Sanctions Knowledge & training Automated sanctions screening: A guide for compliance professionals Automated sanctions screening is a crucial process used by financial institutions (FIs) and organizations to identify individuals, entities, and transactions that may be subject to economic sanctions or restrictions imposed by governments or international bodies. It involves the use of… 4 minute read
Payments Knowledge & training What is FedNow? A guide for compliance officers Since 2017, many US financial institutions (FIs) have relied on the Automated Clearing House (ACH) or The Clearing House (TCH) Real-Time Payment Network rails for their payment transactions. However, given that TCH is privately held by some of the world’s… 6 minute read
Financial crime Knowledge & training What is fraud prevention, and why is it important? Firms typically focus on improving their fraud prevention and detection measures to mitigate risk and reduce financial losses. But what is fraud prevention, and how does it differ from fraud detection? Are the two functions completely separate? Most importantly, what… 9 minute read
Fraud Knowledge & training Fraud risk management guide: Identify, assess & mitigate risks Due to economic pressures, businesses have undergone both external and internal changes that can make them susceptible to exploitation. The numbers are evidence of this, as the total amount of global e-commerce fraud losses for 2022 reached a staggering $41… 5 minute read
Fraud Knowledge & training Fraud detection: 12 common red flags Over 50 percent of companies disclosed they were victims of fraud between 2020 and 2022, according to PwC’s Global Economic Crime and Fraud Survey 2022. This is the highest percentage of fraud seen in the last two decades of research… 6 minute read
Fraud Knowledge & training What is fraud detection, and why is it important? During seasons of economic volatility, businesses have historically faced numerous enhanced risks to their operations, such as supply chain disruption, staff retention, and cyber threats. In 2023, this has led to an increase in fraudulent activities as fraudsters use advanced… 7 minute read
PEPs Knowledge & training French AML legislative changes: Updates to the Law on Transparency and its impact on PEP definitions On March 17, 2023, the French Ministry of Economy introduced changes to the definition of politically exposed persons (PEPs) and, consequently, has expanded the scope of AML regulations. Although these modifications appear substantial, the adjustments made by the French government… 3 minute read
PEPs Knowledge & training PEP data quality: ComplyAdvantage’s 12-eye review process explained Accurate and reliable information is the bedrock of effective politically exposed person (PEP) risk management, as misidentifications or omissions can have severe legal and reputational consequences. In this article, Madalina Morar, International Affairs Research Analyst at ComplyAdvantage, explains the company’s… 4 minute read
PEPs Knowledge & training The lifecycle of a PEP: From identification to removal Both industry regulators and the Financial Action Task Force (FATF) consider politically exposed persons (PEPs) to pose a higher risk of corruption and involvement in money laundering and/or terrorist financing. To effectively mitigate the potential risks posed by such activities,… 5 minute read
PEPs Knowledge & training How ComplyAdvantage defines and classifies a PEP The accuracy and reliability of data used in politically exposed person (PEP) screening are paramount to its effectiveness. High-quality data ensures relevant PEP profiles are identified accurately, minimizing false positives and negatives. It involves collecting comprehensive and up-to-date information from… 5 minute read
Fraud Knowledge & training What is authorized push payment (APP) fraud? According to payment systems company ACI Worldwide, 20 percent of global consumers surveyed in 2022 reported losing money to fraudsters within the past four years. Of those surveyed, 27 percent reported being victims of authorized push payment (APP) scams. In… 6 minute read
KYC/KYB Knowledge & training KYB vs KYC: What is the difference? The know your customer (KYC) and know your business (KYB) processes are common regulatory requirements for financial institutions (FIs) that require them to establish who their customers are and understand what kind of financial activity they are involved in. Both… 7 minute read
