All posts tagged "Financial crime"
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1.1KAML / KYCUsing Privacy Preserving Analysis to Tackle Financial Crime
Privacy enhancing technologies, or PETs, may provide a "similar or, even, identical utility" compared to analysis of the raw data in some use-cases, says an FFIS paper.
July 7, 2020 -
1.6KAML / KYCAPAC Banks Will Come Out Stronger Post Pandemic
Covid-19 has kickstarted a rush to digitisation. Changes not expected for another 5-10 years will now be seen over the next 18 months, says Fenergo's Greg Watson.
June 23, 2020 -
416AML / KYCUK FCA Fines Commerzbank $47m for 5 Years of AML Failures
Commerzbank's London Branch failed to conduct periodic due diligence on clients, address transaction monitoring weaknesses, and to have adequate CDD policies and procedures in place.
June 19, 2020 -
1.2KAML / KYCGreen Crime: A Global Challenge Requiring a Global Response
A coherent global response and unifying standards are needed to tackle illegal wildlife trade and environmental crime. Financial institutions have a crucial role to play.
June 17, 2020 -
611AML / KYCAUSTRAC Ups Ante in Westpac Money Laundering Case
AUSTRAC has requested information from Westpac on additional child exploitation cases the bank detected in its lookback, potentially to use in penalty negotiations.
June 14, 2020 -
355AML / KYCEuropol Establishes New Financial and Economic Crime Unit
The new unit will seek to support cooperation among EU law enforcement authorities, step up financial investigations, and cut off organised crime groups from their funding.
June 8, 2020 -
1.5KAML / KYC‘Global Coalition to Fight Financial Crime’ Formally Launches
The GCFCC's members include the Atlantic Council, Crime Stoppers International, EBF, Europol, FFIS, Freedom Seal, GFI, IIF, MENA FCCG, Rani’s Voice, Refinitiv, RUSI, and World Economic Forum.
June 8, 2020 -
1.4KAML / KYCAddressing Heightened KYC Risk with Data and Automation
Managing KYC risk assessment in a sea of increasingly complex data sets calls for smart automated solutions to manage alerts.
June 7, 2020 -
896AML / KYC
Westpac Concludes Internal Probe into AML/CTF Failures
Westpac said its IFTI non-reporting was due to a mix of technology and human errors dating back to 2009. Governance failures and unclear compliance accountabilities were also identified.
June 5, 2020 -
1.1KAML / KYCData, Technology Provide Remedy for Covid-related Financial Crime
In a recent Bureau van Dijk webinar, industry experts examined how data, technology and AI can help mitigate the risk of criminals benefitting from the Covid-19 cash pump.
June 1, 2020
