Executive Summary We live in an age of crises; ensuring business continuity is no longer a ‘nice to have’ for any firm. It is essential. Financial Institutions in particular are always highly sensitive to the economic disruptions brought by crisis. […]
There has been an expectation that with a cashless society imposed by the global pandemic, the financial crime rate would fall. There was a general belief that at least crime may falter on the physical front as criminals shifted to […]
Data is made up of qualitative and quantitative information updated every second of every day worldwide. But as data streams increase in size and complexity, the speed at which financial institutions utilize these insights, and the need to ensure that […]
PEPs and Life Insurance Policies: Things You Should Be Aware Of A politically exposed person (PEP) is an individual with a high profile political role, or who has been entrusted with a prominent public function. They present a higher risk […]
Politically exposed person (PEP) screening is crucial to anti-money laundering and combatting the financing of terrorism (AML/CFT) programs worldwide. It helps identify individuals vulnerable to money laundering activities and protect financial systems and their institutions. However, once an individual steps […]
Adverse media aka negative news is no longer an issue that can be ignored by financial institutions (FIs). Using adverse media screening with AI has a powerful impact for any FI. It has the capacity to shield them from facilitating […]
Following the succession of five previous anti-money laundering directives (AMLDs), the 6th Money Laundering Directive reinforces the foundations of the European Union’s anti-money laundering and combatting the financing of terrorism (AML/CFT) framework. The first AMLD came into force in 1991 […]
What is the ACPR? The Autorité de Contrôle Prudentiel et de Résolution (ACPR) is the independent administrative authority in charge of supervising banks and insurance companies in France. Under the authority of the Banque de France, the ACPR is responsible […]
Guide to money laundering in Dubai, and the importance of Dubai Financial Services Authority (DFSA) One of the most important financial hubs in the United Arab Emirates and the Middle East, Dubai hosts a range of international business interests in […]
What is a Geographic Targeting Order? Geographic targeting orders (GTOs) are a tool used by the Financial Crimes Enforcement Network (FinCEN) to detect and prevent money laundering. GTOs impose AML requirements on obligated firms, in addition to standard Bank Secrecy […]
Remote working presents unique problems for due diligence in general and client onboarding in particular. Firms will need to address and codify new guidelines so as to ensure consistency and effectiveness of any temporary internal know your customer (KYC) processes. […]
Although prepaid credit cards have been available since the 1990s, their popularity grew significantly in the late 2000s and continued to do so over the following decade. By 2027, research suggests that the prepaid cards global market will be worth $3tn, creating […]
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