Practical Solutions

Practical Solutions, Special for the Web, Tech Scope

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Machine learning, a powerful subset of artificial intelligence, and robotic process automation (RPA) have shown promise in addressing various automation opportunities that can benefit the financial services industry. In the Bank Secrecy Act/anti-money laundering world, financial institutions (FIs) are burdened with compliance requirements and growing...
ACAMS Today Europe, May - June 2021, Practical Solutions

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The investor citizenship or ‘golden passport’ scheme in Europe became a hot topic of discussion after an investigation by Al-Jazeera in August 2020. Al-Jazeera’s investigative unit published the ‘Cyprus Papers.’ These leaked documents revealed how 2,500 people—including political figures, convicted criminals and money launderers—paid for...
Practical Solutions, Special for the Web

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Countries have long fought financial crime by relying on financial institutions (FIs) to identify and report suspicious transactions. This system is largely ineffective because it rarely provides useful real-time feedback—a reality that is giving way to a more collaborative approach. This challenge is starting to...
December 2020 - February 2021, Practical Solutions

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Compliance systems’ technical limitations are both well-documented and perpetually frustrating to banks, corporations and regulators. Many of today’s technology firms and consultants promise regulators and banks that the current system is sustainable and that the inherent inefficiencies of standard operational processes can be cured...