In today’s evolving, largely digital economy, the exponential rise in online banking transactions has led to a near equal increase in cases of financial fraud. Today, bad actors have come to employ highly sophisticated methods in their own right to bypass the conventional modes of detection previously used by individual consumers and financial institutions alike […]
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The topic of “Golden Passports” and “Golden Visas” dominated international headlines over the last week, this following a recent, controversial decision levied by the supreme court of the European Union (EU) against a foreign tax haven. Known by the more politically-correct moniker of Citizenship by Investment (CBI) or Residency by Investment programs, these government-backed practice grants citizenship and/or […]
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A new trend is emerging in the cryptocurrency space that is garnering the attention of international regulators and law enforcement due to its propensity to contribute cross-border illicit financial activity. In 2024, “crypto casinos” truly burst onto the scene, generating a staggering $81.4 billion in gross gaming revenue (GGR), a fivefold increase compared to figures […]
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Tired of sorting through alerts that turn out to be nothing? You’re not alone. Many financial firms waste hours each week reviewing KYC flags that never lead to real threats. The main cause? Old systems that can’t tell the difference between a real match and a harmless one. That’s where Customer Due Diligence Software powered by AI […]
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If you’re still leaning on old AML screening tools, you’re gambling with risk. Not just legal trouble—think financial loss, damaged reputation, and missed red flags. The wrong match today can slip through a tired filter tomorrow. Using the Best Instant Online AML Screening Software is no longer a “nice to have.” It’s essential. Old systems […]
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Startups thrive on speed. Fintechs even more so. There’s always pressure to launch quickly, land users, and scale fast. But in the rush to build and grow, it’s easy to overlook the quiet but serious risks that come with handling money—or even just user data connected to financial activity. Compliance often stays in the back […]
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Compliance tools age fast. That includes your KYB vendor software solution. Regulations shift. Risks grow. But your tools? They might still run on yesterday’s rules. And if that’s the case, it could leave you open to fines, fraud, or missed red flags. Most firms don’t even notice their tools slipping behind. Not until there’s a […]
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As part of a deregulatory blitz that has developed into one of the trademarks of the second term of the Trump Presidency, several notable agencies of the United States government have been tasked with reducing the perceived over-regulation of the various American financial markets they govern. Following the U.S. Justice Department’s recent announcement to shutter its […]
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In a bold move aimed at unshackling the cryptocurrency realm from the staunch regulatory oversight that governs domestic financial institutions, the United States Justice Department (DOJ) recently announced a decision to officially disband its National Cryptocurrency Enforcement Team (NCET), redirecting prosecutors to shift the focus of future crypto-related investigations to strictly those involving sanctions evasion, […]
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With U.S. efforts to combat illicit fentanyl and drug smuggling at their southern border in full swing, yet another decisive blow was recently swung by a prominent American regulator to better protect the interests of the American public through improved financial awareness. Last week, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) […]
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