Basel AML Index Highlights Finland in AML Transaction Monitoring Financial Crime Compliance

This press release was orginally distributed by SBWire

Reykjavik, Iceland -- (SBWIRE) -- 11/23/2022 -- The Basel AML index is an annual index ranking global FinCrime compliance efforts. While the findings of the index as a whole show that global progress on tackling financial crime is stalling, Finland has retained its place as one of the top ranked countries. According to the Index, factors such as the improvements that have been made in implementing and enforcing compliance frameworks remain overwhelmed by persistent problems such as corruption and a lack of corporate transparency in much of the world. So, the global outlook is not that positive but for Finland, the rating remains high.

In fact, Finland appears at the top of the five best countries rated by the Index in 2022, followed by Andorra, Sweden, Iceland and New Zealand. Those at the other end of the scale include Haiti and Mozambique. There is no doubt that improvements in AML Transaction Monitoring in Finland - and the Nordics more broadly - have had a part to play in the way that the country achieves consistent improvements in compliance. One of the main takeaways from the latest issue of the Index is the fact that more governments are realising that they need to be a partner to the banking sector, rather than an adversary, something that is increasingly embedded in Finland. However, there is clearly more work to do, as money laundering is a global crime that fuels other crimes. This is especially so as the criminals of the world are increasingly operating online, and at a much faster and more sophisticated pace than many governments are able to keep up with.

AML Transaction Monitoring is an integral part of the Lucinity platform, alongside other essential features such as actor intelligence and effective SAR management. The software combines the most effective elements of human intelligence and artificial intelligence to create a genuinely useful tool that could help to turn the tide in the battle against the opaqueness and corruption that have made money laundering such a global problem. Aspects of human intelligence include the ability that humans have when it comes to contextualising and interpreting. On the artificial intelligence side, it's everything, from assessing probabilities to memorising large volumes of data. This combination is incredibly powerful, especially with the experience that Lucinity has in being able to make tools like AML Transaction Monitoring truly accessible to every organisation that needs them.

Since Lucinity was first established in 2018, the business has continued to expand globally to support more organisations in the fight against financial crime. With a focus on the mission to Make Money Good, and a desire to make AML Transaction Monitoring - and other key resources - widely available, the business has been able to open a number of offices. The network now includes locations in London, Brussels, New York and Reykjavik. All this has been done in careful alignment with the well-established core values that continue to guide growth and expansion at Lucinity, including continuous learning and a focus on human empathy and respect.

About Lucinity
Lucinity is an anti-money laundering (AML) software developer on a mission to Make Money Good. Lucinity aims to solve productivity and efficiency issues for financial institutions through the company's 'Human AI' approach, a toolset that combines next-generation AI with human insights and expertise.
By leveraging AI, the AML software learns from every interaction and continues to improve indefinitely, providing fewer false positives and saving time. This is on top of its best-in-class interface and visualizations that put users first. Professionals can experience Lucinity's AML compliance solution, including transaction monitoring, through a free demo environment available on
Lucinity operates globally, with headquarters in Reykjavik, and serves customers ranging from Tier-1 banks to FinTechs.

Company Quote

Founder and CEO, Gudjmundur Kristjansson, comments, "Lucinity's unique experience in banking, compliance, regulation, and data science has helped us develop a new approach to tackling money laundering—harnessing the best of human intelligence and augmenting it with advanced AI.
Our simple-to-use systems work with analysts, not against them, complementing their skills and making them superheroes so they can take on financial crime, saving institutions time and money in the process.

We believe that by transforming AML, we can have a tremendous positive impact on society. Money laundering is a crime that fuels crime. That is why we set out on the mission of Making Money Good."

To find out more information AML Transaction Monitoring visit
Lucinity are regular attendees at Anti-Money Laundering and Fin Tech Conventions around the world. To find out about upcoming Lucinity events visit

For any media enquiries please contact Gary Elliott at Iconic Digital – 020 7100 0726.

For all other enquiries please contact Lucinity at

For more information about Lucinity services, please go to

Lucinity is an AML software company, founded in 2018, with offices in Reykjavik, New York, London and Brussels. Using advanced AI systems, we help banks discover money laundering and really know their customers, more efficiently – to stop the funding of serious crime across the world.

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