Combating Financial Crime

How we provide ethical and compliant functionality to our customers.

Here at OneBanx we are committed to providing ethical and compliant community banking functionality to our customers and partners.

Every day, criminals are finding new and innovative ways to launder funds and defraud customers, using the financial system to conceal profits gained through illegal activity.

According to the LexisNexis® Risk Solutions 2022 True Cost of Financial Crime Compliance Study - Global Summary, the projected total cost of financial crime compliance across financial institutions worldwide is $274.1 billion.

This crime occurs when criminals attempt to mask their true identity and conceal the origins of illegal profits through layers of complex financial transactions.

We are resolute in our efforts to combat financial crime and constantly evolve our approach to stay one step ahead:


We have dedicated qualified specialists who:

  • Set robust policies and procedures to support the rest of the Group in their day to day activities.
  • Provide ongoing training to all, ensuring knowledge and skills remain up to date.
  • Act as SME providing real-time support and guidance when needed.
  • Monitor activity, both internally to the organisation and externally to understand new trends and methods of facilitating financial crime.

Knowing our customers

As well as good business practice, knowing our customers is a legal requirement in regulated industries:

  • We will take time to verify identity as this helps prevent theft, money laundering, financial fraud, terrorism financing, and other financial crimes.
  • We will monitor transactions to be on the lookout for anything unusual and out of the ordinary.
  • We will continuously check to ensure we are not providing our services to anyone sanctioned or on government watchlists.


We work very closely both with our internal development team and with external third party providers:

  • We constantly review our product roadmap to ensure we are always improving our effectiveness of combating financial crime.
  • We are continuously reviewing the relationships we have with third party suppliers and what additional functionality this gives us in fighting financial crime.
  • We work with law enforcement agencies and, where appropriate, share information to support with gathering intelligence on criminal activity and networks.
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