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 […]
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 […]
If you’ve found this guide, there’s a good chance you’re looking for a payment screening solution that: Accurately detects risks and explains why alerts were generated. Integrates across your compliance tech stack. Provides up-to-date sanctions and politically exposed person (PEP) […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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, […]
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 […]
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