Themis Newsletter - March

Welcome to the Themis Newsletter - March Edition: Catch up on the latest financial crime news and our work at Themis this month.

Themis proudly introduces its new Intelligence module, which empowers users to combat criminal exploitation with market-leading investigative capabilities. The module offers comprehensive solutions to detect and mitigate financial crime risks, all seamlessly integrated into Themis' anti-financial crime platform, allowing users to both conduct their own investigations or request specialist intelligence support from Themis in the form of deep dive Enhanced Due Diligence reports, supply chain analysis, ESG risk reports, as well as sectoral or country risk reports.?

In 2024 thus far, Themis has experienced an award frenzy! We are honoured to have been awarded "Best Global AI-Powered Financial Crime Risk Management Platform" award at the 2023 Business Concept CSR Excellence Awards. ?In addition to this recognition, Themis has been shortlisted for multiple categories at the UK Fintech Awards 2024, further affirming our leadership in the fight against financial crime and our commitment to innovation and sustainability as a B-Corp organisation. Moreover, Themis has been recognised as one of the Top RegTech Solutions Companies in the UK for 2024 with a corresponding article on our CEO Dickon Johnstone, celebrating Themis’ holistic approach to combating financial crime, striving to mitigate its global impact on individuals, businesses, the environment, and society at large.?

Themis recently gathered industry leaders in the UAE to discuss corruption risk in global real estate. Themis's Head of Investigations, Henry Williams, gave insights into concealing illicit wealth in property portfolios, fostering vital dialogue on financial crime. The event underscored the importance of collaboration between business and government to tackle the threat of corruption proceeds in the property market.?Themis prides itself on facilitating these conversations, and another roundtable event, this time in London, is in April.?

Top Financial Crime News Stories

The first Global Fraud Summit hosted in London brought together world leaders to combat fraud through international cooperation. Hosted by the UK Home Secretary, ministers from the G7, Five Eyes, Singapore, and South Korea attended with the aim of strengthening partnerships with the private sector, enhancing law enforcement responses, and agreeing on new actions to dismantle global fraud networks. With fraud posing significant threats to economies and societies worldwide, this summit underscores the necessity for a united global effort.?

In a recent raid near Manila in the Philippines, police rescued hundreds of people from a scam centre posing as an online gambling firm. This incident sheds light on the rampant issue of scam centres in Southeast Asia, where victims, often young and tech-savvy, are coerced by human trafficking networks into various criminal activities, including love scams and cryptocurrency fraud. The case underscores the need for international collaboration to combat financial crime and human trafficking prevalent in the region.?

In 2023, the Central Bank of the UAE intensified scrutiny of financial institutions, imposing fines totalling Dh113.675 million (￡24.6 million) for non-compliance with anti-money laundering and terrorism financing regulations. These efforts, among others, led to the UAE’s removal from the FATF’s grey list in February 2024, reflecting the collaborative efforts of various committees and entities, resulting in increased trust in the UAE financial system, facilitating smoother transactions and increasing trade and investment.?

If you would like to discuss any of our research findings in more depth please do not hesitate to reach out to us at [email protected].