Reported by Geoff White Cutting edge technology is fast becoming the handmaiden of organised crime, helping some of the world’s most dangerous crooks to move and hide ill-gotten gains. This situation will only get worse, unless governments and the technology industry can find common ground. As financial digitisation has accelerated, the first stage of the […]
Reported by BEN WIEDER and DEVON MILLEY The eight story Courthouse Place office building in downtown Fort Lauderdale is a couple blocks from the Broward County courthouse, which makes it an attractive home for the dozens of lawyers and legal services companies that rent space in the building. It even houses a few offices for prosecutors […]
Reported by FinTech Global According to Moody’s, a fundamental theme underpins know your customer (KYC) risk screening: names. A person’s name is their key identifier and in screening processes names are of course vital, but names are very rarely unique – unlike the people who claim them. Names can be complicated. Name matching is especially difficult […]
Reported by Camilla Hodgson and Yasemin Craggs Mersinoglu An ex-employee has alleged that Amazon breached UK sanctions by providing Moscow with its facial recognition technology after Russia’s full-scale invasion of Ukraine. The allegation forms part of evidence presented by Charles Forrest in a claim he brought against his former employer, Amazon Web Services, which the company is […]
Ever since its launch in November 2022, Generative AI has been the topic of discussion on everyone’s lips when it comes to discussing transformational technology. In the area of KYC, could we expect Generative AI to have significant long term impacts? Reported by FinTech Global In the view of Ted Datta, senior director, head of […]
Reported by South China Morning Post / Bloomberg Vietnamese police seek to prosecute real estate tycoon Truong My Lan for alleged money laundering nearly two months after she was sentenced to death in a US$12 billion fraud case, Tuoi Tre newspaper reported. Police say Lan, along with 33 others, should be prosecuted for alleged asset embezzlement, money […]
Reported by Rachael Kennedy In 2023 alone, global fraud incurred a staggering cost of $485 billion, as reported by the Nasdaq-Verafin Global Financial Crime Report. This growing challenge is becoming increasingly acute for market participants, particularly with the advent of real-time payments, and can incur significant reputational damage in addition to financial cost. Fraudsters are constantly […]
Reported by Mikhail Karataev Immigration policy is perhaps the most obvious and at the same time controversial issue on the American business agenda. On the one hand, immigrants have played a decisive role in shaping the modern face of the United States, making significant contributions to the economy, culture and society. On the other hand, […]
Reported by FinTech Global Fenergo, the leading provider of digital solutions for KYC, CLM and transaction monitoring, has launched AI Powered CLM. This new set of AI capabilities aims to boost operational efficiencies, accelerate onboarding, and improve end-user experiences while reducing costs associated with KYC and AML compliance. The introduction of AI to Fenergo’s CLM […]
Reported by Jacqueline Alemany Members of Congress hear a lot of secrets: classified briefings, confidential previews of pending legislation and the private opinions of constituents, regulators, corporate executives and world leaders. Watchdog groups have long believed that some lawmakers use that information to make money in the stock market. Now a loose alliance of traders, […]
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