478 Results from /crime
Frank Cummings CEO at AML Partners LLC
I Am Not a Boss or a Leader; I Am an Enabler I have been around the block far more times than I would like to count. I have been led, and I have led. And I have come to realize that neither will make you truly successful. Leading organizations large or small does not mean you are successful. It means you played the game well enough to be allowed to...
23 August 2022 /crime RegTech
Steve Wilcockson Product Marketing at Quantexa
Think carefully, someone could be watching! Busy Regulators! Regulators have been busy. Organizations such as SMBC Nikko, JP Morgan, Atlantic Trading, Natwest, and Robinhood have all recently incurred one or more significant fines, reputational damage and criminal prosecution – courtesy of the power and tenacity of regulators. A particular reg...
23 August 2022 /regulation /crime Financial Risk Management
Financial institutions globally have enhanced Customer Due Diligence/Know Your Customer procedures to the point of pure art. In some cases, institutions collect over 600 individual fields of information, and some use upwards of 14 data interfaces to support a mix of internal systems and external data providers. It’s getting to the point where we
19 August 2022 /crime RegTech
Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions
When the authorities say cash leads to tax evasion, counterfeiting, etc., the common man ("Joe") thinks it's because cash is anonymous. When they goad him to ditch cash and move to digital payments, Joe assumes that digital payment will eliminate fraud because it's not anonymous. Then, one day, Joe uses a digital payment like UPI to buy ...
11 August 2022 /payments /crime
Prabhu Ramamoorthy Global Manager Financial Services Ecosystem at NVIDIA
Physicists may say otherwise, but it is trade that makes the world go round -- at least financially. From supply chain issues to volatility in prices across asset classes, from stocks to crude oil, trade defines much of the movement in the international economy. With trillions of dollars moving daily across the financial system, the temptation to ...
03 August 2022 /regulation /crime Artificial Intelligence and Financial Services
Retired Member
Financial criminals are increasingly using insurance products to clean dirty money and commit illicit crimes. The industry might not have the obvious routes for laundering cash that banks present, but there are still many opportunities. Furthermore, insurers are seemingly an easier target because fewer counter measures are in place. This needs to ...
02 August 2022 /crime
Jason Lane-Sellers Director, Market Planning EMEA at LexisNexis Risk Solutions
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 Exposing Financial Crime
Joost Van Houten Founder & CEO at Sentinels
In March 2022, global regulatory watchdog the Financial Action Task Force (FATF) adopted amendments to Recommendation 24 (R.24) of its 40 Recommendations that govern global anti-money laundering (AML) policy. This concerns Ultimate Beneficial Ownership (UBO), i.e., the person who profits from money moving into or out of a business. These are signi...
01 August 2022 /regulation /crime Banking Regulations
The dramatic surge in card fraud during the pandemic has been well documented. More recently, market research is showing a reduction in the number of fraud cases as a result of payments organizations implementing modern fraud prevention solutions. However, while the volume of card fraud is declining, the monetary amount of fraud is not, as fraudst...
28 July 2022 /payments /crime The Payments Business
Hugo Chamberlain Chief Commercial Officer at smartKYC
When to use Enhanced Due Diligence Know Your Customer (KYC) screening can take many forms as a process and certainly as a technology solution in the ever expanding industry. At a minimum, companies have a requirement to check and verify an individual's identity by using document verification and/or biometric tools, which may suffice in terms of a ...
25 July 2022 /regulation /crime Artificial Intelligence and Financial Services
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