Practical Solutions

Practical Solutions, September 2013 - November 2013

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Compiling negative news information about entities is a dynamic process. Assembling static entity information like name, date of birth and tax numbers is only the first step in entity identity and information management. Present day KYC/CIP/EDD requirements for onboarding, customer risk rating, beneficial ownership,...
June – August 2013, Practical Solutions

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Financial institutions rely heavily on the use of automated technology to detect unusual or suspicious activity. Notwithstanding the sizeable investments that many companies have made to implement and upgrade transaction monitoring systems, the need to validate transaction monitoring systems to ensure they are effective, comprehensive,...
March 2013 – May 2013, Practical Solutions

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Many banks and other financial institutions are struggling to stay current with anti-money-laundering (AML) regulations. Regulators have assessed several high-profile enforcement actions, fines, and penalties against financial organizations with lax controls over money laundering. Some of these actions were the result of an institution's failure...
March 2013 – May 2013, Practical Solutions

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As the number and complexity of sanctions increase, regulators worldwide continue to step up their scrutiny of banks and other financial institutions to ensure compliance. Considered the initial line of defense against money laundering and terrorist financing, financial institutions have witnessed the intensified focus on...