27 May 2025
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The Cygnus Compliance team is looking forward to attending the ACAMS South Florida Spring Anti-Financial Crime Forum this week on May 21st! This premier event brings together compliance leaders, investigators, regulators, and innovators committed to fighting financial crime across industries.
9 April 2025
Financial institutions spend millions of hours annually on compliance alerts that lead nowhere, with false positive rates in some institutions surpassing 90%. Kevin Lee of Cygnus Compliance Consulting examines how AI and related technologies are poised to transform this inefficient landscape through supervised machine learning, automated narrations and more intelligent handling of unstructured data.
18 February 2025
The Federal Reserve Banks have rescheduled the Fedwire® Funds Service's ISO® 20022 implementation from March 10, 2025 to July 14, 2025. This single-day migration will replace the current proprietary message format with ISO 20022 messages. Financial institutions are encouraged to utilize the resources available in the ISO 20022 Implementation Center to prepare for this transition.
9 September 2024
1 January 2024
A leading study estimates that $61B per year is spent on compliance in the U.S. and Canada alone, with 70% of financial institutions prioritizing the reduction of costs in 2025. In an industry where 90-99% of alerts are false positives and operational inefficiency is accepted as a necessary evil, the use case for the modernization of compliance operations is clear and imminent.
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