The Know Your Customer (KYC) and Know Your Business (KYB) processes are common regulatory requirements for financial institutions (FIs) that require them to establish who their customers are and understand what kind of financial activity they are involved in. Both […]
Launching AI-driven Fraud Detection
eKYC (electronic Know Your Customer) is the automated process through which companies can perform customer identity verification digitally. eKYC is an alternative to the traditional process that required physical documents. Onboarding rules and regulations for businesses have evolved significantly in […]
The State of Compliance webinar series brings together industry experts from across the compliance sector for a hands-on look at key themes and major issues.
Singapore is often rated as the top location outside of Silicon Valley for technology innovation and disruption. As a result, it has become a thriving hub for FinTechs. This guide explores how firms operating in Singapore can comply with the city-state’s AML/CFT regulations.
A customer risk assessment is a necessity when onboarding new customers. It ensures that high-risk individuals are identified, and appropriate anti-money laundering (AML) measures are put in place. But what elements should firms consider as part of an AML customer […]
Banks need a new approach to detecting financial crime. This hands-on guide explores how AI can be deployed in transaction monitoring systems today, improving alert remediation and helping compliance teams better identify networks of illicit activity.
Despite the war in Ukraine and the ongoing pandemic, the EU has other pressing policy issues on its collective mind in 2022, of which AML/CFT reform is amongst the most important.
As FinTechs grow and acquire more customers, their AML/CTF programs must also mature. The firms best set up for success are those with scalable solutions and a sound understanding of AUSTRAC’s expectations of the firms it regulates. This guide provides hands-on tips and best practices for any FinTech looking to scale in Australia.
Enhanced due diligence (EDD) involves determining, based on a risk-based approach, to investigate particular clients more thoroughly – requiring significantly more evidence and detailed information about reputation and history to be collected. EDD is especially relevant for high-risk or high-net-worth […]
Transaction screening is a critical extension of an effective transaction monitoring program. Sanctions breaches constitute serious offenses and can result in heavy penalty fines. Accordingly, banks and financial institutions must check customers against relevant sanctions lists as efficiently and accurately […]
Despite recent volatility in the cryptocurrency market, 420 million people globally still access their services. As a result, governments worldwide are exploring how to regulate and integrate crypto exchanges into the financial system. This is creating new customer verification and […]
In order to meet the demands of AML/CFT regulations, banks must implement suitable Know Your Customer (KYC) measures in order to understand who their customers are, and the nature of the business in which they are involved. With that requirement […]