Andreas Hobbelin Head of AML & FCP at ZTL PAYMENT SOLUTION
To answer this, one most likely need to go deep on all financial institutions (FI), however, what if one would ask some simple questions to begin with? Lets start with the following; Are you screening your clients against US sanction lists? Most would answer Yes Are you screening your client’s counterparties against US sanction lists...
15 January 2021 /regulation /crime Trends in Financial Services
Adam Holden Chief Executive Officer at NorthRow
If we thought 2019 ‘was quite a year’ and that 2020 would bring some challenges, then how on earth do we begin to verbalise the last 9 months? Despite epidemiologists warning of a once-in-a-lifetime pandemic, the most advanced nations in the world were ill-prepared for the scale of the fall-out. The effects of which are still being felt, and will ...
12 January 2021 /regulation /crime Big Data
Alistair Catto Managing Director at Beyond
Recent analysis conducted by LexisNexis highlighted that many financial institutions are struggling to complete their implementation plans for the Fifth Anti-Money Laundering Directive (5AMLD). Even more troubling was that many of those surveyed were not even aware of its key purpose. So what activities should banks be focusing on to ensure their ...
11 January 2021 /regulation /crime Banking Regulations
Luke Hinchliffe Head of Marketing at Arachnys Information Services
The onboarding process for opening corporate accounts at banks is littered with friction points. But it’s not just the customers who are suffering, it’s also the banks themselves. It is evident just how difficult the onboarding process is for banks: 90-120 days to onboard corporate banking customers (Oliver Wyman) 307 employees to work on KYC adhe...
08 January 2021 /regulation /crime
Yinglian Xie CEO at Datavisor
Someone who knows all about this is Yinglain Xie, CEO of Datavisor, fraud detection company with solutions powered by AI technology. Having previously worked at Microsoft, Yinglain has over 10 years of experience in security, specialising in fighting large-scale attacks with AI and Big Data technologies. Here she shares her views on digital paymen...
05 January 2021 /security /crime Artificial Intelligence and Financial Services
Jane Zimmerman Principal Solution Marketer at Oracle
Money Laundering in the World of Fine Art Criminals remain relentless in their quest to stay one step ahead of the law. The connection between money laundering and the rarified world of fine art is a perfect example of their nefarious creativity. While no one knows how much money is laundered through art, art and collectible wealth held by ultra-hi...
17 December 2020 /regulation /crime Innovation in Financial Services
Matt Neill Managing Director at Beyond
The continued pressure to increase efficiencies within KYC and reduce the cost of compliance has resulted in ‘KYC automation’ becoming a hot topic for the industry. Clients often ask us what their priorities should be, who can help them with the process and what the best practices are for implementation. Here are the 7 key principles I normally sh...
14 December 2020 /regulation /crime Financial Risk Management
Jason Johnson Co-Founder and Penetration Tester at Predatech
The unprecedented events of 2020 have had a significant impact on the way cyber criminals have developed and administered attacks. Not only are we seeing the emergence of Ransomware 2.0, we're also seeing a continued explosion in invoice and payment-based business email compromise (BEC) fraud. A BEC attack, also known as man-in-the-email, involves...
14 December 2020 /crime /predictions Information Security
Retired Member
In my last blog, I shared some thoughts on how different forms of AI could help transform financial services, along with some challenges that needed to be overcome to ensure successful enterprise wide adoption. As promised, this blog will focus on how AI can help improve the customer experience in banking; both directly, and more so indirectly be...
10 December 2020 /retail /crime Artificial Intelligence and Financial Services
The United States has stepped up its anti-money-laundering practices after taking some heat. In the Financial Action Task Force's 2016 mutual evaluation, the group found: Lack of timely access to adequate, accurate and current beneficial ownership (BO) information remained one of the fundamental gaps in the US. [1] As a result, the United States re...
09 December 2020 /regulation /crime Financial Services Regulation
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