Fraud Knowledge & training How to detect real estate fraud: All you need to know Multiple types of fraud have a nexus with the real estate sector, but most involve a combination of impersonation and the use of false information. With economic volatility and geopolitical uncertainty fuelling a rise in financial crime, real estate fraud […] 6 minute read
AML compliance Knowledge & training CDD best practices for the US real estate sector The US real estate sector is one of the largest in the world, with an estimated value of $113.6 trillion in 2023. As such, its unsurprising that US authorities have expressed concerns about the role of illicit finance in high-end […] 5 minute read
Fraud Knowledge & training What is real estate investment trust (REIT) fraud? Investment fraud has become the most expensive form of fraud in the US, according to a report by law office Carlson Law. The report states that a staggering $3.82 billion was stolen in 2022 – a significant increase from the […] 5 minute read
Fraud Knowledge & training What is business email compromise (BEC) fraud? Business email compromise (BEC) scams are one of the top four major cybercrime threats to US networks, targeting a range of entities from small local businesses to large corporations, and personal transactions. Security vendor Abnormal Security’s H1 2023 threat analysis […] 6 minute read
Fraud Knowledge & training What is title fraud and how to prevent it Real estate fraud can take on a variety of forms, targeting different parts of the property buying or rental process. Title fraud is considered relatively rare compared to other property scams – such as mortgage fraud or business email compromise […] 5 minute read
Fraud Knowledge & training What is mortgage fraud and how to detect it Real estate is a highly lucrative target for fraudsters, with numerous transactions occurring worldwide on a daily basis. In 2022, US victims of real estate fraud suffered losses of almost $400 million, according to data from the FBI’s Internet Crime […] 7 minute read
AML compliance Knowledge & training AML compliance for credit unions: A comprehensive guide Credit unions’ operations put them in a similar financial crime risk category as banks. It is therefore of utmost importance that these firms fully understand their risks and associated obligations for anti-money laundering and counter-terrorist financing (AML/CFT) under federal law. […] 10 minute read
Regulation Knowledge & training What is the Corporate Transparency Act (CTA)? In the past, businesses created in the United States were not obliged to publicly disclose or maintain a record of the names of their shareholders or ultimate beneficial owners (UBOs). This lack of transparency meant it was possible for anonymous […] 8 minute read
KYB Knowledge & training 3 ways to increase SMB onboarding efficiency with KYB 76 percent of firms say complicated and lengthy processes lead them to give up onboarding a financial service or product. This infographic explores three ways firms can improve their KYB processes to deliver a better customer experience and reduce onboarding times. 1 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
AML compliance Broker-dealers Knowledge & training CDD best practices for broker-dealers Between 2016 and 2022, broker-dealers suffered significant penalties – some in the millions – for customer due diligence failures. These fines have made it clear that firms dealing in securities are not exempt from global anti-money laundering (AML) regulators’ scrutiny. […] 4 minute read
AML compliance Broker-dealers Knowledge & training AML governance best practices for broker-dealers Even the most advanced anti-money laundering and countering of terrorist financing (AML/CFT) technology depends on a well-conceived underlying governance structure to serve its intended purpose. Indeed, U.S. regulators expect firms to designate specific individuals solely responsible for AML/CFT functions – […] 6 minute read
