Exposing Financial Crime

Criminals are smart, and detection capabilities need to be smarter and always adapting to stay one step ahead. Time to drive out pointless investigations and finding true malignancies hidden from existing rules and machine learning techniques. Join us for conversations and articles on how to refocus financial crimes investigations into actually stopping crime.

Steve Morgan Banking Industry Market Lead at Pegasystems

Fighting financial crime in 2022

A big topic for this Sibos (and most past ones too) is how to stamp out financial crime without disrupting or degrading high quality service experiences for the vast majority of honest (and very important and valuable) customers. As it stands, financial crime is skyrocketing with banks facing more and more challenges to manage risks effectively. A...

06 October 2022 /sibos /crime

Jason Grasso Customer Risk Business Unit Leader at Pega

Event Driven Know Your Customer Reviews….Yes it is Inevitable

In talking with clients about their strategy around perpetual or event based know your customer (“KYC”) risk approaches there are two different groups: firms that have started implementing an event based KYC approach and those that have not but understand that they will need to in the future. Change and transformation is hard. Firms need to s...

20 September 2022 /regulation /crime

Gian Mahil Director at The FinTechGuys

Scammers love unattended lockers!

Like a lot of other people, I love going to the gym and having a swim and sauna afterward. Going to the gym helps me to relax for a while away from the day-to-day grind. After the gym, I may go to the shops or grab a coffee. Just like millions of others every day. This means I need to have my phone and card(s) with me. However, as reported by the...

08 September 2022 /retail /crime

Jeremy Annis CEO at Ripjar

How can businesses handle the EU’s new cryptocurrency regulations?

To safeguard consumers, investors, and the market itself, the EU has for the first time put forward laws for bitcoin service providers. These measures will also promote fair competition and financial stability. The EU aims to ensure compliance among all member states by putting in place a legal framework. The goal of the new legislation is also to...

05 September 2022 /regulation /crime

Jason Lane-Sellers Director, Market Planning EMEA at LexisNexis Risk Solutions

The Truth About Digital Trust in Banking

The banking sector was named the most trusted overall by UK consumers in a recent study into digital trust by LexisNexis Risk Solutions. Banks got the highest share of votes (86%) from consumers when asked which sectors they most trust overall, and nearly two-thirds of UK adults (60%) said they trust banks most to keep their personal details safe ...

01 August 2022 /security /crime

Ivan Zhiznevskiy Founder & CEO at 3S Money

Fintechs and Banks: friends, not foes, when fighting financial crime

Up to $2 trillion is laundered every year according to the United Nations. Shockingly, they also estimate that banks help catch less than 1% of this crime. And, sadly, the UK ranks second in the money laundering hall of shame. On occasion, the finger of blame is pointed at Fintechs, with some being branded as an open door for dirty money. But,...

05 July 2022 /crime

Rodrigo Zepeda CEO at Storm-7 Consulting Limited

The Model Mandatory Disclosure Rules (‘AEOI PHASE 3’) Briefing Series: PART IV

By Rodrigo Zepeda, CEO, Storm-7 Consulting GLOBAL AND NATIONAL ESTIMATES OF TAX EVASION The most recent estimates of the cost of global tax evasion to governments around the world is nearly $500 billion (£408 billion) – around $312 billion (£254.68 billion) is lost because of tax abuse by multinational corporations, and around $171 billion (£139.5...

24 June 2022 /regulation /crime

Rodrigo Zepeda CEO at Storm-7 Consulting Limited

The Model Mandatory Disclosure Rules (‘AEOI PHASE 3’) Briefing Series: PART III

By Rodrigo Zepeda, CEO, Storm-7 Consulting INTRODUCTION The pro forma template ‘Model Mandatory Disclosure Rules for CRS Avoidance Arrangements and Opaque Offshore Structures’ (MMD Rules) were published by the Organisation for Economic Co-operation and Development (OECD) on 9 March 2018. In practice, it may be difficult for firms around the world...

23 June 2022 /regulation /crime

Rodrigo Zepeda CEO at Storm-7 Consulting Limited

The Model Mandatory Disclosure Rules (‘AEOI PHASE 3’) Briefing Series: PART II

By Rodrigo Zepeda, CEO, Storm-7 Consulting INTRODUCTION The ‘Model Mandatory Disclosure Rules for CRS Avoidance Arrangements and Opaque Offshore Structures’ (MMD Rules) were published by the Organisation for Economic Co-operation and Development (OECD) on 9 March 2018. Firms should note that the international legal framework supporting the implem...

22 June 2022 /regulation /crime

Rodrigo Zepeda CEO at Storm-7 Consulting Limited

The Model Mandatory Disclosure Rules (‘AEOI PHASE 3’) Briefing Series: PART I

By Rodrigo Zepeda, CEO, Storm-7 Consulting This multi-part series of blogs will introduce readers to what have been generally referred to as the ‘Model Mandatory Disclosure Rules’ (MMD Rules). Their full title is the ‘Model Mandatory Disclosure Rules for CRS Avoidance Arrangements and Opaque Offshore Structures’. This Briefing Series will provid...

21 June 2022 /regulation /crime