Recent reports shine a glaring light on the urgent need for new solutions that can help compliance teams more effectively identify and mitigate real risks at the same pace of doing business. Despite this ever-present need, banks spend an inordinate amount of time and...

The risk-based approach (RBA) is an essential component to implementing the Financial Action Task Force’s (FATF) Recommendations effectively. Financial institutions (FIs) are expected to identify, assess and understand the money laundering and terrorist financing risks to which they are exposed and take anti-money laundering/counter-terrorist financing...

Although consumers and businesses are moving their financial activities online, digital onboarding is hampered by regulations, legacy systems and a disjointed approach for applying customer due diligence (CDD) and know your customer (KYC) controls in online or in-app environments. This article looks at how compliance...

In the past few years, several fintechs such as TransferWise, Stripe and Venmo have evolved from start-ups to established businesses in the payments industry. As part of this evolution, these fintechs have expanded their product offerings to include digital wallet balances, linked bank account...

Human trafficking and human smuggling should be defined according to the “United Nations Convention against Transnational Organized Crime and the Protocols Thereto”1 adopted by the General Assembly of The United Nations Office on Drugs...