Reported by MIKE HAGER Public registries created by Ottawa, British Columbia and Quebec to allow people to find a corporation’s hidden owners have made it more difficult for criminals to funnel their ill-gotten gains into shell companies, an expert has told an international conference. But other provinces and territories, such as Ontario and Alberta, have […]
Reported by Chanyaporn Chanjaroen and Joyce Koh Citigroup Inc., DBS Group Holdings Ltd. and other banks caught up in Singapore’s biggest money-laundering scandal are ramping up scrutiny of their wealthy customers and potential clients to avoid exposure to illicit flows, according to people familiar with the matter. Private bankers at several institutions are also receiving additional training to […]
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 […]
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 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 Romain Dillet After the Wirecard scandal, Germany’s financial regulator BaFin started to look more closely at young fintech startups that wanted to grow at a rapid pace — it’s better to be safe than sorry. In particular, N26, a Berlin-based banking startup that raised hundreds of millions of euros and quickly became a unicorn, has had a […]
Reported by NL # Times Dutch entrepreneurs active in Nigeria say that Rabobank is “bullying” and “terrorizing” them with its anti-money laundering policy. The bank floods them with forms, questions, and demands and freezes their accounts at the drop of a hat, four entrepreneurs told the Financieele Dagblad. Rob Deckers’ company sold and shipped trucks to […]
Financial Crime News Briefs 