Teaching Machines to Spot What Matters
How emerging technologies are transforming inefficient alert systems and reshaping financial crime prevention
Tag: Know Your Customer (KYC)
KYC or “Know Your Customer” is the process of a business verifying the identity of its clients and assessing their suitability, along with the potential risks of illegal intentions towards the business relationship. The term is also used to refer to the anti-money laundering regulations that govern these activities. KYC processes are used by companies of all sizes when conducting due diligence for the purpose of ensuring their proposed customers, agents, consultants, or distributors are in compliance with anti-bribery laws.
KYC Budgets Set to Rise as Firms Weigh AI
Gartner IDs top GenAI applications for legal departments
‘Nuclear’ Court Verdicts Triple Since 2020
Only 17% of companies have organization-wide AI policies, asset managers losing investors due to slow onboarding
Nearly 9 in 10 Companies Hiring Outside Cybersecurity Advisers
M&A dealmakers boost focus on due diligence, regulatory fines surge in third quarter
Vendor Selection & Model Design for FinCrime Compliance Solutions
Selection and deployment will usually take 6-12 months at least
News Roundup: Private-Company CCOs See Earnings Drop
Execs expect generative AI to turn a profit as soon as next year, regulatory finserv penalties climb 31%
News Roundup: About 1 in 5 US Commercial Banks Spend at Least Half Their Compliance Budgets on KYC
10% of executives say their companies have faced deepfake threats; half of companies lack ability to adequately track sensitive data ...
How Much Has Changed in AML & KYC Since Bernie Madoff Went to Prison?
In the 15 years since Bernie Madoff’s conviction for running the largest known Ponzi scheme in history, regulatory agencies have ...
Money Laundering Costs the Average British Household £255 Per Year, So Why Aren’t Financial Institutions & Regulators Doing More About It?
Lack of digital processes & staffing issues among UK’s hurdles
Higher Ed Has New Homework on Money Laundering
UK study shows that colleges and universities are woefully underprepared to recognize when they’re being used to clean dirty money
True Cost of Financial Crime Compliance Annual Report
Organizations prioritizing cost reduction while ensuring regulatory adherence Annual report True Cost of Financial Crime Compliance What’s in this report ...
As Sanctions Lists Grow, So Do Avoidance Schemes
‘Blocked’ entities increasingly using corporate bond measures to gain access to financial markets
