Feb 4, 2025
Financial institutions are under constant pressure to streamline operations, enhance customer experience, and ensure regulatory compliance. It is challenging to stay compliant with Anti-Money Laundering (AML), Know Your Customer/Know Your Business (KYC/KYB)...
Oct 21, 2023
A Merchant’s Nightmare! Do you want to know how to detect and prevent transaction laundering? Transaction laundering is a deceptive and illicit financial activity in which a legitimate merchant’s payment processing system is exploited to disguise illegal...
Dec 29, 2022
This study explores financial crime and fraud detection trends around the world. E-commerce is growing rapidly worldwide, with fraudsters lurking in the shadows. Unfortunately, a lot of financial crime remains undetected. As digital payment gradually replaces cash,...
Dec 19, 2022
In 2021 alone, the financial sector received $5.4 billion in penalties for non-compliance with AML, KYC and data privacy regulations. The United Nations Office on Drugs and Crime (UNODC) estimates that the global cost of money laundering consists of 2-5% of global...
Apr 23, 2022
In recent years, technology has gotten so good at detecting counterfeit ID documents, that fraudsters are changing their modus operandi. Social engineering and the use of money mules have widespread and call for a radically different approach to KYC. Social...