't valid. We all need access to basic financial products - this is one of the foundations of modern life and something that most of us today take for granted.

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“According to SNS insider, The Data Centre Support Infrastructure Market Size is Escalated at US$ 52.48 bn in 2022, and is expected to reach US$ 120.43 bn by 2030, with a growing healthy CAGR of 10.94% over the forecast period 2023-2030.”

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The estimated size of the Global Visible IP Intercom Market was 1361.4 million dollars in 2021 and is projected to grow to 3757.06 million dollars by 2028, with a compound annual growth rate of 15.61% over the forecast period.

The Cloud Robotics Market globally was estimated to be worth 18920.79 million dollars in 2021 and is expected to reach a value of 111662.59 million dollars by 2028, showing a compound annual growth rate of 28.87% during the forecast period.

The Soldering Robot Market globally was estimated to be worth 182.1 million dollars in 2021 and is expected to grow to a value of 268.65 million dollars by 2028, displaying a compound annual growth rate of 5.71% over the forecast period.

The RF over Glass Market globally was estimated to be worth 1377.51 million dollars in 2021 and is expected to grow to 2530.78 million dollars by 2028, with a compound annual growth rate of 9.08% during the forecast period.

Canadian Medical Isotope Market Was Estimated At USD 2.11 Billion In 2030 And Is Expected To Increase At a CAGR of 11.5% From 2023 To 2030

The SUV market is projected to grow at a CAGR of 6.6% during the forecast period, from an estimated USD 885.8 billion in 2022 to USD 1,221.7 billion by 2027, at a CAGR of 6.6%. The growth of the SUV market.

The global exoskeleton market size is estimated to be USD 0.7 billion in 2023 and is projected to reach USD 3.7 billion by 2028, at a CAGR of 38.6% according to a new report by MarketsandMarkets™. The growing adoption of robotic rehabilitation in healthcare and rising investment in the advancement of the exoskeleton are responsible for the growth of the exoskeleton market. Additionally, the rising insurance coverage for exoskeleton technology is also responsible for the markets growth.

Device-as-a-service market report share is expected to grow from USD 50.3 billion in 2021 to USD 303.6 billion by 2026; it is expected to grow at a CAGR of 43.2% during the forecast period.

The Delivery Robots Market Report Share is estimated to be USD 212 million in 2021 and expected to reach USD 957 million by 2026, at a CAGR of 35.1% from 2021 to 2026.

The space propulsion market is projected to grow from USD 8.3 billion in 2021 to USD 22.5 billion by 2026, at a CAGR of 22.1% from 2021 to 2026.

Integrated Marine Automation System Market Dynamics, Impact of Covid-19, Ukraine-Russia War and Global Recession, Competitive Landscape and SWOT Analysis Including Key Players - Northrop Grumman, ABB, Siemens, Kongsberg Gruppen, Thales Group, Transas, Consilium, Wartsila, Tokyo Keiki, Marine Technologies, Praxis Automation, Honeywell, API Marine, MTU Friedrichshafen

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