Category: Anti Money Laundering
Verifying Identities to Stop Synthetic Identity Theft
As technology advances, so do fraud techniques. Online platforms are changing the ways criminals perform their nefarious activities. These customer-not-present environmen...
Read more
How Financial Institutions Should Handle a Politically Exposed Person
The Financial Action Task Force (FATF) defines a politically exposed person (PEP) as someone who has been be abused. There have been many examples of PEPs being associate...
Read more
Technology and Current AML Trends
Technology is going to play a significant role in simplifying the anti-money laundering (AML) process. Money laundering around the world makes up about 5% of the global G...
Read more
Breaking Down Cross-Border Payment Services
Bank operated cross-border payment are more complex than most people realize. For a bank to perform a cross-border transaction, they have to follow a variety of steps. Fi...
Read more
Noncompliance with AML and GDPR could Ruin Small Banks
Noncompliance is an important topic for banks around the world. If a bank fails to meet compliance standards for certain directives they risk having to deal with severe f...
Read more
How to regulate cryptocurrency exchanges efficiently in a secured way?
When Bitcoin was released to the world in 2009, it was a part of a noble cause. Bitcoin offered people a secure way to perform digital, financial transactions on the web ...
Read more
Automation will Assist with KYC & AML for Financial Institutions
Money laundering around the world makes up about 5% of the global GDP, amounting to around 2 trillion USD. The amount of money being transferred in these transactions has...
Read more
Fraud Detection and Prevention for Small Businesses
Small businesses that have reported occupational fraud have suffered an average loss of $150,000. While business owners must remain vigilant, they also need to review the...
Read more
Why AML & KYC is crucial for Bitcoin & other cryptocurrency transactions
Anti-Money-Laundering (AML) and Know-Your-Customer (KYC) regulations are financial security protocols in place to prevent fraudulent activity. As money is a limited resou...
Read more