Weekly Brief

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Weekly Brief

Thursday, September 23,2021

Feature of the Week

Companies must carry out a comprehensive scrutiny of their KYC and their online and offline footprint in order to recognise certain merchants and not enable them to collect payments on their website.  Read more
Fraud comes in many forms but can be broken down into three categories: misappropriation of assets, corruption, and fraud in financial statements. Asset misappropriation, although less costly, accounted for 90% of all the fraud cases studied.  Read more
Banks are now implementing machine learning algorithms that can detect irregular transactions almost real-time, avoid them from occurring automatically, and alert the authorities.  Read more

CIO Viewpoint

By Brad Mitchell, CIO & Head of IT, CTBC Bank Corp. (USA)  
Regulations like the Anti Money Laundering/Bank Secrecy Act(AML BSA) demand strong risk assessment and control of activities typically associated with money laundering  Read more
By Jeff DeLong, EVP & CIO, South State Bank  
Creating a culture where employees not only know how to, but also feel empowered to report potential security incidents and suspicious activity is of paramount importance  Read more

Featured Vendors

By Justin Fischer, CEO & Co-Founder  
The aim of the company is to help financial institutions (FIs) bank high-risk businesses such as Hemp, CBD, cannabis, and MSB with its platform for automating on-boarding and ongoing requirements. VeriLeaf assists FIs by automating compliance,...  Read more
By Wayne Johnson  
Encompass Corporation carefully listens to and understands its client's needs and requirements. The company then develops an automated process that collects data through various disparate sources and creates a consolidated customer profile that...  Read more
By Justin Holder, CEO  
A specialist provider of testing and validation solutions for sanction screening and transaction monitoring technologies.The company publishes monthly Global Benchmark scores that represent industry standards, allowing financial institutions to...  Read more

CXO Insights

By David Versteeg, Chief Digital Officer, Van Lanschot Kempen  
At the end of the day, when it comes to striking that fine balance, wealth management is still a...  Read more
By joe McLaughlin, Chief Financial Officer, Austin Industries  
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