Tag: Know Your Customer

TransactionLink, a pioneer in onboarding automation solutions for Know Your Business (KYB), and Know Your Customer, the award-winning Software as a Service (SaaS) ecosystem...

In the rapidly evolving sectors of finance and governance, managing risk amidst vast, global networks of individuals and organizations is crucial. Leaders tasked with overseeing institutional risk exposure are increasingly looking towards innovative solutions to balance growth and risk management effectively. Enter Large Language Models (LLMs) like GPT-4 – the new frontier in AI, sparking a revolution in fields such as natural language processing (NLP). Despite the inherent risks associated with emerging technologies, the potential of LLMs to significantly contribute to future risk assessment products is becoming increasingly evident.

Fraud in the UK has become a significant concern, with 40% of crimes being fraudulent. Money muling is at the forefront, where fraudsters utilise synthetic or real mule accounts for financial gain. The UK government, recognizing the seriousness, plans to publish an action plan to combat this issue. 

Proliferation Financing (PF) is becoming an increasingly important aspect of the compliance landscape, akin to well-known areas like anti-money laundering (AML) and counter-terrorism financing (CTF). Recently, regulators, particularly in the UK, have begun implementing stricter measures to help businesses identify and mitigate PF risks.

Key Nordic FinTech investment stats in Q3 2023: • Nordic FinTech deal activity reached eight deals in Q3 2023, a 77% drop from Q3 2022 •...

Know Your Customer, a renowned RegTech provider, has announced a strategic partnership with Joint Electronic Teller Services Limited (JETCO) to offer real-time access to official company registries for financial institutions in Hong Kong.

Financial institutions often fall prey to money launderers who exploit these platforms to funnel, mask, transfer, and cleanse ill-gotten gains. This doesn’t just endanger the specific institution but imperils the credibility of the entire financial system.

PEPs are a key topic of discussion right now. Fenergo recently took the chance to dip deeper on PEPs and the fight against financial crime. 

CRIF has teamed with Know Your Customer to announce a partnership with PAOB, a digital banking pioneer in Hong Kong.

In the high-speed and complex financial landscape we find ourselves in today, one of the most significant hurdles to overcome is the ever-present threat...