Weekly Brief
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Weekly Brief
Weekly Brief
Jan 27, 2022
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.
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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.
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Banks are now implementing machine learning algorithms that can detect irregular transactions almost real-time, avoid them from occurring automatically, and alert the authorities.
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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
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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
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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
