What is AI, and Why do We Need It? AI (Artificial Intelligence) or Machine Intelligence is intelligence noted in machines. A computer or machine that has AI capabilities demonstrates cognitive abilities close to that of humans, and the advent of AI has changed our daily lives drastically. Over time, sophisticated criminal groups have understood how […]
COVID-19 Financial Scams You Need to be Safe From
With COVID-19, the world faces a situation unlike any before. Governments world over are looking for ways to combat the virus and come over with plans that are scalable and can work. As governments strive to respond to the growing threat of the pandemic, fraudsters are taking the opportunity to ramp up their own schemes […]
2020: The Year of Improved AML Practices in the Banking Sector
Banks are at the forefront of any financial ecosystem and thus hold a greater responsibility to prevent all the related crimes. AML compliance is a central part of the efforts to curb illegal transactions and to make sure the source of capital is clean and adequately regularized. In an ideal world, banks can detect, stop, […]
Why Do AML Rules have to be Adjusted?
The global AML (anti-money laundering) software industry is growing each year with an expected growth of up to USD 1.7 billion by 2023. These softwares are introducing newer ways to counter money laundering, such as AML tuning and optimization. The enhancement of countermeasures is directly proportional to the rise in money laundering cases and the […]
7 Smart Travel Tips for Your End of Year Vacation
As we stand at the edge of the old decade and look towards welcoming the new one, let’s take some time to look back at the last year and be grateful for everything it has given us. May the next one also bring us lots of joy, merriment, and moments to be grateful for. As […]
Is the US Economy Headed for a Recession?
With increasing trade tension with China, the rise of new protectionism across major markets, dismal growth for the current quarter, as well as declining confidence in the domestic consumer market, many alarmists are claiming that the US economy is headed for a recession. However, growth forecasts from leading economists paint a less negative image of […]
The Importance of KYC during the Holidays
Before a transaction can be made and a deal can be struck, it is crucial to make sure that the client you’re working with is not the wrong person. KYC (Knowing Your Customer) is a term that refers to the process of verifying the identity of clients, and assessing any potential risks or ill intentions […]
How RPA Helps With AML Compliance?
To counter the rising cost of AML (Anti-Money Laundering) compliance, many financial institutions are making smart use of RPA (Robotic Process Automation) to deliver superior performances. Continue reading to know more about what RPA is and how RPA helps with AML Compliance. What is RPA? RPA is a form of A.I work automation technology. What […]
A More Holistic Approach to CDD (Customer Due Diligence)
According to a Thomson Reuters KYC global survey, a majority of financial institutions think that enrolling new corporate customers has grown more difficult and takes longer. This stems from an increasingly stringent KYC regulatory environment and outdated CCD practices that are unable to keep up with the changing realities of the global financial system. In this […]
4 Reasons Why Working with a Recruiter Is a Great Idea
Searching for a suitable job in these uncertain times can be a daunting task. With feedback rare on job applications, and with so many people applying for so few openings, the process can be both emotionally draining and discouraging. Fortunately, you need not struggle alone in your job search. Many great recruitment agencies do exist […]