Tag: financial crime.
Featurespace and OrboGraph unite to combat rising check fraud with advanced...
Featurespace, a global fraud and financial crime prevention firm, has entered into a strategic partnership with OrboGraph, a leading provider of check processing automation and fraud detection software and services.
Napier AI’s call for smarter CDD practices in HM Treasury’s latest...
Napier AI has responded to a consultation from HM Treasury, the UK government's economic and finance ministry, on enhancing the effectiveness of the Money Laundering, Terrorist Financing, and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs). These regulations require businesses to identify and prevent money laundering and terrorist financing.
Navigating KYC and KYB: Essential strategies for regulatory compliance in FinTech
In the realm of FinTech, understanding the nuances between Know Your Customer (KYC) and Know Your Business (KYB) is essential for businesses navigating the complexities of regulatory compliance and risk management. Both KYC and KYB processes are foundational in building trust and ensuring financial integrity within companies.
Navigating regulatory challenges amidst shifting global trends
As 2024 progresses, regulators worldwide find themselves increasingly busy, grappling with the dual challenges of an ever-changing geopolitical landscape and the rapid evolution of...
How luxury goods are exploited in money laundering schemes
Luxury goods encompass high-end items associated with prestige and significant monetary value.
How SymphonyAI empowers financial crime investigators to become more efficient
As budgets tighten, financial services firms require more efficient ways to handle their financial crime prevention. Jason Shane, Head of Strategy & Innovation at SymphonyAI’s financial services division, explains why SymphonyAI is the perfect solution to this problem.
Insights from a data scientist: Implementing AI in financial crime compliance
The financial services industry is undergoing a transformation driven by artificial intelligence (AI) technologies, particularly machine learning (ML). These advancements are significantly enhancing anti-money laundering (AML), counter-financing of terrorism (CFT), and sanctions screening as part of customer lifecycle management (CLM).
How Napier AI leads the charge in compliance-first transaction monitoring
The financial sector, including banks, payment firms, FinTechs, and wealth and asset managers, faces significant challenges in interpreting regulatory guidance and converting it into...
The intersection of KYB and AML: A guide to business identity...
Know Your Business (KYB) and Anti-Money Laundering (AML) are critical parts of the compliance ecosystem, but how aligned are they? FullCircl, a SaaS platform renowned for eliminating regulatory and verification hurdles, recently delved into the role of KYB in the AML process.
Are financial institutions struggling to keep up with modern sanction and...
The war in Ukraine has underscored how quickly sanction and PEPs lists can change. Since 2022, the US, UK, EU, Australia, Japan and Canada have imposed over 16,500 sanctions on Russia, according to the BBC. The current turbulent geopolitical scene means financial services firms need to be ready for regular, and often sudden, changes to PEPs and sanction lists. FinTech Global recently spoke to several industry players to ask whether financial institutions are keeping up with the modern sanction/PEPs landscape.
