connections
our blog covering the latest news and industry trends from the financial and professional service sectors
digital identities and the road to cross-border harmonisation and interoperability within Asia
Know Your Customer (KYC) and digital identity are high on the agenda in Asia after the Monetary Authority of Singapore’s (MAS) fintech chief said that a partnership between India and Singapore to open up cross-border data flows and digital customer due diligence could...
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accelerating AML compliance with artificial intelligence
For a financial institution wanting to grow its business, compliance can feel like a barrier to success. The cost and complexity of keeping up to date with Anti-Money Laundering (AML) programmes has been staggering, with firms spending between 5-10% of...
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the full picture, this week – 12 April 2019
Let us put you in the picture this week, as we round-up and react to the latest news from the financial crime compliance and technology sectors. This time, there is a look at the implications for Britain when it comes to money laundering after Brexit...
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key developments within the fifth money laundering directive
The Fifth Money Laundering Directive (5MLD) has an implementation date of January 2020, with the aim of addressing a number of weaknesses that have come to light since the introduction of the Fourth Money Laundering Directive (4MLD) on 26th June 2017....
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6 steps to improve your KYC due diligence checklist
Due diligence is defined as being “an investigation or audit of a potential investment or product to confirm all facts. It refers to the care a reasonable person should take before entering into an agreement or a financial transaction with another party.” In the...
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using machine learning to improve AML efforts
Detecting and preventing money laundering is one of the most daunting but crucial tasks financial institutions face in the current climate. The complexity and volume of data that must be gathered and analysed presents real challenges, in terms of time and...
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3 key learns from Fraud and Financial Crime Europe 2019
47% of businesses have been affected by financial crime within the last 12 months. This is one of the key statistics that caught attention at the 2019 edition of the Center for Financial Professionals (CEFPRO) Fraud and Financial Crime Europe conference....
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the full picture, this week – 05 April 2019
Let us put you in the picture this week, as we round-up and react to the latest news from the financial crime compliance and technology sectors. This time, we give our reaction to a Citibank report that warns that banking incumbents must be prepared to go...
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why OPBAS report findings don’t tell the full story
The accountancy and legal industries have been making headlines recently, after a report from the Office for Professional Body Anti-Money Laundering Supervision (OPBAS) highlighted criticisms in how professional bodies representing the sectors tackle money...
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using AML technology to gain competitive advantage in professional services
Law firms and other professional services are finding themselves under increasing pressure to offer better services to their clients at a lower price. Client expectations are high and competition is strong as businesses compete globally. On top of this,...
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