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Curbing deposit limits for bank customers via Post Offices is an easy win, but for true progress in national anti-money laundering (AML) efforts there is still more to do It makes sense to implement s...
The increasing availability of data in the finance industry provides firms with the opportunity to gain deeper insights into market trends, customer behaviour, and exposure to risk. With the help of a...
To overcome increased risks from financial crime, fraud expert teams have long been working with AI-powered solutions. Without such tools, inspecting all financial transactions for possible criminal a...
‘Mainframe is dead!’ has long been a cry within the IT industry but the reality is, many organisations still rely heavily upon mainframes with data sitting on them around the 12EB (yes, exabyte) mark ...
In the rapidly evolving landscape of cybersecurity, financial institutions face an ongoing battle to protect their systems and data. That battle extends beyond their own systems and data to those of t...
The EBA/2021/02 guidelines on customer due diligence have changed. With this in mind, what are the factors credit and financial institutions should consider when assessing the money laundering and ter...
The EU UBO (Ultimate Beneficial Owner) register is a central database that contains information about the beneficial owners of companies and other legal entities within the European Union. It is desig...
Manually evaluating transaction monitoring models is slow and error-prone, with mistakes resulting in potentially large fines. To avoid this, banks are increasingly turning to automated machine learni...
For decades, Companies House has provided frictionless company formation to support the British economy. A job it’s done admirably well; in 2021 the agency saw the highest number of incorporations on ...
Can you believe it’s been 15 years since the Madoff scandal was uncovered? 15 years since the global financial crash. In fact, it was that incident that signalled the end for Bernie Madoff, the financ...
Just blink…out with the old ( ChatGPT …yup, almost already) and in with the (not so) new - Generative AI. So what is this Generative AI, really? First, think of it as a combination of Angel and devil'...
In today’s digital landscape, there is a significant risk of data breaches, cyber thefts, and other such frauds. Digital transformation has enabled fraudsters to find new lines of attack and exploit v...