AML compliance Lending Knowledge & training P2P Money Laundering: How to Comply Why is P2P money laundering becoming more prevalent? Advances in fintech have allowed for the development and widespread uptake of a variety of online financial services, including peer-to-peer lending and crowdfunding, both of which have grown to represent multi-billion dollar […] 5 minute read
AML compliance Lending Knowledge & training AML Lending - Risks & Compliance As banks and non-bank financial institutions explore new, innovative methods with which to deliver financial services, digital lending has emerged as an opportunity for those organizations to loan money faster and more efficiently. Digital lending is essentially the use of […] 5 minute read
AML compliance Digital banks Knowledge & training AML compliance for digital banking As banks and other financial institutions (FIs) embrace advances in financial technology, the digital banking sector has grown dramatically. This trend shows no signs of slowing down: one survey suggests 86 percent of UK adults use some form of online […] 8 minute read
AML compliance Knowledge & training AML compliance in the remittance industry The money remittance industry is growing. In 2018, global remittances reached $689 billion: a figure that is expected to reach $746 billion in 2020. The trend is driven, in part, by digital remittance services, which are expected to see a […] 6 minute read
AML compliance Foreign exchange Knowledge & training AML risk in foreign exchange: How to comply Foreign currency exchange (FX) is a popular methodology for money launderers, who seek to exploit a range of vulnerabilities associated with the service. The growing volume of FX businesses across the banking and commercial sectors, on Main Streets and online, […] 5 minute read
PEPs Knowledge & training PEPs screening process: 7 best practices Fighting financial crimes committed by political figures starts with identifying them. It’s easy to identify a head of state or key members of a legislature, but there are many politicians in the world who don’t claim a significant spotlight. Screening […] 10 minute read
AML compliance Knowledge & training AML compliance checklist for banks (10 steps) Banks and other financial institutions (FIs) must implement an anti-money laundering (AML) compliance program to detect and prevent money laundering and terrorism financing activities and satisfy their associated regulatory obligations. Given the administrative burden and the need to manage their […] 8 minute read
Financial crime Remittance Knowledge & training Money laundering through foreign exchange providers Advances in technology have made moving funds to different parts of the world easier than ever and contributed to the growth in money remittance and foreign exchange service providers. The World Bank reports that, between 2008 and 2018, the amount […] 6 minute read
AML compliance Knowledge & training Anti-Money Laundering Act in the Philippines (5 Tips to Comply) The Philippines is one of the Asia Pacific (APAC) region’s most prominent business destinations and a global hotspot for FinTech and financial services. Ranked as one of Southeast Asia’s favored investment destinations, the Philippines attracted over USD2.44 billion of foreign […] 8 minute read
PEPs Knowledge & training PEP screening compliance around the world When elected to prominent political positions or assigned high-profile public roles, individuals should be categorized as politically exposed persons (PEPs) to reflect their increased risk of involvement in money laundering or terrorism financing. Global regulators require financial institutions (FIs) to […] 15 minute read
PEPs Knowledge & training Domestic PEP vs foreign PEP – are they equal? Domestic PEPs vs foreign PEPs: should they be treated the same? Politicians and other high-profile public officials are especially vulnerable to criminal behavior since they wield significant power and have access to a wealth of resources. Therefore, screening for politically […] 5 minute read
Sanctions Knowledge & training Regulations for sanctions on North Korea In order to pursue the United States’ foreign policy objectives, the US Treasury has imposed regulations and sanctions on North Korea in some form since 1950. The sanctions have the broad goal of pressuring North Korea to denuclearize but have […] 5 minute read
