Day: July 17, 2024

Written by FinCrime

China tycoon Guo convicted in US over $1bn scam

Reported by João da Silva Self-exiled Chinese businessman Guo Wengui has been convicted by a US court of defrauding his online followers in a billion-dollar scam. He was found guilty on nine of the 12 criminal counts he faced, including racketeering, fraud and money laundering. Guo’s sentencing has been scheduled for 19 November, when he […]

Written by FinCrime

How Perpetual KYC Transforms Risk Management

Reported by KYC Portal CLM  Why Traditional KYC Reviews Are No Longer Sufficient Manual periodic KYC reviews have long been the industry standard. However, these periodic reviews often lag, exposing organisations to undetected risks. The gaps between reviews allow for significant changes in a customer’s risk profile to go unnoticed. Consequently, companies face increased operational risks, […]