Financial Crime Compliance Costs Spiked 33% in 2020. Will They Correct in 2021?
Between COVID-19 disruptions, KYC challenges, paused account onboarding and altered due diligence practices, 2020 saw financial crime compliance costs increase ...
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.
Conflicting Risk Appetites: A Surefire Recipe for Due Diligence Disasters
CDD and KYC have been baked into AML compliance for two decades now, yet enforcement of money-laundering violations continues to ...
smartKYC Wins the Award for Best AI Solution for Regulatory Compliance
LONDON (May 19, 2021) – smartKYC, the world’s most advanced enterprise solution for KYC due diligence automation, today announced it ...
Estonian Identity Verification Service Veriff Raises $69M in Series B Led by IVP and Accel
Veriff's IDV and KYC services cross-reference users against government-issued IDs from 190 countries. The company experienced 600 percent revenue growth ...
Global Financial Institutions Fined $26B for AML, Sanctions & KYC Noncompliance Since 2008 Financial Crisis
A decade after Lehman’s collapse, Fenergo unveils data of fines imposed on financial institutions over the last decade Dublin, Ireland ...
Fenergo and Refinitiv Join Forces to Accelerate Client Onboarding
Partnership enables customers to streamline KYC and AML compliance in fight against financial crime (May 15, 2019) – Facilitating the flow ...
Dun & Bradstreet Partners with encompass to Enable Due Diligence in Uncertain Times
London (May 17, 2019) – Dun & Bradstreet today announced a strategic partnership with encompass, a global provider of automated ...
Refinitiv Unwraps Beneficial Ownership and Vessel Data to Support Improved Risk Management
Integration of data from Dun & Bradstreet and IHS Markit Maritime and Trade within World-Check One creates formidable resource in ...
encompass corporation Analyzes AML Penalties
Over $352.5 million of fines handed out globally in last four months encompass corporation, a fast-growing provider of intelligently automated ...
Fenergo Launches Solution to Accelerate Small Business Emergency Loan Approvals
Cloud-based remote accounting opening solution aids small businesses in accessing Paycheck Protection Program (PPP) loans guaranteed by the Small Business ...
Acuant Launches Acuant®GO No Code IDV and KYC Solutions for Agile Digital Transformation
Acuant®GO Provides the Fastest Go-To-Market Option with Proven, Secure Technology Los Angeles, CA (November 10, 2020) – Acuant, a leading global ...
Refinitiv to Add Fraud Prevention Capability with Acquisition of GIACT
Addition of GIACT, U.S.-industry leader in digital identity, payments verification and fraud prevention to enhance Refinitiv’s existing risk and compliance ...
