AML compliance Insurance Knowledge & training Growth vs compliance: A false choice? As insurtechs grapple with managing their rapid expansion, one important question relates to their financial crime compliance obligations. This can be challenging for insurtechs as they consider their growth agenda – What should be prioritized? How will regulations change? What… 5 minute read
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… 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
