To understand the money laundering and terrorist financing risks financial institutions face, firms must verify their customers’ identities and the account relationship’s intended purpose. Compliance officers the world over know this as the customer due diligence (CDD) process. As a […]
Customer onboarding is any financial institution’s (FI’s) first line of defense when tackling financial crime. Before providing access to their services, firms are legally obliged to vet new clients for risks relating to money laundering, terrorist financing, and sanctions evasion. […]
Backed by investors such as Y Combinator and Kaszek, DolarApp was created to help solve the problem Latin American citizens face when trying to access banking in US dollars.
Customer onboarding is where the rubber hits the road for compliance teams. Where the theory of anti-money laundering and counter-terrorist financing meets the commercial reality of the business. In this 5-part explainer, we’ll outline the kinds of issues you’ll face, how to manage them and how to effectively manage your own role in this critical process.
The first Financial Action Task Force (FATF) plenary under the two-year Singapore Presidency of T. Raja Kumar took place in Paris on October 20-21, 2022. Discussions centered around: Additions to the blacklist Changes to the grey list Further restrictions placed […]
The conference featured a packed agenda of sessions designed to help compliance leaders uncover the latest developments from the world of financial crime and money laundering.
PingPong needed a solid solution to streamline its due diligence checks to meet its compliance obligations across many different jurisdictions and build trust with its new and expanding customer base.
Efficient and accurate data analysis is vital for effective AML/CFT programs – yet AML teams using legacy transaction monitoring programs frequently deal with backlogged systems. Their analysts often experience burnout from processing high volumes of alerts with too many false […]
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← Back to Part Two Part Three: Action It’s time to make your decision. What crime(s) are Mr. Y and his associates committing? Can you prove it? Watch the final video below, then proceed to complete your report card. […]
← Back to Part One Part 2: Suspicion Knowledge is power… or so the saying goes. But how do you know what information helps you, and what is simply a distraction? Watch the video below, then proceed to open your […]
AML Challenge: The Curious Case of Mr. Y As a compliance officer operating in a highly complex financial crime environment, sometimes what ‘suspicious’ looks like isn’t always obvious. In this challenge, you’ll be presented with a set of information about […]
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